Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
All eyes on US CB consumer confidence
The report will be out on August 25 at 17:00 MT time!
Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD
The consumer confidence has direct influence on consumer spending, which, in turn, plays the key role in the overall economic activity. The last report for July came out worse than analysts expected. It turned out 92.6, while the forecast was 94.5. That was obviously the coronavirus effect. New virus cases rose steadily during that time. However, these days things have changed. The infections’ curve is declining. In addition, other economic indicators showed that the economy is rebounding and people are getting back to work. However, we can’t be absolutely confident what the report will bring. Don’t miss the USD move!
- If the US consumer confidence is better than the forecasts, the USD will rise.
- Otherwise – fall.
Oil dropped to the lows unseen since late May. Bitcoin has dropped below $30,000, while gold has reversed up from a dip under $1,800.
Australian monthly retail sales will be announced at 04:30 MT time (GMT+3) on Wednesday, July 21. T
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
PMI reports from the EU, the UK, and the USA will be released during the day!