In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
The US GDP: What’s New?
What will happen?
The US will announce the advanced Gross Domestic Product (GDP) on July 28 at 15:30 MT time. The indicator comes out quarterly and shows the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
How can the USD react?
Last data was worse-than-expected: -1.4% vs 1.1%. As traders counted on another result, the greenback fell before the release and then fluctuated. If you traded one lot at the moment of release coming out, your income could have been $375.
How to trade on the US GDP release?
- If the Actual is better than the Forecast, the USD will strengthen even more.
- If actual numbers are worse than expected, the USD will fall.
Check the Economic Calendar.
Instruments to trade: EURUSD, USDCAD, USDCHF, XAUUSD.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
US stock markets started falling, while the US dollar is rising. What to expect from
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.