Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
How Will USD React To The US PPI?
Information is not investment advice
What will happen?
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The Producer Price Index (PPI) measures the average change over time in the selling prices received by domestic producers for their output. The prices included in the PPI are from the first commercial transaction for many products and some services.
Last time the index was above the expectations. However, EURUSD gained 650 points within four hours. If you traded one lot, you could have earned $650.
How to trade on the US PPI?
- If the US PPI is greater than forecast, the USD will likely strengthen against other currencies.
- If the US PPI is lower than forecast, the USD will likely weaken against other currencies.
Instruments to trade: EURUSD, USDCAD, GBPUSD.
Open the EURUSD chart and follow the event at 15:30 MT time!
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
The BOC will report its Monetary Policy on Wednesday, April 13, at 17:00 MT (GMT+3).
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.