Wednesday will please traders as many economic indicators will be out! The USA, UK, and Euro Area will release PMI reports on June 23 from 10:15 to 16:45 MT.
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
Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!
The US dollar has surged to levels unseen since April after the Fed's decision back on Wednesday. Gold has reversed up from the local dips. Still, this week was the worst for gold in more than a year.
The Bitcoin “death cross” has occurred. The S&P 500 rallied the most in five weeks! Crude oil and gold jumped as the US dollar weakened.
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Good news for FBS Traders! Top UK stocks have been just added to our platforms: MetaTrader 5 and FBS Trader App.