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The British retail sales will be announced on Friday at 9:00 MT time.
Instruments to trade: GBP/USD, GBP/CAD, GBP/AUD, GBP/CHF, GBP/JPY, GBP/NZD
Let us remind you that the British lockdown started on March 24. For two weeks from that day sales dropped by 27%! It happened as all the stores except supermarkets were closed. According to the British retail consortium, in comparison with 2019, this years’ March sales fell by 4.3%. That was the largest sales fall in the history of the UK. Even the panic-buying ahead of the quarantine didn’t help to increase the spending rate. As a result, the British pound plummeted. Now we are waiting for the retail sales data from the government. As the country extends the lockdown, the numbers will probably be disappointing.
If the retail sales’ indicator is greater than the forecast, the British pound will rise, otherwise – fall.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.
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