The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.
Can US CPI Impact the USD?
What will happen?
The US Bureau of Labor Statistics will release CPI and core CPI on Friday, June 10, at 15:30 MT. CPI accounts for most of the overall inflation, which is important to the currency valuation because rising prices make the central bank raise interest rates.
Possible USD moves
Currently, the US CPI is still at four-decade high levels. That’s why every release is interesting to see, as it brings volatility to the US dollar.
Last time the results met expectations with CPI 0.3% vs. 0.2% forecasted, and core CPI 0.6% vs. 0.4%. USD reacted well: EURUSD lost almost 550 points and then recovered quickly. If you traded 1 lot here, you would have earned $550.
How to trade on the US CPI release?
- If the US CPI is greater than forecasted, USD will likely strengthen against other currencies.
- Alternatively, the USD will drop.
Check the Economic Calendar.
Instruments to trade: EURUSD, USDCAD, USDCHF.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).