Oil market updates on October 9
Heads up to the release of weekly crude oil inventories at 17:30 MT!
US Retail Sales
A change in retail sales is one of the most important economic indicators for the US economy and the USD. The bigger the reading of this indicator, the more American people spent on various products. Consumer spending is a vital piece of data that helps to determine the economic health of a country. Retail sales are the earliest and the broadest gauge of consumer spending data, that’s why investors pay great attention to this indicator. The retail sales figure will be released on July 16 at 15:30 MT time.
The difference between the forecast and the actual data makes the currency move. Up to date, the US dollar has been highly volatile depending on economic data. The retails sales figure won’t be an exception.
• If the data is greater than the forecast, the USD will rise.
• If the data is weaker than the forecast, the USD will go down.
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Update for oil market
Crude oil inventories will be out at 17:30 MT time
Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
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The opportunities for the CAD and the GBP for the second day in a row
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