Volatile Week Ahead: Key Data Releases to Watch

I’m preparing for a packed trading week, with several major economic releases and central bank decisions likely to drive volatility across global markets.

Tuesday kicks off with ISM Manufacturing PMI out of the U.S. and the RBA Meeting Minutes in Australia. The RBA minutes are crucial—unlike the post-meeting statement, they provide detailed insights into policymakers’ discussions. If the minutes reveal increased concern over inflation or growth, it could shift expectations for rate cuts and move the Australian dollar significantly.

Wednesday brings a wave of critical releases: 

•Australian GDP 

•U.S. ADP Non-Farm Employment Change 

•S&P Global Services PMI 

•Bank of Canada (BoC) interest rate decision 

The BoC is expected to cut rates by 25 basis points, and the tone of their guidance will shape CAD sentiment moving into June. Thursday, the focus shifts to Europe, with the ECB interest rate decision and press conference. Markets are watching closely for any signs of a policy shift amid stagnating Eurozone growth. Traders of the euro should be ready for heightened volatility. 

Friday ends the week with the all-important U.S. Non-Farm Payrolls (NFP). Forecasts point to a slowdown, with job creation expected to fall to 130,000 from 177,000 previously. A soft NFP number could weigh heavily on the USD, particularly if wage growth surprises as well. This is a decisive week for anyone trading AUD, CAD, EUR, or USD. I’m monitoring each event closely and will be adjusting my positions accordingly.

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