The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
Important events this week will bring us
- Canada’s core retail sales (Tue, 15:30 MT (12:30 GMT)) – According to the forecasts, the indicator will advance by 0.1%. If the actual level is higher, the CAD will rise.
- French flash services PMI, German flash manufacturing PMI and German flash services PMI (Thu, 10:15-10:30 MT (7:15-7:30 GMT)) – Higher-than-expected figures will be positive for the euro.
- A monetary policy statement by the European Central bank and press conference (Thu, 14:45 and 15:30 MT (11:30 and 12:30 GMT)) – The changes to the interest rate are not expected, but we need to pay attention to the tone of the statement and the comments by the ECB president during press conference.
- US core durable goods orders (Thu, 15:30 MT (12:30 GMT)) – Analysts forecast a decline of 0.2%. If the actual figures outperform the forecasts, the USD will be supported.
- During the weekend, the UK Parliament made a vote, which forced the British Prime Minister Boris Johnson to write to the EU asking for a three-month extension. Today, Boris Johnson will try again to put his deal to a vote in the House of Commons. At first, it is highly recommended to pay attention to the statement by the speaker John Bercow at 17:30 MT time, where he may announce the decision concerning the meaningful vote.
- Monday is an election day in Canada. Some of the analysts suggest that the Conservative party in the government will be better for the loonie than the current Labour one. The competition is going to be a tight one.
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).