US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
CAD is in focus
Follow Canadian core retail sales on September 18 at 15:30 MT time!
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
To begin with, there are two types of reports. The first type is core retail sales, which exclude automobiles. The second one is retail sales without a "core" prefix, which includes everything. Automobile sales usually make up nearly 20% of the total value of retail sales, but they are quite volatile and may misrepresent the trend. Therefore, the core report is a better measurement of consumer spending. The last report showed a growth of 15.7% in June and marked the largest increase in retail sales for the whole history of recordings. That sharp leap was caused by the reopening of most businesses after the lockdown in Canada. Consumers, who were waiting for such a long time, started spending more than ever. This report will definitely add some fresh volatility to the loonie. The Canadian dollar depreciated sharply when the coronavirus started, but then it almost recovered all its losses. Now it’s trading at the levels of late January. Watch out the report and remember the following.
- If retail sales are better than the forecasts, the CAD will rise.
- Otherwise – fall.
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
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.
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
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?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.