Trading plan for March 21

As usual, let’s look at the economic calendar to see if there are any good trading opportunities for today.

The day will be full of the events for the British pound. At first, we need to anticipate the release of the retail sales at 11:30 MT time.  The indicator is expected to decline by 0.4%. If the actual figures are higher, the GBP will be supported. Also, the Bank of England will release its monetary policy summary and announce the official rate at 14:00 MT. We don't expect any changes here, as the central bank is driven by the uncertainties over Brexit. Though, the BOE governor Mark Carney may provide supportive comments for the British pound.   

Of course, the most important event for today is the start of the EU Economic Summit. During this summit, the European leaders will decide on the extension of the Brexit process. Yesterday, the British prime minister told that she was not prepared to delay Brexit any further than 30 June. In response, the European Council Donald Tusk said that such a short Brexit extension would only be possible if Parliament agrees to support the unfortunate Brexit deal until March 29. If the sides reach an agreement today, the GBP will rise. More uncertainties will pull the pound lower. That’s why it’s highly important to follow the updates for today. At 16:30 MT time Theresa May will make her statement to the EU leaders. The final decision by the EU will be expected at around 20:00 MT time.

Similar

CPI May Hit 10%, What to Do?
CPI May Hit 10%, What to Do?

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.

How Powell's hawkish speech will affect the USD and gold?
How Powell's hawkish speech will affect the USD and gold?

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?

NASDAQ, S&P500 crash?
NASDAQ, S&P500 crash?

It seems like most of the assets have joined Black Friday's sell-off with global indices, risky currencies, and commodities going down.

Latest news

FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

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.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera