21, May 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The opening of a European Union summit in Brussels is planned On Wednesday. The main issue of the summit is the fight against offshore companies and the shadow economy. The European Union offers to create a single database of investors in the region. Analysts consider the probability of capital escape to Asia.

On Wednesday we expect the reports publication on the Bank of Japan and England monetary policy. The Central Bank of England also publishes decision on interest rates.

Federal Open Market Committee will publish its minutes on Wednesday. Bernanke will speak on Wednesday. Traders are in an anticipation of his speech, waiting for news about the ongoing program of QE. Traders are wondering if the program is kept or not.

Friday we will know the final figures of the German GDP. According to the forecast GDP managed to grow by 0.1% in the first quarter. If the growth is confirmed, Germany will avoid a recession.