Forex Top Team

Material difficulties at the beginning of the week, awaiting tomorrow’s U.S. Consumer Price Index and the day after tomorrow’s U.S. FOMC meeting


“Starting the week, there is a shortage of market-moving news. The scheduled economic indicators include the Indian Consumer Price Index (May), the Indian Industrial Production Index (April), and the US Monthly Treasury Statement (May), which are less anticipated by the market.

This week, the outcome of the US Federal Open Market Committee (FOMC) meeting will be announced on Wednesday. Prior to that, the latest US Consumer Price Index (CPI) will be released on Tuesday. With these upcoming events in mind, today seems to be a day of cautious observation.

Regarding speaking events, press conferences and speeches by Simkus, the President of the Central Bank of Lithuania, and Mann, a member of the Bank of England’s Monetary Policy Committee, are scheduled. Over the weekend, it was announced that Megan Green will be appointed as the successor to Committee Member Tenreiro at the Bank of England. It is expected that Green will adopt a more hawkish stance compared to Tenreiro. Her statements during her inauguration press conference and other events will be closely watched.

(Source: Minkabu)

Today, the USD is being sold heavily. It is anticipated that there will be adjustments to the existing USD long positions in anticipation of tomorrow’s US Consumer Price Index.”

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