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Great Britain will release the level of CPI on May 22, at 11:30 MT time. The indicator is considered as the most important inflation data for Great Britain, as it’s used as the inflation target of the Bank of England. Last time the indicator came out lower, than the expectations. It reached 1.9% instead of 2% anticipated by analysts. As a result, the British pound plunged. However, the current release may lead to a different outcome.
• If the actual level of CPI is higher than the forecasts, the GBP will go up;
• If the actual level of CPI is lower than the forecasts, the GBP will go down.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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