The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
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.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!