It was a slow start to the new week for Forex as traders tried to settle into the June trading session. Dollar pairs fluctuated slightly but tight ranges still prevailed for the most part. EUR/USD is a good example, with a daily range of just 10 pips so far.
The outcome of trading this week remains to be seen. A number of important risk events are scheduled for the next few days. The BOC and ECB will each announce their policy decisions, and both central banks are expected to start cutting interest rates.
This week will also see the release of US employment data, with nonfarm payrolls due on Friday.
However, today will be a quiet day with only European PMI data being released before trading in the US. The US ISM Manufacturing PMI report may provide traders with some impetus to take action later today.
0715 GMT – Spain May Manufacturing PMI
0730 GMT – Swiss Manufacturing PMI for May
0745 GMT – Italy May Manufacturing PMI
0750 GMT – France manufacturing PMI final figures for May
0755 GMT – German manufacturing PMI final figures for May
0800 GMT – Eurozone manufacturing PMI final figures for May
0800 GMT – SNB total current account balance through May 31
0830 GMT – UK May manufacturing PMI final figures
That’s all for the next few sessions. I wish you all the best in the coming days and good luck with your trading. Take care.
