The United States will publish the ISM Manufacturing PMI on September 1, at 17:00 MT time (GMT+3).
Trade ideas for June 14-18
The Bank of Canada and the European Central Bank held meetings last week. Both regulators upgraded economic forecasts, but the ECB didn’t talk about monetary tapering. That makes the CAD stronger than the EUR. Now all eyes are turning to the Federal Reserve and the US dollar.
In our opinion, gold offers one of the best opportunities to trade on the US data releases and the Fed. American inflation jumped to the highest level since August 2008. However, the Federal Reserve keeps saying that the rise in prices is only temporary, so there is no need to act. If the central bank sticks to this view on Wednesday, XAU/USD will get green light for the further advance. If the Fed uses its press conference as a chance to announce a shift in its mood, gold will decline.
The most popular currency pair keeps trading between 1.22 and 1.21. The Fed’s meeting will determine whether it manages to stay within the medium-term uptrend or moves lower. Overall, the strength of the single currency will be put to test.
Keep an eye on the pairs with the pound, such as EUR/GBP, GBP/JPY, and GBP/USD. If the tensions between the EU and the UK subside, the British currency should enjoy a boost.
Oil price optimism has been increasing in recent weeks. Brent rose to levels above $72. It seems that Iranian oil won’t return to the market soon and the demand is recovering. With the increase of the Coronavirus cases being the main risk for the bullish scenario, we turn our eyes to higher levels.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!