Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
What Do Retail Sales Mean for the US Economy?
What will happen?
The US will publish Retail Sales and Core Retail Sales on July 15, at 15:30 GMT+3. Both indicators demonstrate a change in the total value of sales at the retail level. Core Retail Sales differs from the primary indicator as the former does not count automobile sales.
Why is it important?
The retail data helps track consumer spending, which accounts for most of the overall economic activity. If the economic activity escalates, the country's overall economic health improves. In the previous release, both Retail Sales and Core Retail Sales were lower than the forecasts. The headline Retail Sales dropped by 0.3%, while the Core Retail Sales were at 0.5% (vs. 0.7% expected). Despite that, EURUSD showed a mixed reaction to the release. If you bought EURUSD on that day with one lot, you could have earned more than $130.
How to trade on US Retail Sales and Core Retail Sales?
The indicators are likely to influence the USD pairs. You should wait for the releases and compare actual figures with forecasted ones in the economic calendar.
- If the actual numbers beat expectations, the USD will go up.
- On the contrary, lower numbers will pull the USD down.
Instruments to trade: XAUUSD, EURUSD, USDCAD, USDCHF.
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
Good Friday, traders! The markets are frozen ahead of today's NFP release at 15:30 GMT+2…
The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?
The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.