The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Get ready for more insights by the Fed
The Federal Open Market Committee (the department of the Federal Reserve) will publish the meeting minutes on October 7 at 21:00 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
The FOMC meeting minutes is a detailed record of the previous meeting that happened on September 16. During the previous meeting, the Fed kept the interest rate at the lowest level and switched the forecasts for GDP and the unemployment rate to reflect the current downward trends. At the same time, the new policy of average inflation guidance was presented. Since then, the US dollar has got stronger, although it is still far from a recovery. If you want to see more detailed long-term forecasts from the Federal Reserve and trade the US dollar, wait for the release of the meeting minutes.
- If the Fed is not pessimistic, the USD will strengthen;
- If the Fed is pessimistic, the USD will weaken.
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).