The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Trade GBP on the crucial economic event
British CPI reading will be out at 11:30 MT time on October 17.
The Consumer Price Index is the leading indicator for every economy as it reflects the inflation level. The central bank forms its monetary policy according to this level. That’s why it is not a surprise that great CPI data pulls the GBP up, weak data pushes it down.
Last time the data was released on September 19. It outperformed the forecast (2.7% vs 2.4%). As a result, the GBP/USD pair rose significantly from 1.3097 to 1.3213.
• If CPI is greater than expected, the GBP will rise.
• If CPI is weaker than expected, the GBP will fall.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…