1. Wednesday- US Fed Interest Rate Decision (Y/Y) @ 7:00pm
2. Wednesday- NZD Interest Decision @ 10:00pm
3. Thursday- GBP Gross Domestic Product (Q/Q) @ 9:30pm
4. Friday- CAD Gross Domestic Product (M/M) @ 1:30pm
US INTEREST RATE DECISION: The US will release its interest rate decision on Wednesday. The Fed is expected to raise interest rates by 0.25% from 2% to 2.25% at the meeting, with a100% probability expectations according to Fed funds futures. Given the expectation is so high an assenting decision is now probably already priced into the Dollar so only a digression from the forecast is likely to lead to a major move in the exchange rate. Also, the market’s focus will be on the FED’s policy statement and press conference.
NZD INTEREST RATE: The NZD will be having its interest rate decision on Wednesday. The central bank is expected to hold its official cash rate unchanged at 1.75% for yet another meeting. Although, the RBNZ has recently said chances of a rate cut has increase, the market’s main focus will be on the accompanying statement and press conference. A dovish statement will be negative NZD while a hawkish statement will be positive for NZD.
GBP GROSS DOMESTIC PRODUCT: The UK GDP is scheduled to release on Friday. The British economy grew by 0.4 percent on quarter in the three months to June 2018, following a 0.2 percent expansion in the previous period and matching market expectations. The Uk GDP is forecasted to expand by 0.4%. A worse than forecast will weaken the GBP while a Better than forecast will strengthen GBP.
CAD GROSS DOMESTIC PRODUCT: The CAD GDP is expected to be released on Friday. The GDP which is forecast to show a 0.1% rise versus the 0.0% in the previous month. However, markets appear optimistic to the risks of the U.S. and Canada failing to reach a deal. A better than expected outcome will be positive for CAD while a worse than expected will be negative for CAD.