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Will the GDP growth strengthen the EUR?
The Euro Area will publish the GDP growth on Tuesday, at 12:00 MT time.
Instruments to trade: EUR/USD, EUR/JPY, EUR/CHF
This is the leading indicator of the economic activity of a region. As it measures the value of all products and services produced by an economy, it plays a significant role in the assessment of economic activity. A higher GDP indicates good conditions of the economy and increases the investment attractiveness of domestic currency. After the rise of 0.1% in the previous period, analysts expect the GDP growth to fall by -3.8% in the first quarter.
- If the actual level of GDP is higher than the forecasts, the EUR will rise;
- If the actual level of GDP is lower than the forecasts, the EUR will fall.
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The market sentiment is risk-off. Stocks are falling, while the safe-haven US dollar is edging higher. Meanwhile, oil advanced after the OPEC meeting.
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).