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.
US Inflation & Retail Sales
|February 14 will be full of events. At 15:30 MT time, American statistical services will deliver four data releases, which will be important for the US dollar. Consumer price index will be counted 2 times: as CPI and core CPI (excluding food and energy). These are key inflation gauges that are closely monitored by the Federal Reserve.|
|Retail sales come in 2 types as well: retail sales and core retail sales (excluding automobiles). The data show the economic activity of the US population.|
|Actual numbers that are better than forecast ones will lead the US dollar to the upside. However, with so many releases at the same time, the probability that they will all be good isn’t very high.|
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.
The overall market sentiment is mixed as investors await the Federal Reserve’s statement today at the evening.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…