Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Important releases for the USD
The United States will publish its PPI and core PPI on December 11, at 15:30 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
Producer Price Index (PPI) is an indicator of inflation. In general, we follow the change in the price of finished goods and services by producers. Bigger charges by producers lead to higher costs for consumers. Therefore, inflation rises. Last time, US PPI advanced by 0.3% (vs. the forecast of +0.2%). As for its core level, which excludes food and energy prices due to their disturbing impact, it increased by a lower-than-expected 0.1%. The USD had limited reaction because of more global events affecting it. However, if the data surprises, we may see the short-term upside momentum this time.
- If the indicators are higher than the forecasts, the USD will go up;
- If the indicators are lower than the forecasts, the USD will go down.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.