The market sentiment is mixed, but there are still interesting movements on the market.
Another opportunity to trade the GBP
Great Britain will release the level of retail sales at 11:30 MT time on November 15.
Last month the actual level of retail sales came out much lower than the forecast. The GBP/USD pair plunged. The GBP needs strong support in times of uncertainties around the Brexit deal. If the situation with October figures is different, the GBP will be able to strengthen.
• If the actual data is higher than the forecast, the GBP will rise.
• If the actual data is lower than the forecast, the GBP will fall.
Stock significantly surged: S&P 500 and Nasdaq reached 6-week highs. The market sentiment may deteriorate today as Johnson & Johnson’s Covid-19 vaccine trails have been stopped because of the unexplained illness.
Riskier assets and gold ended last week with huge gains due to the weak US dollar’s performance. Let’s discuss what will drive the markets today.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.