Weekly Outlook: 2016, July 24 - July 31

A busy week saw plenty of action in the yen and the pound, and a stronger dollar in general. A jey German survey, GDP data from the UK Canada and the US and rate decisions in the US and in Japan stand out. These are the major events on forex calendar.

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1. G20 Meetings: Sat-Sun. The UK and Japan are expected to lead the discussion towards co-ordination in fiscal spending with monetary policy.
2. German Ifo Business Climate: Monday, 8:00. German business moral is expected to decline moderately to 107.7 in July. The ZEW indicator already turned negative.
3. US CB Consumer Confidence: Tuesday, 14:00. Us consumer confidence is expected to decline to 95.6 this time.
4. UK GDP data: Wednesday, 8:30. The second quarter growth rate is expected to be 0.5%.
5. US Durable Goods Orders: Wednesday, 12:30. Durable Orders are expected to drop 1.1%, while core orders are predicted to gain 0.3%in June.
6. US Crude Oil Inventories: Wednesday, 14:30.
7. Fed decision: Wednesday, 18:00. It seems that Yellen will wait for at least after the elections. A hint about a hike earlier than that could send the dollar higher, while a dovish Fed, which is more likely, could weigh on the greenback.
8. US Unemployment Claims: Thursday, 12:30. The number of new claims is expected to reach 261,000.
9. Japan Rate decision: Friday.
10. Canadian GDP data: Friday, 12:30. The 0.1% growth rate was in line with market forecast.
11. US GDP data: Friday, 12:30.

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