
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on March 31, at 15:30 MT. This monthly release comes out 30 days after the month ends. The PCE indicator differs from the core CPI as it measures only goods and services consumed by individuals. Prices are weighted according to the total cost of a product. It provides essential information about consumer behavior.
Inflation in the US keeps increasing due to geopolitical news. Moreover, logistical problems caused by the boycott of Russian goods and resources accelerate the US market prices’ rise. As a result, the Federal Reserve has to consider faster rate hikes. Expectations of such policy push the USD up. The US dollar index is trading near the highest levels since May 2020.
On February 25, PCE rose by 0.5%, the same as predicted. However, the release was overshadowed by the beginning of the Russian-Ukrainian conflict. Due to this fact, the currency fluctuations weren’t significant.
As the PCE index is crucial, it is likely influence gold and the USD pairs. Gold is considered as a hedge against inflation, but PCE high numbers increase the chance of rate hikes. Thus, the metal may fall against the USD.
Check the Economic Calendar.
Instruments to trade: XAUUSD, EURUSD, USDCAD, USDCHF.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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