Source: Forex News
will be a busy week for the market as investors focus on trade issues, economic
data, and corporate issues. This article will highlight all the major themes
that traders will be focusing on this week.
Technologies – Raytheon Merger
Saturday, the Wall Street Journal announced that United Technologies (UTX) was
in talks to merge with Raytheon, on a deal that will create a new aerospace
giant. The deal, which will likely be announced today, will take place after
UTC gets rid of its Carrier and Otis businesses. Carrier manufacturers heating
and cooling systems while Otis is a specialist in elevator systems. The merger
will create an aerospace giant valued at more than $100 billion and with more
than $70 billion in annual revenues. The new company will be called Raytheon
Technologies. 57% of the company will be owned by UTX shareholders while the
current UTX CEO will be the CEO of the combined company. The CEO of Raytheon
will become the chairman of the company.
will be an important week for the UK as the country is expected to release
various data. Today, the country will release the GDP data, which is expected
to show that the economy grew by 1.8% in the first quarter. The manufacturing
production in April is expected to have declined by -1.0%. On a YoY basis, the
production is expected to have risen by 2.2%, slightly lower than the previous
2.6%. The trade deficit is expected to have declined to 13 billion pounds.
Tomorrow, the country will release the jobs numbers. The unemployment rate is
expected to remain unchanged at 3.8% while the average earnings plus bonus is
expected to decline to 3.0%.
the United States Department of Agriculture (USDA) will release the World
Agricultural Supply and Demand Estimates (WASDE). This is a monthly report that
provides an estimate of the key agricultural produce such as corn, soybeans,
and wheat. This week’s report will be important because investors will want to
know the impact of the current weather conditions on the agricultural sector.
In recent days, the increased rainfall has led to huge floods, which have led
to a delay in planting.
will be an important week for the energy sector as investors receive important
reports. On Thursday, OPEC will release its monthly report, which is expected
to show the demand and supply dynamics of the oil market. It will be followed
by another report by EIA, which will be released on Friday this week. On
Wednesday, EIA will also release the inventory data. Last week, the data showed
that the US added more than 6.7 million barrels of crude oil.
important data expected later this week will be the US JOLTs job openings,
which will be released today. Tomorrow, the US will release the PPI data and on
Wednesday, Turkey central bank will deliver its interest rates decision. On
Thursday, Australia will release its employment data and the Swiss National
Bank will release its interest rates decision. On Friday, China will release
its fixed asset investment, industrial production, and retail sales.
The post Week Ahead: Trade, Economic Data, and Corporate Issues Set to Dominate appeared first on Forex.Info.