Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Friday’s opportunity for the greenback
What will happen?
The USA expects a release of personal spending on May 28, at 15:30 MT time. It represents an important measure of consumer spending on goods and services in the US economy. The more consumers spend, the bigger is the economic activity of the United States. As a result, this data has a positive impact on the American currency.
How to trade on Personal Spending?
At first, visit the economic calendar. Find this release and check the estimates. Right after the release, compare the actual figures with the forecasts and follow the steps below.
- If the indicator is higher than the forecasts, the USD will rise higher;
- On the other hand, the USD will go down.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.
The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.