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Trading GBP on the news
The British yearly CPI will be released at 11:30 MT on January 15
Since July 2019, the UK inflation has been consistently falling from the high of 2.1% to the low of 1.5% in October and November. This tendency puts additional pressure on the GBP which already suffers from the domestic economic weakness and the upcoming divorce with the European Union. In addition, the fears of the no-deal Brexit are getting stronger as the possibility that the UK and the EU will manage to negotiate all important things on time slowly turns into an impossibility. In this context, another indication of the slowdown in the British economy may drive the pound further down.
- If the CPI outperforms the forecasts, the GBP will be supported;
- If the CPI comes lower than the forecasts, the GBP will decline.
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
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.
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?