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Based out of Auckland, New Zealand, we bring an institutional trading experience to the retail market.
Mark O' Donnell
 · 
Research Analyst
July 2, 2018
 · 

Quick Summary of Events This Week

 

 

Reserve Bank of Australia

► Reserve Bank of Australia is set to release their interest rate decision on 3 July. The previous outlook might change with the current tension in the global economy. The balance of trade for Australia will shortly follow the interest rate decision on 4 July.

 

Brexit

► Cabinet of United Kingdom will meet between July 4 – 6 and is likely to come to an agreement regarding their plans for what kind of future UK wants with the European Union after Brexit.  The white paper spelling out the UK plans is likely to be released once the full cabinet comes to an agreement.

 

Trade Wars

► The United States will impose tariffs on $34 billion of Chinese imports on 6 July. The tariffs will be on imports such as marine engines and power turbines. The Chinese are likely to retaliate with their own tariffs on the same day.

 

► The Canadian government recently confirmed the imposition of tariffs on $12.5 billion of U.S. imports. More than 40 U.S. steel products attracting tariffs of 25%, and tax of 10% are imposed on over 80 other U.S. goods including toffee, maple syrup, coffee beans, and strawberry jam. For the full list, click here.

 

FOMC release

► The FOMC is set to release their minutes for the meeting of June 12 – 13, on July 5.

 

Other Economic Figures

► Unemployment rate for Canada and U.S.  is set to be released on 6 July. The unemployment figure is one thing President Donald Trump place huge emphasize to legitimize his activities during his presidency.

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