USD ahead of consumer sentiment report

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.

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Key Forex Event: US Inflation Rate
Key Forex Event: US Inflation Rate

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.

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