
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
The US will publish the Producer Price Index (PPI) on December 14, Tuesday, at 15:30 GMT+2 (MetaTrader time).
PPI is a leading indicator of inflation which shows the change in the price of finished goods and services by producers. Bigger charges by producers lead to higher costs for consumers and push inflation up. The higher inflation is – the greater the probability that the Federal Reserve will increase the rates. Higher rates, in turn, will push the US dollar up and gold down. This report has become especially significant as the Fed will meet already on December 15, where it may announce the rate hike.
Last time, the PPI was 0.6% – exactly as analysts expected. It raised concerns that the Fed could leave the rates at the current lows for longer – a bearish factor for the greenback. Thus, the USD dropped and EUR/USD surged by 230 points after the report.
Note that when the USD rises, EUR/USD falls as the USD is a quote currency.
Open the economic calendar a few days before and check the forecast. If it is significantly higher than the previous figures, the USD can start rising before the event, and vice versa. Then, wait for the actual results to come out.
Instruments to trade: all the major pairs and XAU/USD
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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