High-Impactful Event for Forex: US Retail Sales
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
American consumer spending tacks on
In July, American consumer spending jumped firmly, thus hinting at sturdy economic surge in the third quarter. Meanwhile, a measure of underlying inflation reached the Fed’s 2% objective for the third time in 2018.
On Thursday, other data disclosed a soar in fresh applications for unemployment benefits the previous week, although the underlying trend kept pointing to a firm labor market.
However, there’re worries that the current presidential administration's protectionist trade stance that has provoked an escalating trade conflict with China as well as tit-for-tat import duties with other trading partners, such as Canada, Mexico and the EU could impact the American economy.
The Commerce Department told that consumer spending, accounting for more than two-thirds of American economic activity, jumped by 0.4% the previous month having rallied by the same margin in June. In July, households shelled out more at restaurants as well as accommodation.
Additionally, there was a leap in spending on prescription medication. The previous month's ascend in consumer spending turned out to be in line with analysts’ hopes.
In July, prices proceeded with their gradual upward trend. Without energy and food, the personal consumption expenditures price index managed to jump by 0.2% having soared by 0.1% in June.
It lifted the year-on-year jump in the core PCE price index to up to 2% from June’s reading of 1.9%. Eventually, the core PCE index turns out to be the Fed's primary inflation gauge. In March, it hit the Fed’s 2% inflation objective for the first time since April 2012.
Published the previous week the minutes of the Fed's July 31-Aug. 1 gathering disclosed that some policymakers were concerned over the fact a prolonged period in which the US economy acted beyond potential could provoke inflationary pressures.
As a matter of fact, wages managed to surge by 0.4%.
Similar
Key Forex Event: US Inflation Rate
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.
NFP forecasts of 8 major banks
The US will reveal Non-farm payrolls today at 15:30 GMT+3. Here are the forecasts of 8 major banks regarding the upcoming NFP report. The common forecast (market consensus) is 500K. What’s yours?
Latest news
Weekly US employment: a chance for the USD
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
British inflation may send the GBP up
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
What will move the market on October 18-22?
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?
Deposit with your local payment systems
