Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Traders Await US Retail Sales
What will happen?
US Retail Sales will be out on November 16 at 15:30 MetaTrader time (GMT+2). If you open the economic calendar, you will notice that there are two versions of this indicator: Core Retail Sales and Retail Sales. What is the difference? The core release excludes auto sales due to their high volatility.
Why is it important?
Retail sales are the primary measure of consumer spending, which accounts for the majority of overall economic activity. Last month, both reports were greater than expected. As a result, USD/JPY rocketed by 150 points!
How to trade on the indicators of Retail Sales?
This report is important for traders as it affects the US dollar – the most traded currency in the Forex market!
- If the indicators are greater than the forecasts, the USD will rise.
- Alternatively, the USD will drop.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY, XAU/USD
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.