ISM Manufacturing PMI, Rate decision in Australia, the UK and the Eurozone, GDP data from Australia, Employment data from Canada as well as important labor figures from the US including the all-important NFP release. These are the highlights event on forex calendar. Join us as we explore the market-movers of this week.
Last week, U.S. second GDP estimate was released, indicating the economy contracted 0.7% in the first quarter, amid harsh winter storms, strong dollar weighing on exports and labor disputes at West Coast ports. While the first estimate a month ago, showed 0.2% growth. Economists say the first quarter GDP reading is not accurate and expect a pick-up in the next quarter. Also upbeat data in Durable goods orders and Consumer sentiment fuels optimism about US economic growth.
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