The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
USD ahead of consumer sentiment report
The US consumer sentiment will be published on July 17 at 17:00 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
There are two types of consumer sentiment reports: preliminary and revised. This one is preliminary, that’s why it has more influence on the market than the second one. The consumer sentiment is the one of main assessments of financial health of the country. Now, the USA is suffering from the fresh virus resurgence. Confirmed daily cases are increasing every day. As a result, it may deteriorate the consumer sentiment. Two last reports exceeded expectations. However, now we can’t be sure what the result will be.
If the US consumer sentiment is better than expected, the USD will surge.
If the US consumer sentiment is worse than expected, the USD will fall.
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).