Forex forecasts and market outlooks

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11.08.2020

API Weekly Crude Oil Stock. United States, 22:30 (GMT+2)

At 22:30 (GMT+2), the weekly report on the amount of oil reserves in the United States from the American Petroleum Institute (API) will be released. Also to the data on oil reserves, the most important in the report, it contains data on the amount of gasoline and distillates in the United States. A reduction in oil reserves traditionally leads to an increase in oil prices, while an increase leads to a decrease. The last time oil reserves in the United States fell by 8.587 million barrels. The continuation of this trend may support oil prices.

10.08.2020

Unemployment Rate. Switzerland, 07:45 (GMT+2)

Swiss Unemployment Rate data for July are due at 07:45 (GMT+2). The indicator records the percentage of the number of unemployed citizens older than 18 to the total number of the population able to work. Only registered unemployed citizens are counted. The figure is expected to rise from 3.2% to 3.4% not seasonally adjusted, and from 3.3% to 3.6% if seasonally adjusted. The implementation of the forecast can put pressure on CHF.

Consumer Price Index. China, 03:30 (GMT+2)

July data on China's Consumer Price Index are due at 03:30 (GMT+2). It is the main indicator of inflation in the country and determines the change in the level of retail prices for a particular basket of goods and services: food, transportation, utilities, healthcare, etc. It has a significant impact on monetary policy decisions. It is expected that the Consumer Price Index on an annualized basis will increase from 2.5% to 2.6%, and on a monthly basis it is expected to grow from –0.1% to 0.4%.

07.08.2020

Ivey PMI. Canada, 16:00 (GMT+2)

At 16:00 (GMT+2) in Canada, the July Ivey PMI data will be released. The indicator reflects the state of business activity in the national manufacturing industry and is calculated based on a survey of purchasing and supply managers from leading national enterprises in all industries. At the same time, their views on the current economic situation and prospects for further development are assessed. The index is expected to decline from 58.2 to 57.5 points. The forecast implementation may put pressure on the Canadian dollar.