There are a few very high-impact news items scheduled this week, primarily affecting the Canadian Dollar, as well as the U.S. Dollar which is the most important currency in the Forex market. Therefore, volatility this week should be approximately the same, or maybe a little lower, than it was last week.
The market will probably be most active on Wednesday and Thursday. Friday is a public holiday in France.
U.S. Dollar
It will be an important week for the greenback, starting on Wednesday with Janet Yellen’s testimony before the Congressional Financial Services Committee on the Fed’s Semiannual Monetary Policy Report, which continues into Thursday. There will also be a release of Crude Oil Inventories data. Thursday will bring PPI and Unemployment Claims numbers. Finally, Friday will see the release of CPI and Retail Sales data.
Canadian Dollar
It will be an important week for the Loonie, with the Bank of Canada’s Monetary Policy Report, Rate Statement, Overnight Rate all due on Wednesday, accompanied by the usual press conference.
British Pound
It will be a quiet week for the Pound, with nothing due except Average Earnings Index data on Wednesday.
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