First, a review of last week’s events:
As for the forecast for the coming week, summarizing the opinions of a number of analysts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:
The week March 11 to 15 will literally be filled with events, each of which can not only cause an increase in volatility, but also lead to a change in the trends’ direction.
So, on Monday, March 11, a meeting of eurozone finance ministers will be held in Brussels. And on the same day in the evening, the data on the US “retail sales control group” will become known, which, according to forecasts, may slightly strengthen the dollar.
Tuesday will also see the publication of economic statistics from the United States, this time it will be the consumer price index. Attention should be paid to the speech of the head of the Federal Reserve, J. Powell on monetary policy. On Wednesday, we are expecting a report on the UK budget, as well as statistics on retail sales and industrial production in China. On Thursday, we will learn what is happening with consumer prices in Germany, and on Friday we will hear Haruhiko Kuroda’s comment on the prospects for the monetary policy of the Bank of Japan.
But all these rather important events fade before what should happen on Tuesday, March 12, in the capital of the United Kingdom. It is on this day that a second vote will be held in the British Parliament on the terms of Brexit, and, in the event of another failure of Prime Minister May, lawmakers will be able to vote on March 13 to postpone the negotiations and postpone Brexit to a later date. Theoretically, even a second referendum on the exit of the UK from the EU is not excluded.
These votes can affect not only the quotes of the major world currencies, but also the future of the world economy as a whole. In the meantime, analysts' opinions are as follows:
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