What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Get ready to trade the USD on the inflation data.
The US will release monthly consumer price index figures (CPI) for October at 15:30 MT time on November 14.
This indicator is important as this is the base for the Federal Reserve future monetary policy decisions. Last month the inflation rate declined by 0.1% and made the USD weak. The higher-than-expected level will be appreciated by the market, so the USD will get a chance to strengthen.
• If CPI outperforms the forecast, the USD will rise.
• If CPI is lower than the forecast, the USD will fall.
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!
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.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
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!