The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Will oil change the trend after OPEC meetings?
Information is not investment advice
What will happen?
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. The meetings are closed to the press, but officials usually talk with reporters throughout the day. OPEC releases a formal statement covering policy shifts and meeting objectives after the meetings.
Last time, OPEC didn’t change the previous plan and increased production by 0.432 mb/d for May 2022. As a result, XBRUSD lost more than 5% within the day. If you traded one lot, you could have earned $5300.
How to trade on OPEC meetings?
- If OPEC increases supply, oil prices will fall.
- Otherwise – rise.
Instruments to trade: XBRUSD, XTIUSD.
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.