Australia, Canada, and EU Attempt to Steal the Fed Monetary Policy
Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
You Need to Watch After the GDP Release in Britain
What will happen?
Great Britain’s office for national statistics will release preliminary gross domestic product (prelim GDP) on February 11, 9:00 GMT+2. Estimates of GDP are released on a monthly and quarterly basis. Quarterly ones tend to have the most impact as they collect the data from bigger periods. It's the broadest measure of economic activity and the primary gauge of the economy's health.
What is the impact on the GBP?
GDP reflects a change in the inflation-adjusted value of all goods and services produced by the economy. Thus, bigger-than-expected (or just huge) numbers tell us about economic growth. Unfortunately, last time the data turned out to be lower than expected. After the release, GBP/USD lost 700 points in several hours—plenty of time to plan and execute any trade.
How to trade on Britain's GDP release?
The market takes higher-than-expected numbers positively for the GBP, while an opposite reading is bearish for the currency.
- If actual numbers beat expectations – the GBP will rise.
- Otherwise, fall.
Check the economic calendar
Instruments to trade: GBP/USD, GBP/CAD, GBP/JPY.
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Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
USD Moves Weird Ahead of CPI
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
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Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Will the UK and US Cope with Inflation?
Every week we expect many interesting events that can shake the market.
