Monday, June 26 Outlook

 

We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday.

Event: US Durable Goods Order (May)

Date: Monday 26 June 2017 at 12:30 GMT

Markets affected: EUR/USD, GBP /USD

Trending hashtags: #usd

Durable Goods Orders will be released on Monday by the US Census Bureau showing the cost of orders of durable goods received by manufacturers. Durable goods are those that last three or more years (excluding automobiles) and are a good measure for the economic health of the US. April’s orders were revised from -0.7% down to -0.8% and expectations for May are -0.5%. Core orders which are followed closely by the Fed fell by 0.5% last month and for May the expectation is for a 0.4% increase. 

Event: New Zealand Trade Balance (May)

Date: Monday 26 June 2017 at 21:00 GMT

Markets affected: NZD/ USD, AUD/NZD

Trending hashtags: #nzd, #trade

The trade balance of a country, also referred to as the balance of payments, shows the difference in value between the nation’s exports and imports. An import heavy nation is reliant on a strong currency to buy goods at a better price, whereas an exporting nation is aiming for a lower foreign exchange to make their goods more competitive on the global markets. Statistics New Zealand,  will be releasing the trade balance for New Zealand later on Monday for the month of May. The previous figure was -3.4 billion NZD, year-on-year, so an increase in that may be positive for the NZD.

Event: US GDP (Q1)

Date: Thursday 29 June 2017 at 12:30 GMT

Markets affected: EUR/USD, GBP /USD

Trending hashtags: #usd

The Bureau of Economic Analysis will be releasing the Gross Domestic Product for the US – a vital economic indicator as it shows how fast or slow the economy is growing (or shrinking). The second release of GDP was revised upwardly to 1.2% from a disappointing 0.7% shown on the first release. This time analysts are expecting the 1.2% figure to be confirmed.