Important events for March 9-13

Important events for March 9-13

Inflation data: overshadowed by the risky factor

On Wednesday, the United States will publish the inflation data at 15:30 MT time. This data, represented by headline and core consumer inflation indices, usually has a great impact on the USD. However, this time we may not see the figures accurate enough to suggest the actual conditions of the US economy due to the ongoing coronavirus outbreak in the United States. For now, analysts forecast the headline CPI to remain at the same level. As for the core data, it is forecast to advance by 0.2%.

ECB: waiting for the next move

The European Central Bank is going to be under the spotlight this week due to its meeting on Thursday at 14:45 MT time. Why? That’s because it will be the first meeting since the start of the coronavirus outbreak and an emergency rate cut by the Federal Reserve. The question which comes to our mind is: will the ECB President Christine Lagarde follow the Fed’s move? Analysts doubt about that. Some see just a small number of measures, including targeted longer-term refinancing operations (TLTRO) and an increase of the Corporate Sector Purchase Programme (CSPP).  For sure, this is going to be a real challenge for the new ECB president. Thus, we need to pay attention to the fresh announcements by the regulator and the speech by Ms. Lagarde during a press conference.

Great Britain releases its budget

Another important event of the next Wednesday will be the British annual budget release at 14:30 MT time. Although it may be overshadowed by the coronavirus fears as well, it has the potential to shake the British pound.



USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Uptrend in Gold Starts Now
Uptrend in Gold Starts Now

Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

What Currency Will Overperform?
What Currency Will Overperform?

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.

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