Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
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.
Similar
Big Event for GBP: Bank of England’s Statement
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
Strong US Retail Sales Pressed Gold
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
Latest news
What will move the market on October 25-29?
Last week was full of surprises! Stock indices have shown significant growth…
Will USD Stop Falling Today? Market Wrap
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Deposit with your local payment systems
