The market sentiment is mixed, but there are still interesting movements on the market.
Trade the British pound on the inflation data
The level of British consumer price index (CPI) will be released on January 16 at 11:30 MT time.
This indicator accounts for a majority of overall inflation. The data is very important, as the bank of England uses it to measure the inflation level. Last month the index remained at the same level of 2.3%, as it was forecast by analysts. Higher-than-expected data will bring a positive momentum to the British currency.
• If CPI is higher than expected, the GBP will rise;
• IF CPI is lower, than expected, the GBP will fall.
US Core monthly retails sales will be announced on Friday at 15:30 MT time.
Stock significantly surged: S&P 500 and Nasdaq reached 6-week highs. The market sentiment may deteriorate today as Johnson & Johnson’s Covid-19 vaccine trails have been stopped because of the unexplained illness.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.