SMM7 March 15: today's focus on China's June trade account and the monthly CPI rate after the June quarterly adjustment in the United States.
In terms of data,
The United States API crude oil inventory, API crude oil inventory can show the existing oil stocks and commodities, reflecting the sustainability of oil supply. The number of stocks affects the price of oil products that can have an impact on inflation and other economic impacts. The prices of crude oil and oil products will have an important impact on the economy of the United States, a major consumer of the product, and on the Canadian dollar, a major exporter of crude oil.
In the UK, consumer prices are the most important part of overall inflation at the monthly rate of CPI in June. Inflation is important to currency valuations because rising prices will cause the central bank to raise interest rates to control its inflation target, which in turn will be good for sterling.
The monthly rate of the UK retail price index in June, which was once widely used to measure inflationary pressures in the UK, is now being replaced by the consumer price index, so its influence is declining. But generally speaking, if the index continues to rise, it will bring upward inflationary pressure or push the central bank to raise interest rates, which will be good for the pound. Conversely, if the data is lower than expected, it will be bearish to the pound.
The July New York Fed manufacturing index is a leading indicator of the health of the economy. Businesses react quickly to market conditions, and changes in business confidence can be seen as early signs of future economic activity, such as spending, hiring and investment.
The monthly rate of the US import price index in June is likely to have an impact on future inflation. If the data is higher than expected, it should be regarded as bearish / positive for the dollar, and as bearish / bearish for the dollar if it is lower than expected.
The monthly rate of industrial output in the United States in June, industrial output is data that reflects the production level of various industries in the United States. The rise in the data indicates that the economic expansion is good for the dollar, otherwise it is bad for the dollar.
Canada until July 15 central bank interest rate decision, short-term interest rate is the most important parameter of currency valuation. If you raise interest rates, or if you are optimistic about the economic assessment and imply a rise in interest rates, it is good for the Canadian dollar. On the other hand, if interest rates are cut, or if they are pessimistic about the economy and imply interest rate cuts, it will be bad for the Canadian dollar.
The increase or decrease of EIA crude oil inventory in the United States in the week to July 10 will affect the price of crude oil, which in turn will have an impact on the Canadian dollar. Because Canadian crude oil exports account for a large proportion of the economy, the impact is greater than the weekly change in crude oil inventory of the American Petroleum Institute.
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