Is dollar going to set a new record this week
markets enter into a week packed with events, After one week was relatively calm, which began with a meeting of leaders of industrialized nations in Japan, warned against possible damage to the global economy, the retirement of Britain from the European Union, with continued US growth figures lower than forecast, and ended her speech of Fed Chairman, Janet Yellen, said that the bank may raise interest rates in the US in the coming months
Trading this week will be the shadow of a variety of economic data from around the world will begin a US vacation, would continue at a meeting of OPEC in Vienna and the interest rate decision of the European Union, and will peak on Friday with the employment data for May that could determine the date of the increase in interest rates the world’s largest economy.
The dollar will stand In the spotlight :As i mention the last post , From the technical side on dollar index price: look at the charts we can see the dollar index rate expected to find its first resistance at 95.30-60, and a rise through could take it to the next resistance level of 96.20-40
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| US DOLLAR |
Major events for this week:
Thursday morning will be held in Vienna Summit the world’s major oil producers (OPEC) in order to try and achieve a binding agreement to freeze output policy. Recall that two months ago, at the previous summit in Doha, attended by 16 leaders of nations, ended without agreement on freezing output.The focus of interest was then Iran boycotted the meeting and was the only company in the cartel is not ready to participate in the agreement, however, claiming she only returned to the international market in January, after it imposed sanctions removed. The price of black gold jumped by more than 15% from the end of the meeting to the day when a barrel of crude oil traded on international markets for $ 50, At the same time OPEC Conference, convened in Vienna, the Monetary Council of the European Central Bank, headed by Mario Draghi to discuss the interest rate for the economy. According to estimates of economists, the interest rate is not expected to change
Friday will be published given the world’s most important macroeconomic – US employment rate. After the addition of 160 thousand persons employed in the US economy in April, economists have raised the bar and the expectation for May is an addition to 161 thousand job
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