Record in stocks, Bank of England & OPEC / Trade ideas for November 4

For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.

The oil prices have declined this week after the new Omicron strain was identified. What should we expect next from oil?

The higher prices seen today are generally related to the pandemic, that’s no doubt. US consumer prices jumped in October at the fastest pace in three decades putting the Biden administration on the defensive and increasing prospects that the Federal Reserve will raise interest rates next year. Jerome Powell says Fed will discuss speeding up bond-buying taper at the December meeting. What does it mean for markets?

FOMC statement on Wednesday 26th will shake currency and US stock markets. Also, Wednesday will be a significant day for the Canadian dollar. As the Bank of Canada monetary policy report will be announced. Volatility will also be added by the crude oil inventories report. Watch this video to learn more about the future of USD, CAD and the US stock market.

This week traders await earnings of Bank of America and Netflix. In addition, there will be important data releases for GBP/USD. Oil may test yet higher levels. Watch the video to get trade ideas for Forex, stocks, oil, and gold!

Despite Jerome's Powell hawkish speech, the greenback fell on Tuesday as investors returned to investment in risk assets…