The Second Quarter has come to an end and the EURUSD gained 1.859 percent in the last five trading days. EUR is higher against the USD as Central Bank rhetoric from the Bank of Canada (BoC), the Bank of England (BoE) and the European Central Bank (ECB) came in too close to each other and are signalling an end to Low Rates.
The Fourth of July Holiday in the United States will make an already packed Economic Calendar even more compressed. The notes from the Federal Open Market Committee (FOMC) Meeting in June will be released Wednesday, July 5 at 2:00 pm EDT. Thursday will see an influx of Employment Data with the release of the ADP Private Payrolls Report and the weekly Unemployment Job Claims. The US Non-Farm Payrolls (NFP) Report on Friday will cap it all off, with Investors looking for signs of Inflation.
British Households suffered the longest sustained decline in Disposable Income however, BOE’s Mark Carney made comments during a panel discussion at the ECB’s Annual Forum on Central Banking which advanced the Sterling’s cause.