The US NFP will be published on August 7 at 15:30 MT time.
CPI is a highly important economic indicator as it corresponds to the inflation rate. The inflation rate has a significant impact on the monetary policy of the Federal Reserve. The market anticipates two additional rate hikes this year. As a result, the rise in the inflation data will confirm the possibility of rate hikes.
US CPI data will be out at 15:30 MT time on August 10.
• If the data is greater than the forecast, the USD will go up.
• If the data is weaker than the forecast, the USD will go down.
Check the economic calendar
So far, the inflation rate surged to 2.9% in June. It is the highest level since February of 2012.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
The market has started the week with a mixed sentiment…