Weekly News 08.06.2020–12.06.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade

Notable events of this week include a restart of international flights in China, a report on agricultural supply and demand and an anniversary of Hong Kong’s protests.


Economic Calendar

07.06 23:50 GMT 🇯🇵GDP — USD/JPY ▼

09.06 14:00 GMT 🇺🇸JOLTS — EUR/USD ▲

10.06 18:00 GMT 🇺🇸Interest Rate Decision— EUR/USD ▲

11.06 12:30 GMT 🇺🇸Producer Price Index (PPI) — EUR/USD ▼

12.06 06:00 GMT 🇬🇧Manufacturing Production Volume — GBP/USD ▼


June 8. China Restarts International Flights

According to the Civil Aviation Administration of China, the country partly lifts restrictions on international air transportation. However, the US plans to ban Chinese airlines from flying to the US from June 16.

The US Transportation Department’s order said China failed to create the environment wherein both parties would be able to resume passenger service.


June 9. Hong Kong’s Protests Anniversary

Large-scale protest demonstrations are planned to be held in Hong Kong. One year ago, on this day people went to the streets to protest against a new security law, which implied the extradition of suspects to mainland China. The bill was dropped eventually, but the protests in Hong Kong continue.

Beijing is now preparing to impose a new national security law on Hong Kong, which pro-democracy protesters do not approve of.


June 10. US – Iraq Talks

The first round of strategic negotiations between the US and Iraq is scheduled for June 10-11. The countries will discuss cooperation in the economic, political and military spheres.


June 11. US Agricultural Policy

The US Department of Agriculture will publish its June World Agricultural Supply and Demand report. One should pay attention to the Department’s position regarding China’s intention to ban its state-owned companies from purchasing US pork and soybeans.


June 12. A New PlayStation Presentation

A new PlayStation 5 and PS5 games presentation is reportedly set for this day. The event was scheduled for June 4, but the Sony company decided to postpone it due to the civil unrest in the US.

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