The key economic events for this week December 9-13
1. Wednesday – US Consumer Price Index (m/m) @ 2:30pm
2. Wednesday-- US Interest Rate Decision @ 8:00pm
3. Friday- US Retail Sales (m/m) @ 2:30pm
US CONSUMER PRICE INDEX – The US will release its consumer price index report on Wednesday. The figure is expected to show 0.2% (m/m) which is a bit lower than the prior month while it is expected to show 2%(y/y). A better than expected outcome will strengthen the USD while a weaker than expected will be negative for USD.
US INTEREST RATE DECISION –The United nation will release its interest rate figure on Wednesday. The Fed is widely expected to hold rate at 1.75%. If the rate remains unchanged could be Bullish for USD and vice versa. We will be paying attention to the accompanying statement. A dovish statement will weaken the dollar while a hawkish statement will strengthen the greenback.
US RETAIL SALES - The United States will release its data for retail sales on Friday. The retail sale is forecast to show a 0.5% increase in November, which is higher than the previous month data of 0.3%. Auto-sales have sluggish recently while other sectors have continued to grow. A better than expected forecast will be positive for dollar while a worse than expected forecast will be negative for the greenback.