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.
Trading plan for February 26
- Let's trade GBP/USD today! At 12:00 MT time we anticipate the inflation report hearings for Great Britain. As about the Brexit news, reportedly Theresa May will make a statement at the parliament around 16:00 MT. This event may shake the GBP as well.
- As of the US, the Fed Chair Jerome Powell will testify on the monetary policy report. His hawkish comments may be supportive for the USD. Also, at 17:00 MT there will be the release of American CB consumer confidence. Check the key levels for EUR/USD.
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?
It seems like most of the assets have joined Black Friday's sell-off with global indices, risky currencies, and commodities going down.
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.