Macroeconomic review for June 29

For last 24 hours oil contracts increased by 1.7%, embedding above $49 per barrel for Brent on the news of the fall of US crude stocks. According to the American Petroleum Institute, last week crude oil inventories in the US fell by 3.9 mln. barrels, which was significantly higher than market expectations. Bloomberg predicts that the US Department of Energy will report today a decline in crude oil reserves by 2.5 million barrels. Oil prices may continue their recovery, if today Energy Information Administration would report ongoing reduction of the volume of daily production in the United States.
European equity indices are growing the second consecutive day on expectations that on today's EU summit will be announced measures to support the EU economy in the event of deterioration in GDP growth due to Brexit. Today the work of the EU summit continue, but without the participation of the United Kingdom. Yesterday the head of the European Commission Jean-Claude Juncker said that the representatives of the United Kingdom are for the last time in this room. In general, it is expected that in September, when will be the new UK government elections, will launched a program for exit of the UK from the EU structure. Also, support for the European stock indices gave the positive macroeconomic statistics in Germany. Consumer sentiment index rose to 10.1 points, which was better than market expectations.

How to recover your trading motivation?

The first step is to look at the delicate details of your trade, but also to keep in mind the big picture. Do you trade the right way?

Return to your trader diary and see your recent transactions. If you do not have one, I advise you to make one. Ask yourself the following questions:
- Is there something you've changed or do anything different from usual trading plan?
- Do you explicitly follow your trading plan?
- Are you doing something wrong?
- Do you miss something ?
When you find your mistakes, it will remove the lack of motivation.

Undeniable truths in forex

Expect the unexpected. Accept it. No matter how much you try in you analyzes, you will not have 100% accurate idea which way the market goes. There is always a chance that surprise waiting around the corner, perhaps in the form of undeclared currency interventions or shocking comments from central banks. In fact, these unforeseen events can not to be caused by the economic scene, but take the form of natural disasters or sudden declared war. Even if you stare at the chart constantly, keep track of forex calendar, listen to the news every day, you probably will not be able to predict such events. Unless you're Nostradamus ...

Top 5 important events next week

Next week, on Wednesday, market participants will focus their attention on the publication of the Protocols of the April meeting of the Fed's monetary policy, determined to find fresh guidance on the timing of the next increase in US interest rates.
Also in focus will be inflation data in the US, as investors try to assess whether the world's largest economy will cope with the increase in interest rates in 2016.
Market participants are waiting for release of key statistical data of Great Britain in search of guidance on the state of the economy against the backdrop of increased uncertainty about the outcome of the upcoming in June referendum on the country's membership in the European Union.
Preliminary data on the economic growth of Japan in the first quarter also will be in the spotlight amid concerns over the recent strengthening of the yen and its impact on economic growth prospects.
In addition to the summit of "Big Seven" countries (G7), traders will monitor the publication of the Protocols of the May meeting of the Reserve Bank of Australia, in which the central bank unexpectedly lowered its main interest rate to a record low.
So, what be the list of the five events in the economic calendar, which is likely to affect the markets? Check this out:
1. Minutes of the meeting of the Federal Committee;
2. Data on inflation in the US;
3. The UK is to release the consumer price index, as well as data on employment and retail trade;
4. Preliminary report on changes in the volume of Japan's GDP in the first quarter;
5. Minutes of the meeting to determine the monetary policy of the RBA.