The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
US CPI & Retail Sales
|The US will release core CPI and retail sales data for September at 15:30 MT time on October 13. US retail sales unexpectedly fell in August as Hurricane Harvey likely depressed motor vehicle purchases. As for inflation, it picked up in the last summer month. Traders will want to see whether this improvement becomes a trend.|
|The state of the American economy is currently in the center of the market’s attention, so the releases may cause significant moves in the USD offering a good trading opportunity. Have a look at core readings of both indicators, which don’t include volatile components as well – these readings will make the picture clearer.|
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.