Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
High-Impactful Event for Forex: US Retail Sales
What will happen?
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3). There are two versions: Core Retail Sales and Retail Sales. Both indicators measure the change in the total value of sales at the retail level, but the core release excludes auto sales due to their high volatility.
Why is it important?
Retail sales are the primary measure of consumer spending, which accounts for the majority of overall economic activity. Last month, both releases encouraged the USD bulls with greater-than-expected numbers which were way better than initially thought. As a result, USD/CAD rocketed!
How to trade on US Retail Sales?
It’s easy! Just compare the actual Retail Sales with the market forecast, which appears a few days before the report in the economic calendar.
- If the sales are greater than the forecasts, the USD will surge.
- Otherwise – fall.
Instruments to trade: EUR/USD, USD/JPY, USD/CAD, and all other majors
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
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