Market Recap and Weekly Update: Focus On GBPJPY Swing Trade
Initial Jobless Claims rose 4,000 in the week of July 1. Nonfarm Payrolls surged 222,000 in June. Investors had a busy calendar of economic and geopolitical events that kept them cautious all week. Most Asian Stocks declined to end the week. In Europe, the Indexes recorded mild gains and in the US, Equities advanced in the July 4 Holiday shortened week. The BoC will publish its Rate Statement on Wednesday, July 12 with the BoC Governor Stephen Poloz giving a Press Conference afterwards.
Fed Chair Janet Yellen will be giving her Semi-Annual Monetary Policy Report to the US House Financial Services Committee on Wednesday, July 12 and to the Senate Banking Committee on Thursday, July 13. Potential Catalysts for the Wall Street Sessions later in the week include: The Producer Price Index on Thursday, US Retail Sales and Inflation Data on Friday.