The US dollar turned to the upside on Monday. Let's discuss what to expect next from the market.
A block of the key US statistics
The United States will make two important data releases at 15:30 MT time on September 27. The first indicator, durable goods orders, is a leading indicator of American production. It reflects the change in the total value of new purchase orders placed by manufacturers for durable goods. The higher the indicator’s growth, the better for the USD. The last time this indicator was released, it disappointed traders. It turned out that the demand for long-lasting goods produced by US factories fell in July because of a decline in aircraft sales. Naturally, the market will now be eager to see whether the situation has improved or not. The second event is the third and the final release of American GDP growth for the second quarter. According to the previous estimate of the US economic growth, the nation’s economy is performing at its best in nearly four years. A confirmation of that will be bullish for USD.
• If the data is greater than the forecast, the USD will rise.
• If the data is weaker than the forecast, the USD will fall.
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
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