Tag - inflation

Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!

Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

Yesterday, the Bureau of Labor Statistics released a higher-than-expected Producer Price Index with 0.2% m/m growth in September, meaning producers are still raising prices for goods and services.

In September 2022, USDSGD almost retested its peak of March 2020.  The pair spiked above the 1.4400 level, driven by the strong US Dollar. Despite the obvious dominance of the USD, analysts believe that the Singapore dollar may be the one exotic currency worth our attention. Why do they share this opinion, and should we believe them?

A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.

Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.

The bad news is that the US economy slowed for the second consecutive quarter in 2022, entering a technical recession.

The US central bank will lift interest rates at its next meeting on Wednesday, July 27. We'll watch if the Federal Reserve goes with a 75-basis-point or a 100bp hike. Several factors influence the Fed's decision. In theory, the Fed's goal in using a rate hike tool is to tame inflation without causing a recession.