November 23: Heaven for Day Traders
This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
All eyes on US retail sales
What will happen?
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar – the most traded currency in the Forex market! Retail sales are the primary measure of consumer spending, which, in turn, reveals the overall economic activity. The last report showed US retail sales dropped by 3.0% in February, falling short of analysts’ expectations of -0.5%. It was the biggest decline since a record drop in April of 2020. However, things are getting better in the USA as more and more people are getting vaccines, and restrictions are easing. Thus, maybe this time the numbers are encouraging.
How to trade on US Retail sales?
What you need to do is just compare the actual numbers with the forecasted, which you can check on our economic calendar. And then,
- if US retail sales are better than expected, the USD will surge;
- if worse – the USD will fall.
Instruments to trade: EUR/USD, GBP/USD, AUD/USD, USD/CAD
Similar
Traders Should Know About These Releases
The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!
US - China tension falls, Japanese Economy Struggles
Before Joe Biden sat face-to-face with Xi Jinping on Monday night at a seaside resort in Bali, US officials played down hopes for tangible progress. The outcome easily exceeded those low expectations.
Latest news
How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
FOMC Minutes Brought Insights
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…
US Dollar Might Get Under Pressure After These Events
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.
