That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering.
US Retail Sales Will Impact USD
What will happen?
US Retail Sales will be out on August 17 at 15:30 MetaTrader time (GMT+3). If you open the economic calendar, you will see both Core Retail Sales and Retail Sales indicators. The only difference between them is that the core release excludes automobile sales due to their high volatility, while another report includes auto sales. Last month, both of them pleased the USD bulls with strong numbers which were way better than initially thought. It signaled that demand for goods remained robust despite the recent consumer shift towards services.
How to trade on the indicators of Retail Sales?
This report is especially significant for traders as it concerns the US dollar – the most traded currency in the Forex market.
- If the indicators are greater than the forecasts, the USD will rise.
- Alternatively, the USD will drop.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
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