It looks as if this week will be quieter than recent weeks, which much less on the agenda and with a lot of industry participants beginning to leave on summer holidays. It would not be surprising if the market begins some kind of lull now as we go into August.
The key currencies to watch this week are likely to be the NZD, the GBP and the AUD.
New Zealand Dollar
This will be a crucial week for the Kiwi, with Thursday seeing the release of the monthly RBNZ Rate Statement and Official Cash Rate. There is a real chance there will be a further cut in the Cash rate. This news will be followed on Friday by Trade Balance data.
British Pound
On Wednesday there will be a release of the voting details of the recent MPC Official Bank Rate Vote. There is much expectancy surrounding an anticipated rate hike and this may give a clue as to how close such a rise might be. On Thursday there will be a release of Retail Sales data.
Australian Dollar
On Tuesday there will be a release of the recent Monetary Policy Meeting Minutes. This will be followed on Wednesday by CPI data and an incidental speech by the Governor of the Reserve Bank of Australia.
U.S. Dollar
A very quiet week for the USD with nothing high-impact scheduled except Unemployment Claims data on Thursday.
Canadian Dollar
There will be a release of Wholesale Sales data on Monday. Later in the week on Thursday we will get Core Retail Sales numbers.
Euro
It should be a fairly quiet week for the Euro, with no scheduled high-impact releases with the exception of French and German Flash Manufacturing on Friday. Of course, there can always be unscheduled surprises from Greece.
