The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Will inflation push the greenback higher?
What will happen?
The United States will publish a monthly Inflation Rate and Core Inflation Rate on May 12, at 15:30 MT time. The Inflation rate measures the change in the price of goods and services. The core indicator is different as it does not include food and energy prices. The Federal Reserve pays particular attention to these indicators because a rise in inflation pushes the regulator towards monetary policy tightening. As a result, the US dollar goes higher.
How to trade on the releases of Inflation and Core Inflation?
Nothing can be easier! Pay attention to the forecasts in the economic calendar and trade in the right direction right after the release.
- If the indicators are higher than the forecasts, the USD will go higher;
- On the other hand, the USD will weaken against other currencies.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
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).
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).