empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

15.08.202211:35 Forex Analysis & Reviews: Upcoming economic data will have significant impact on markets (expect a continued decline in EUR/USD and growth in USD/CAD)

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

This week is filled important economic data, which will have significant impact on investors and overall dynamics of global financial markets.

The first thing to pay attention to is the minutes of the July Fed meeting, where markets will see clues on whether the central bank will pause raising rates in August, then decrease in September. The process will largely depend on the behavior of the stock markets and dollar.

The next key event is the release of retail sales data in the US, which will show how serious problems are in the US economy. This will also influence the decision of the Fed on rates.

Another important report is the data on consumer inflation in the eurozone and the UK. Their numbers will determine if the ECB and the Bank of England will extend their rate hike, as well as give clues over its pace. These will have noticeable impact on local stock markets and, of course, on the forex market. Continued inflation will prompt central banks to continue rattling up rates, driving their economies into recession.

Also this week are the release of preliminary data on Q2 GDP in the Euro area, employment report in Australia, and consumer inflation data in Canada. There will also be a meeting of the Reserve Bank of New Zealand, where rates are expected to increase by 0.50% to 3.00%.

But again, the main drivers of markets will be the FOMC minutes, retail sales data in the US, and consumer inflation reports in the UK and the eurozone. Trading may become turbulent this week as some data may shift investors' ideas over the upcoming developments in the markets.

Forecasts for today:

Exchange Rates 15.08.2022 analysis

Exchange Rates 15.08.2022 analysis

EUR/USD

The pair is trading above the support level of 1.0235. Further selling pressure may push quotes to 1.0150.

USD/CAD

The pair is trading below 1.2815. The decline in crude oil prices, as well as the negative start of trading in Europe, may lead to continued local growth to 1.2940.

Pati Gani
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off