Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
An opportunity to trade GBP on the news
What will happen?
Great Britain will release retail sales for May on June 18, at 09:00 MT time. One cannot underestimate the importance of this indicator. The change in retail sales shows how active consumers are, how willing they are to spend in various shops. The more they spend, the better for the UK economy and, hence, for the British pound.
In April, when lockdown restrictions were lifted for non-essential shops, British retailers managed to return to normal sales volumes. If this trend has continued in May, it will be a positive sign for the nation’s GDP and currency.
How to trade on the British retail sales?
The indicator will have an impact on pairs containing the GBP.
- If it turns out to be higher-than-expected, the GBP will gain.
- Alternatively, GBP will lose.
Instruments to trade: GBP/USD, EUR/GBP, GBP/JPY.
Similar
Big Event for GBP: Bank of England’s Statement
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
Strong US Retail Sales Pressed Gold
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
Latest news
How Will CAD React to BOC Monetary Policy Report?
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
How will AUD React on Consumer Price index?
What will happen? Australian Bureau of Statistics will announce Core PCE Price Index at 03:30 MT (GMT+3) on Wednesday, October 27…
What will move the market on October 25-29?
Last week was full of surprises! Stock indices have shown significant growth…
Deposit with your local payment systems
