Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Will the economic data drive the USD up?
Information is not investment advice
What will happen?
The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15. American economic recovery has been the prevailing topic for traders in the past few months. It seems like everything depends on it: the better the US figures, the higher the probability that the American central bank, the Federal Reserve, will start increasing interest rates. Higher rates, in turn, will make traders buy the greenback and sell gold.
Notice that in April US retail sales unexpectedly stalled as the boost from stimulus checks faded, while PPI spiked 6.2% for the 12 months ended in April.
How to trade on the US data?
Ahead of the release, determine support and resistance levels for the pairs that have the USD in them. If the difference between the forecast and the actual number is big, the price will likely break those levels.
- If the actual figures exceed forecast levels, the USD will rise.
- If the releases disappoint, the USD will fall.
Instruments to trade: EUR/USD, USD/JPY, USD/CAD, XAU/USD
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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