That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering.
Retail sales may strengthen the USD
The USA will publish retail sales and core retail sales on November 17, at 15:30 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
In general, the indicators of retail sales demonstrate a change in the total value of sales by consumers and businesses. They help to understand current consumer demand and suggest whether the economy is heading towards expansion or contraction. Traders take into account not only the headline indicator but also the core one. The latter is calculated without volatile automobile sales, making figures more accurate. Based on the data published, we may propose the further destiny of the USD. Last time, both headline (+1.9%) and core (1.5%) indicators outperformed the forecasts. This news pushed the US dollar higher in a short term.
- If the indicators are higher than the forecasts, the USD will go up;
- In case of an alternative scenario, the USD will fall.
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The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!