The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
Tag - cad - canadian dollar
Recently, the Bank of Canada hiked the interest rates by 50 basis points. It is now 1.5%, and it’s only the beginning.
For analysis, technical levels, and market opportunities for your favorite trading instruments, watch a new video by FBS
This week we will see two CPIs, five PMIs, and a dozen statements from banks governors from all over the world. Why do you need to follow these releases? Because it is a perfect opportunity for markets to gain volatility and for you to earn on this volatility.
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.
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.
Bank of Canada (BOC) will make a statement on December 8, 17:00 GMT+2.
Crude Oil inventories report will help all energies to gain volatility and choose a direction | Gold is falling, but there is possible long entry | October 27
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
This week will bring us many interesting events for traders: inflation reports from the UK, Canada, and also PMI reports from the EU, UK, and the US. It will affect almost the entire Forex market. Watch the video to get fresh trade ideas for the week ahead!