The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
The US inflation data is out!
US Monthly PPI will be announced on Friday at 15:30 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
In any market, the price is the reflection of demand. Producer Price Index is an aggregate indicator of prices of finished goods and services sold by producers in the US. 40% of the PPI is taken by the food and energy sector so there is also Core PPI which excludes those two sections of the market to present more balanced data. The last three times, both PPI and Core PPI were above the market expectations – that confirms that the US economy is recovering, even if it’s not as fast as the people would like it to happen. Therefore, if the coming figures will be higher than the forecast, the USD will rise on the optimism of economic recovery.
- If the data is better-than-thought, the USD will rise.
- Otherwise, it will fall.
The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15.
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