Bitcoin Rallies Up, USD Takes Breath
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
Eyes on US retail sales
Follow the report on August 14 at 15:30 MT time!
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
This report is especially significant for traders as it concerns the US dollar – the most traded currency in Forex market. Therefore, it will influence the whole market sentiment. Moreover, it's the primary measure of consumer spending, which, in turn, reveals the current economic activity. US retail sales rose by 7.5% in June of 2020, after it reached the record growth of 18.2% in May. Both times numbers beat analysts’ forecasts. Actually, the overall situation is getting better as more and more companies are reopening in the USA and the consumer spending is increasing. Also, it seems that the coronavirus spread has been taken under control as new cases continue declining.
- If US retail sales are better than expected, the USD will surge.
- If US retail sales are worse than expected, the USD will fall.
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High-Impactful Event for Forex: US Retail Sales
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
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