Global Economic Calendar 29 June - 5 July

Research evidence excerpt

Global Economic Calendar 29 June - 5 July

as been prepared without taking account of the objectives, financial situation

or needs of any particular investor. Accordingly, investors should, before acting on the advice, consider the appropriateness of the advice,

having regard to their objectives, financial situation and needs. If necessary, seek professional investment and tax advice.

Certain investment products mentioned in this document may not be eligible for sale in some states or countries, and they may

not be suitable for all types of investors. Investors should consult with their HSBC representative regarding the suitability of the

investment products mentioned in this document and take into account their specific investment objectives, financial situation or

particular needs before making a commitment to purchase investment products.

The value of and the income produced by the investment products mentioned in this document may fluctuate, so that an investor may

get back less than originally invested. Certain high-volatility investments can be subject to sudden and large falls in value that could equal

or exceed the amount invested. Value and income from investment products may be adversely affected by exchange rates, interest

rates, or other factors. Past performance of a particular investment product is not indicative of future results.

HSBC believes that investors utilise various disciplines and investment horizons when making investment decisions, which depend

largely on individual circumstances such as the investor's existing holdings, risk tolerance and other considerations. HSBC’s currency

trade ideas on deliverable FX forwards (DF) or non-deliverable FX forwards (NDF) are usually identified on a time horizon of up to three