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 USD may rise on the release
The United States will publish the level of quarterly advance GDP growth on April 26, at 15:30 MT time.
The GDP growth shows the annualized change in the value of all goods and services. We pay attention to its advance release as it is the earliest data, which tends to have the biggest impact. Last time the indicator increased by 2.2%. The actual figures were higher than the expectations. As a result, the greenback got positive momentum. If the situation repeats itself this time, the USD may rise again.
• If the actual level of the indicator is higher than expected, the USD will go up;
• If the actual level of the indicator is lower than expected, the USD will go down.
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.