
On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
At 11:30 MT time we anticipate the release of the current account for Great Britain. It represents the difference in value between imported and exported goods. According to the forecasts, the indicator will increase to -22.9 billion. Higher figures will support the GBP. Also today the British lawmakers will vote on the unfortunate Brexit deal by Theresa May. The debates will begin at 16:30 MT time. If her deal passes, the Brexit date will move on May 22. Theresa May also vowed to resign, if her deal passes at the Parliament. If the deal fails to get support today, the GBP will suffer, as the prospects of a no-deal Brexit will increase.
Also today, Canada anticipates the release of its monthly GDP growth at 14:30 MT. According to the forecasts, the indicator will advance by 0.1%. Higher figures will boost the Canadian currency.
On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
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 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?
More reports, the start of a rally in crypto, outlook for gold and forex. This week is full of impactful releases, and we are here to trade on them.
Gold is about to break the most significant support. The US dollar index keeps gaining momentum. However, the situation might change this week, and we might see a tiny correction. Investors might return to risk-on and push the US stock market indices and cryptocurrencies to the upside. These and more trade ideas are in our new weekly video! Do not miss it!
This week is likely to be pivotal for many assets, including gold, USD, and several stocks. However, we need to be focused and react fast to the ever-changing environment to get the most from it.
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