The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
5 important events this week will bring us!
- Speech by the ECB President Mario Draghi (Mon, 16:00 MT (13:00 GMT) time) – If the ECB president is hawkish, the EUR will be supported;
- CB consumer confidence for the US (Tue, 17:00 MT (14:00 GMT) time) – Higher-than-expected figures will push the USD up;
- RBNZ rate statement (Wed, 5:00 MT (2:00 GMT) time) – Analysts anticipate the Reserve bank of New Zealand to keep its interest rate unchanged at 1%. Traders will pay attention to the outline of the statement. If the RBNZ is hawkish, the NZD will rise.
- US final GDP (Thu, 15:30 MT (12:30 GMT) time) – If the actual figures are higher than the forecasts, the USD will go up.
- US core durable goods orders and personal spending (Fri, 15:30 MT (12:30 GMT) time) – Higher-than-expected figures will boost the USD
- After the trade talks between the US and China last week, we heard some positive comments on that matter from both sides.
- Oil prices jumped on the news that the reparation of the Saudi plant would likely take months.
- The EU’s Donald Tusk will meet the UK Prime Minister Boris Johnson this week. However, judging by the tone of the Prime Minister, he does not expect any breakthrough this week. Also this week the Supreme Court will rule on Boris Johnson’s suspension of Parliament. The uncertainties affect the GBP.
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).