Crucial News For The Following Week
Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
Will CPI push USD higher?
What will happen?
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
The index accounts for most of the overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates.
Last time, the CPI met the expectations but beat the previous month's numbers. As a result, the EURUSD lost more than 500 points. If you traded one lot, you could have earned more than $500.
How to trade on the US CPI?
- If the US CPI is greater than forecast, the USD will likely strengthen against other currencies.
- If the US CPI is lower than forecast, the USD will likely weaken against other currencies.
Instruments to trade: EURUSD, USDCAD, GBPUSD.
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