How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The UK Inflation: Bad News for GBP Again?
What will happen?
The UK CPI, Consumer Price Index, will come out on Wednesday, July 20, at 09:00 MT time (GMT+3).
It's an important indicator for currency valuation because rising prices lead the central bank to raise interest rates. Since the UK inflation remains at a 40-year high, the report will cause significant volatility for the British pound.
Last time, the actual data met the expectations. However, inflation remained at a critical level. As a result, GBPUSD lost 630 points the next hour after the release. If you traded one lot, you could have earned $630.
How to trade on UK CPI?
- If the UK CPI exceeds the Forecast, the GBP will likely strengthen against other currencies.
- If the UK CPI is lower than the Forecast, the GBP will likely weaken against other currencies.
Check the Economic Calendar.
Instruments to trade: GBPUSD, GBPCAD, EURGBP.
Similar
Is Inflation Defeated?
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.
Who Will Rule the US?
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.
Latest news
Get Ready for the NFP Release
Good Friday, traders! The markets are frozen ahead of today's NFP release at 15:30 GMT+2…
US Dollar Index at a 3-month Low
The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?
Soon Bullish Rally for Gold
The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.
