The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
The USD may be supported by the releases
The United States will publish the level of CPI and core CPI at on October 10 at 15:30 MT time. CPI is an important indicator, which accounts for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the Fed to raise interest rates. Last month CPI came out in line with the forecast at +0.1%. As for the core level of CPI (without food and energy process), the actual figures showed an increase of 0.3% (vs. the forecast of 0.2%). If this time the releases are greater than the expectations, the USD will get positive momentum.
• If the indicators are higher than the forecast, the USD will rise;
• If the indicators are lower than the forecast, the USD will fall
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.