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The Euro Awaits Indicator of Consumer Confidence
What will happen?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2. It is based on a survey of 2000 individuals. The components of the indicator are calculated as the difference between positive and negative answers to the questions asked.
Why is it important?
Consumer Confidence shows how individuals see current economic conditions and give a preview into the economic activity of the Eurozone. If the level of indicator is strong, it indicates better economic conditions. As a result, the euro rises.
How to trade on the GfK Consumer Confidence?
Follow the economic calendar and compare the actual figures with the consensus given.
- If the sales are higher than the forecasts, the EUR will rise;
- If the situation is different, the EUR will fall.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.