At 13:30 GMT on Wednesday, the publication of the US Retail Sales caused a drop of the USD value. The EUR/USD surged 13 base points or 0.12% in the first five minutes after the data release. Retail sales had increased in November by 0.3%, compared to the forecast of 0.8%. Meanwhile, Core Retail Sales also came in at 0.3% instead
On Wednesday, at 07:00 GMT, the UK Inflation data was published. The event caused a spike in the value of the GBP. However, the currency almost immediately returned to previous levels. For example, the GBP/USD jumped and retraced back by 22 base points or 0.16% in less than five minutes. The year-on-year UK Consumer Price Index results came in at 5.1%
At 13:30 GMT on Friday, US monthly Consumer Price Index data was published. CPI came in at 0.8% instead of forecast 0.7%. Meanwhile, Core CPI hit the forecast of 0.5%. The EUR/USD reacted to the news with a 42 base point or 0.37% jump upwards, as the USD lost value.
The week is set to be the most busy and vital for macroeconomic data and central bank announcements that has been observed during the recent years. Namely, four central banks of the USD, EUR, GBP and CHF are making policy announcements. Meanwhile, five consumption data sets and Purchasing Managers Index survey results will be released. On Tuesday, at 13:30 GMT, the
On December 8, the Bank of Canada published its Rate Statement and Overnight Rate. The central bank kept its interest rate and government bond holdings unchanged. The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.
On December 7, the Reserve Bank of Australia published an official monetary policy statement. In addition, the official cash rate was revealed. The central bank kept its interest rate unchanged and it would continue to purchase government securities at a pace of $4 billion per week until the middle of February 2022. Meanwhile, the statement includes comments on the Delta
At 13:30 GMT, the publication of the US monthly employment data caused a 40 base point spike on EUR/USD charts. In general, the value of the USD dropped on all USD involved pairs and commodity price charts. The US Average Hourly Earnings disappointed, as wages in November had grown by 0.3% instead of the forecast 0.4%. Namely, average hourly pay
During the week, main attention is set to be put on the Reserve Bank of Australia and the Bank of Canada bank rate publications on Tuesday and Wednesday. However, minor USD moves could still occur in the second part of the week. On Tuesday, the Reserve Bank of Australia will publish its Cash Rate at 03:30 GMT. On Wednesday, at 15:00
This week, the main event will be the release of the US employment data on Friday at 13:30 GMT. The release will consists of the publication of the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate. Also on Friday, the Canadian Employment Change and Unemployment Rate are set to be published at 13:30 GMT. The Canadian Dollar is expected to
On Wednesday, at 13:30 GMT, the Canadian Consumer Price Index data release hit the market forecast at 0.7% growth. The announcements caused a drop of the value of the Canadian Dollar. The USD/CAD currency exchange rate reacted to the release with a surge of 46 base points.
The week prior, the US inflation data was released, which is the first one in a series of global consumption data sets. This week, the UK and Canadian consumer price indices will be published. Moreover, the US, UK and Canadian Retail Sales data will be published. All of the events have caused from minor to high impact on the underlying
At 13:30 GMT, on Wednesday, the US statisticians published monthly US inflation data. The numbers were higher than forecast, which caused a short lived USD surge. For example, the EUR/USD currency exchange rate dipped 24 base points or 0.21%. However, the pair returned to previous levels after just 15 minutes. The data caused the drop due to the US Consumer Price
At 12:30 GMT, the US monthly employment data caused a strengthening of the USD. The EUR/USD immediately dropped 22 base points or 0.19%, on the release of data. The release consisted of three data sets. The Average Hourly Earnings hit the forecast of 0.4% increase. Non-Farm Employment Change revealed a 531K increase, compared to the forecast 455K. Meanwhile, Unemployment Rate was
The second week of November is expected to be a calm one, as there are no scheduled data releases, which have shown to be capable of causing notable volatility. However, note that US inflation data sets will be published during the week. US monetary policy makers use the data as a benchmark for their decisions. On Tuesday, the US Producer Price
On November 4, the Bank of England announced its future monetary policy. The Official Bank Rate, Bank Rate Votes, Asset Purchase Facility and Asset Purchase Facility votes were revealed. Namely, the bank published both the policy decision and how the members of the monetary policy committee voted. In general, the bank decided to keep monetary policy unchanged. However, instead of
On November 3, the US Federal Reserve Federal Open Market Committee published its statement. In general, the central bank announced that it would decrease monthly asset purchases by $15 billion. Meanwhile, the Federal Funds Rate remained unchanged. Quoting the statement: " The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it
At 12:30 GMT, on Wednesday, the yellow metal's price started a drop, which lasted two hours, and gold lost 1.50% against the US Dollar. The move could be attributed to the publication of good US employment data. Namely, the ADP Non-Farm Employment Change was released at 517,000 instead of the forecast 400,000. However, the data was released at 12:15 GMT
On November 2, the Reserve Bank of Australia published its official Cash Rate and Rate Statement. In general, the bank left the Cash Rate unchanged and revealed that it would continue to purchase government assets until February 2022. However, the bank dropped the target of 10 basis points for the 2024 Australian Government bond. Quoting the statement: " maintain the cash rate
On Friday, at 12:30 GMT, the Canadian GDP data was published. Due to being lower than forecast, the GDP data caused a Canadian Dollar drop. The event caused a 42 base point 15 minute long surge of the USD/CAD currency exchange rate. On a month-to-month basis the Gross Domestic Product of Canada increased by 0.4%. However, the market consensus forecast
During the week, the top event of them all will take place. The US Federal Reserve Rate announcement on Wednesday is bound to take away attention from all the rest of the events. Although, there are still times, during which volatility will increase due to data being published. On Monday, the US ISM Manufacturing PMI will be published at 14:00 GMT.
At 12:30 GMT on Thursday, the US Advance GDP data for the quarter was released. The GDP grew by 2.0% instead of the forecast 2.6%. The EUR/USD reacted to the event with a 15 pip move up. However, immediately after, the rate dipped 10 pips, back to 1.1590. The dip was attributed to the Advance GDP Price Index, which
On October 28, the European Central Bank published its Monetary Policy Decisions. The central bank kept interest rates unchanged and revealed that it would continue its asset and pandemic purchase programs. Quoting the statement: " The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25%
On October 28, the Bank of Japan announced its Policy Rate and published the Monetary Policy Statement and the BOJ Outlook Report. In general, the bank kept its monetary policy unchanged, as the rate remained at -0.1% and the 10-Year Japanese Government Bond yield target would remain at 0.00%. Quoting the statement: " The short-term policy interest rate: The Bank will apply a
On October 27, the Bank of Canada announced its policy rate and published its Rate Statement together with the Monetary Policy Report. In general, the bank kept its interest rate unchanged. However, the bank revealed that it expects that it would hike interest rates in the middle of 2022. Moreover, the bank stated that it would end its quantitative easing