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.
Trading plan for March 29
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.
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?
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.