Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Tag - inflation
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.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.
Check the big and important update for Forex and commodities' traders
After NFP greatly exceeded expectations, the market players turn their heads to the release of US CPI, which may push the Fed to hike sooner…
The Consumer Price Index will be out at 15:30 MT (GMT+2) on Wednesday, January 12.
The United States will publish Core PCE Price Index on Thursday at 15:30 GMT+2.
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
EUR/USD has dropped sharply to the low unseen since July 2020. The reason was the higher-than-expected US inflation figures that shocked investors as the annual Inflation Rate rocketed to the 31-year high of 6.2%.
The US Inflation Rate (CPI) will be released on Wednesday, November 10, at 15:30 MT (GMT+2).
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!