Soon Bullish Rally for Gold
The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.
All eyes on USD
US unemployment claims and GDP will be released on August 27 at 15:30 MT time!
Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD
The combination of two US significant releases at one time will make the market really volatile! Unemployment claims reveal the amount of people, who filed for jobless benefits during the previous week. The gross domestic product shows an annualized change in the value of all goods and services produced by the economy. This report is delivered every quarter, but in the annualized format: the quarterly change is multiplied by 4. There are 3 types of GDP: advance, preliminary, and final. The advance one is the earliest and thus tends to have the biggest impact. However, this week is not so eventful, that’s why traders will pay closer attention to this report. Notably, the advanced GDP contracted by 32.9% and marked the largest decline ever. Indeed, the coronavirus ruined many business and factories. The recovery will depend on the government’s ability to contain the virus spread.
- The US dollar will surge, if the data comes better than expected.
- Otherwise – drop.
Similar
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.
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!
Latest news
Two Central Banks Will Grab Traders’ Attention
The central banks' meetings will highlight the week as well as the PPI release
Get Ready for the NFP Release
Good Friday, traders! The markets are frozen ahead of today's NFP release at 15:30 GMT+2…
US Dollar Index at a 3-month Low
The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?
