Investors focus will be this week on the FOMC meeting Wednesday. The US central bank is expected to keep rates unchanged at 2.5% this week.
Monday the NY Empire State manufacturing index and NAHB housing market index will attract traders interest.
The ECB annual conference in Sintra takes place from 17-19 June. On Monday evening, Mario Draghi’s welcome address and introductory remarks on Tuesday morning will be closely followed by EURUSD traders.
Investors will also monitor closely the Council’s decision with regard to starting an excessive deficit procedure (EDP) against Italy, after on 5 June the Commission found the country in violation of the debt reduction rules for 2018.
AUDUSD traders focus will be on RBA minutes due Tuesday with more detail expected on the reasoning for the interest rate cut of 25bps at its latest meeting.
The final May HICP figures due out on Tuesday should reveal which services price components dragged core inflation back down to 0.8% (from 1.3% in April).
On Friday we await the June PMIs. Driven by a further improvement in the order-inventory balance, manufacturing PMI remained broadly stable at 47.7 in May.
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