What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
British consumers spend more due to higher clothing and food prices
In September, UK shoppers stepped up their spending at the fastest pace this year, excluding an Easter-related soar in April. However, much of the ascend actually reflects higher prices for clothing and food after the Brexit vote, as a poll disclosed.
Retail sales inched up by 1.9% on alike-for-like basis stripping out changes in store size, as the British Retail Consortium informed, up from 1.6% in August.
The leap follows other signs, which UK consumers are adapting to the soar in inflation caused in large part by the decline in the value of the UK currency after the Brexet vote to take the UK out of the European Union in June last year.
The Bank of England that has already hinted it’s already approaching its first rate lift in a decade, is actually expecting a jump in spending.
As the BRC told, in August, growth in total sales the previous month slowed modestly to about 2.3% from 2.4% percent, although was still stronger than in most months so far in 2017.
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!