
We prepared an outlook of major events of this week. Check it and be ready!
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on July 13 at 15:30 GMT+3. These indicators show a change in the price of goods and services purchased during the previous month. The main difference between the headline and the core indicator lies in the calculations. The Core CPI excludes food and energy prices due to their volatility.
Rising inflation in the United States worries traders and investors. Last month, consumer prices in the United States jumped 1%, much higher than the 0.7% forecasted. As for the core CPI, it strengthened by 0.6%. The annual inflation rate hit 8.6%, the highest level since December 1981. With rising fears of a recession, traders pay a lot of attention to the changes in US inflation, as it may push the Fed towards more aggressive monetary policy decisions. Thus, the release greatly impacts the pairs with the US dollar.
Last time, the USD significantly advanced against other currencies on strong inflation figures. As a result, EURUSD dropped. If you traded EURUSD on that day with one lot, you could have earned around $780.
Wait for the actual figures to appear in the Economic Calendar and compare them with the forecasted ones.
Instruments to trade: EURUSD, USDJPY, XAUUSD.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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