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.
Pay attention to the important releases for the USD
The United States will release the level of retail sales and core retail sales on May 15, at 15:30 MT time. The indicators represent the change in the total value of sales at the retail level. According to the forecasts, the headline retail sales will advance by 0.2%. As for its core level, which excludes the sales of automobiles, it is expected to increase by 0.7%. Last time the indicators came out better than the forecasts. It pushed the USD up significantly. Will the situation repeat itself this time?
• If the actual levels of indicators are higher than the forecasts, the USD will go up;
• If the actual levels of indicators are lower than the forecasts, the USD will go down.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).