US may introduce duties on goods from the EU

By 04/10/2019 No Comments
weekly announcement

Statistics from the eurozone countries, the United States and the latest published business activity index in the UK were weak. The trade and economic war of the United States and China is affecting the global economy, which worries investors and the central banks of leading countries.

Despite the negative consequences, it is difficult to predict whether Beijing and Washington will be able to agree soon, or whether the confrontation will continue. In addition to China, the United States plans to introduce duties on EU products due to the “unfair game” in the aviation services market. Recall that in a Boeing – Airbus dispute, the World Trade Organization (WTO) decided that the United States could introduce duties on goods from the EU for $ 7.5 billion per year.

This week, traders will follow the economic reports of the UK and the USA.

Key events for the upcoming week of the Forex Economic Calendar:
Forex calendar Oct 7-11

Monday, October 7th
In China and Hong Kong, weekends are held due to national holidays.

Tuesday October 8th
At 15:30 (GMT+3) in the US will be released the producer price index (PPI) for September. A figure above 0.1% may support the dollar (USD).

Wednesday, October 9th
At 17:00 (GMT+3), the United States will publish the number of open vacancies in the JOLTS labor market for August. A good indicator will be positive for Forex.

At 17:30 (GMT+3) a weekly report on US crude oil inventories will be published. A large reduction in stocks will be a positive signal for a commodity asset.

At 21:00 (GMT+3), the FOMC Federal Open Market Committee protocols will appear. Protocols can guide the country’s future policies.

Thursday October 10th
At 11:30 (GMT+3), the UK will publish GDP on a monthly perspective. Strong indicators will speak about the growth of the country’s economy. There will also be output in manufacturing. The expected figure is -0.2%.

At 15:30 (GMT+3), the United States will publish the basic consumer index for September. If the indicator is above 0.2%, this may support the dollar.

Friday October 11th
From 15:30 (GMT+3), data on the change in employment for September in Canada will be released. Analysts suggest an increase in employment by 15 thousand.