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The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15. American economic recovery has been the prevailing topic for traders in the past few months. It seems like everything depends on it: the better the US figures, the higher the probability that American central bank, the Federal Reserve, will start increasing interest rates. Higher rates, in turn, will make traders buy the greenback and sell gold.
Notice that in April US retail sales unexpectedly stalled as the boost from stimulus checks faded, while PPI spiked 6.2% for the 12 months ended in April.
Ahead of the release, determine support and resistance levels for the pairs that have the USD in them. If the difference between the forecast and the actual number is big, the price will likely break those levels.
Instruments to trade: EUR/USD, USD/JPY, USD/CAD, XAU/USD
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
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