
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Core Personal Consumption Expenditures (PCE) Index is similar to Core Consumer Price Index (CPI), and the US Bureau of Economic Analysis publishes it monthly. The only difference between them is that PCE measures solely goods and services targeted towards and consumed by individuals. Prices are weighted according to total expenditure per item, which gives important insights into consumer spending behavior. According to many analysts, the Federal Reserve prefers this indicator to estimate inflation.
Because of the 7.5% consumer inflation in the US, the USD is fluctuating, and it is affected by many factors. So, the market is waiting for the beginning of rough changes and hawkish steps by the Federal Reserve. Will the actual release amaze traders this time?
On January 28, 2022, the last release got completely in line with the expectation of 0.5%, the same as the previous releases; however, the USD hit the low and kept fluctuating this day, even though it used to trade at high levels.
Due to the importance of the CPE index, the impact on gold and USD pairs can occur. Gold is considered a hedge against inflation, but high numbers increase the chance for rate hikes so that the metal may fall against the USD.
Check the economic calendar
Instruments to trade: XAU/USD, EUR/USD, USD/CAD, USD/CHF.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
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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