Forex Calendar For The Week Ahead

The week ahead looks to be interesting having Bank of Canada meeting, OPEC and non-OPEC gathering, FOMC minutes  and key data in focus. 

This  Monday there will be no major events or indicators due to be released.

On Tuesday , Eurozone’s preliminary manufacturing and services PMIs for May will be in focus, though no forecast is available for any index yet.

From Germany, the Ifo survey for May will be released.  No forecast is available, but the ZEW survey for the month shows that the prospects for the Eurozone as a whole are improving, a factor that strengthens the economic environment for German exports. The Ifo survey is expected to indicate a similarly upbeat message coming from German businesses, especially considering that Eurozone’s political risks are now out of the way.

On Wednesday, all eyes will be on the Bank of Canada rate decision. The forecast is for the Bank to remain on hold once again.

In the US, the main event will be the release of the minutes from the FOMC’s May policy gathering, where the Committee kept its policy unchanged and offered very few hints with regards to the timing of the next rate hike.

On Thursday, the highly anticipated meeting between major OPEC and non-OPEC oil producers will take place in Vienna.

With regards to the economic data, from the UK we get the 2nd estimate of GDP for Q1.

On Friday, Japan will release its CPI data for April and later in the day in the US, durable goods orders for April are due to be released.