It’s a busier week ahead on the economic calendar, with 60 stats in focus in the week ending 18th June. In the week prior, 45 stats had been in focus.
For the Dollar:
Early in the week, Wholesale inflation and retail sales figures will be in focus.
While inflation figures remain a key area of interest, retail sales will likely be the main focal point.
On Thursday, Philly FED Manufacturing and weekly jobless claim figures will also influence.
Other stats include industrial production, housing sector data, and manufacturing numbers out of NY State. We don’t expect these to have too much influence in the week, however.
On the monetary policy front, it will be the FED’s June monetary policy decision that will be the main event.
The markets are expecting discussions on a tapering to the asset purchasing program to begin. Will there be talk of a shift in sentiment towards interest rates? The projections will hold the key.
In the week, the Dollar ended the week up by 0.46% to 90.555.