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United States CPI results will move the dollar!
United States’ Bureau of Labor Statistics will release monthly CPI and core CPI on September 14, 15:30 GMT+3.
United States’ Bureau of Labor Statistics will release monthly CPI and core CPI on September 14, 15:30 GMT+3. The Consumer Price Index measures the average change in prices that consumers pay for a basket of goods and services. The CPI statistics cover a variety of individuals with different incomes, including retirees, but does not include certain populations, such as patients of mental hospitals.
Investors, traders, banks, and governments are watching CPI data because it is the most widely used measure of inflation. If the inflation rate is high (or higher than expected), banks will probably raise interest rates in order to slow inflation. Almost every release of CPI has been accompanied by massive movements in USD-related assets and USD currency pairs.
June saw an unusually high MoM CPI data and it has caused a surge in USD.
How to trade on the CPI data?
Due to the importance of CPI data, it may influence all USD pairs greatly. Furthermore, you can watch after other events related to USD and combine them to catch an even greater price movement.
Check the economic calendar
Instruments to trade: EUR/USD, GBP/USD, NZD/USD, USD/JPY.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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