
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD (that is the majority of all pairs on Forex). Inflation rate measures month over month change in the price of goods and services. Last time, inflation increased by 0.4% month-over-month in February of 2021, exactly as expected.
It depends on whether the actual numbers exceed the market estimate or not. The forecast should appear a few days before the release in the economic calendar. The better-than-expected inflation rate would mean that the US economy is recovering faster than projected. As a result, the USD will surge. In the opposite scenario, it will fall. Here’s the rule below, but remember that every rule has exceptions sometimes!
Instruments to trade: EUR/USD, GBP/USD, AUD/USD, USD/CAD
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
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