
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
In Canada, the total rate of inflation managed to pick up from a 15-month minimum, although stayed quite below the Bank of Canada's objective.
As follows from the country’s statistics, the consumer price index managed to head north by up to 1.5% in February from 2018. It turned out to be higher than January’s outcome of 1.4% that had been its lowest reading since October 2017. Besides this, prices went up by nearly 0.7% from February.
Financial analysts had hoped prices would tack on by 0.6% in the month as well as 1.4% year-on-year. As a matter of fact, without gasoline, core consumer prices managed to surge by up to 1.5% from 2018 and went up by 0.7% from February.
The Bank of Canada tries to keep inflation at 2%, which appears to be the midpoint of a target range of 1%-3% for the medium term.
Eventually, on March 6, the Bank left its official interest rates on hold, warning of the potential damage to both confidence as well as the Canadian economy from everlasting trade clashes.
It’s going to take time to evaluate the whole persistence of below-potential surge as well as the implications for the inflation outlook. Well, with soaring uncertainty as for the timing of future rate hikes, the Governing Council is going to closely monitor developments in crude markets, household spending, and also global trade policy.
Besides this, retail sales headed south by 0.3% in January, in contrast with December’s outcome of 0.1%, as Statistics Canada revealed on Friday.
Financial analysts had hoped sales would tack on by up to 0.4%.
By the way, a leap in food as well as building material companies' receipts didn’t managed to compensate the weakness in car sales.
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
Yesterday, the Bureau of Labor Statistics released a higher-than-expected Producer Price Index with 0.2% m/m growth in September, meaning producers are still raising prices for goods and services.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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