Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
Retail data for Canada is an opportunity for the CAD
Canada will announce the Canadian retail sales and core retail sales on August 21, at 15:30 MT time
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
The indicator of retail sales shows the change in the total value of sales at the retail level. The core version of this indicator is almost the same but without automobile sales. Last time, both indicators came out not as high as they were expected to be. While the headline indicator increased by 18.7% (vs. +20.2% expected), the core one rose by 10.6% (vs. the forecast of +11.9%). Despite the negative release, the CAD strengthened against the weaker US dollar. However, this time the situation may be completely different.
- If the indicators are higher than the forecasts, the CAD will go up;
- If the indicators are lower than the forecasts, the CAD will go down.
The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
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.