A historic week

Next week is going to be big, so big that I even cannot recall any weeks before that have so many critical events lined up day by day. Let me call it a historic week. Below is the summary about the most critical events for each day:

Monday: Chinese CPI, PPI for May

Tuesday: CPI for May; North Korea/U.S. Summit in Singapore

Wednesday: FOMC Policy Announcement (2pm) & Fed Chair Powell holds Press Conference (2:30 pm)

Thursday: ECB Policy Announcement & ECB Chair Draghi Holds Press Conference

Friday: U.S. To Release Final List of Chinese Imports Subject to Tariff

Of course I don't have a crystal ball to tell you how the market will certainly go with all the news coming out from these events but I'm pretty sure it will be a very volatile week to go. As I said, the market is usually set up  for its short term moves and then use any news as excuses to make a drastic move when it's ready. Right now the market is quite overbought for the short term and can easily sell off for any news perceived as not so good. I think the downside risk is much more than the upside for its next major move although I cannot say yet whether it is just a one day move or longer. Get ready for high volatility in the next few days!
Feel free to share my blogs with your friends!