The main focus of traders will be on US inflation at 15:30 GMT+3. Analysts expect the huge spike of the US inflation.
Did the US economy end the year with a bang?
The US will publish the advance GDP for the fourth quarter of 2020 on January 28, at 15:30 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
It's not a secret that GDP is one of the most important measures of a country's economic activity. Being calculated as a change in the value of all goods and services produced by the economy, it serves as an indicator of economic health. At the start of 2021, we can say that measures taken by both the Federal Reserve and the government back in 2020 worked out just fine. The 3rd quarter GDP jumped by 33.4% after the plunge in the previous quarter. Will we see an even better outcome this time?
- If the indicators are higher than the forecasts, the USD will rise;
- In case of an alternative scenario - fall.
The United States will release the weekly Initial Jobless Claims on May 13, at 15:30 MT time
The United States will publish a monthly Inflation Rate and Core Inflation Rate on May 12, at 15:30 MT time.
What's moving markets on Friday? Read in the fresh report!
Elon Musk, Tesla’s founder and CEO, said the company wouldn’t accept Bitcoin as payment any longer. As a result, BTC/USD dropped to $45,300, the low unseen since March.
The USA will post Retail Sales and Core Retail Sales on May 14, at 15:30 MT time.