Traders Should Know About These Releases

Traders Should Know About These Releases

The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!

Events of the day

  • 15:30 GMT+2 - Canada CPI m/m
  • 15:30 GMT+2 - Retail Sales and Core Retail Sales m/m
  • 16:15 GMT+2 - Monetary Policy Report Hearings

How high can it go with the GBP?

The UK CPI hit another high of 11.1% vs. the 10.7% forecast. The reasons behind it are the country’s energy crisis and the high monetary supply. Apparently, the Bank of England tries to control rising prices with interest rate increases but can’t succeed.

The BOE policy of helping the economy without a sufficient shrinking of the balance sheet has little to no impact. Until the BOE shows some efficient measures, inflation will likely grow. Today, the UK parliament will release its Monetary Policy Report Hearings, where we will refresh our outlook on the bank’s future actions.

As for the GBPUSD chart, the breakout of the 1.1870 resistance will open a road to the 200-daily MA. On the other hand, the insufficiently hawkish meeting will press on the pair, edging it to 1.1630 and lower.

 GBPUSDDaily.png

This news moves the world:

  • Donald Trump formally entered the race for US president in 2024. Also, he called President Biden “The worst thing that happened to the US.”
  • After ten years of research, NASA launched a super-heavy rocket to the moon. In case of success, the next flight will carry astronauts.
  • Two rockets from Russia or Ukraine fell in a Polish village, killing two people. NATO was about to consider this an attack on its territories. However, later countries agreed on making a deeper investigation before any actions.
  • Australia’s central bank is prepared to pause its tightening cycle or return to larger interest-rate increases if the economy requires it.
  • FXT exchange collapse may speed up the process of regulating the cryptocurrency market. Also,
  • An investigation found that Google continued to track people’s location even if they refused such tracking. The company agreed to a $391.5 million settlement.

Stay focused, and it will lead you to victory!

 TRADE NOW

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It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.

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