The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
A good chance to trade the USD
The United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time on November 2.
The NFP is considered as the leading indicator of consumer spending, which represents the economic activity of the country. Last time the indicator came out lower than expected. As a result, US dollar significantly weakened. However, this month can lead to the different outcome.
• If the NFP is higher than expected, the USD will rise.
• If the NFP is lower than expected, the USD will fall.
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).