Bitcoin Rallies Up, USD Takes Breath
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
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
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High-Impactful Event for Forex: US Retail Sales
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
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