The Key Economic Event That We Are Focusing On For This Week In The Forex Market.

Category: Fundamental News

1. Wednesday- GBP Gross Domestic Product (m/m) @9.30am
2. Thursday- USD Consumer Price Index (m/m) @1:30pm

GBP GROSS DOMESTIC PRODUCT: The UK will release its monthly GDP estimate on Wednesday. The GDP is forecasted to have increased by 1% in August. Also, on a 3-month basis, growth is expected at 0.6%. A better than expected GDP will be positive for GBP while A worse than expected will be negative for the pound. However, Brexit remains the key driver for the GBP and uncertainty related to the outcome of their meeting is likely to keep the GBP volatile.

US CONSUMER PRICE INDEX: The United States will release its inflation report on Thursday. The consumer price index is forecast to rise by 0.2% from 0.1% last month. The CPI has been trending down due to the impact of the strong dollar. Core goods prices fell for the first time in three months, as apparel prices fell 1.6%, reflecting renewed downward pressure on core goods prices owed to recent dollar appreciation. A weaker than expected figure will weaken the dollar while a stronger than expected figure will strengthen the dollar.

Published: 2018-10-09 04:40:44