Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
Will CPI push USD higher?
What will happen?
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
The index accounts for most of the overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates.
Last time, the CPI met the expectations but beat the previous month's numbers. As a result, the EURUSD lost more than 500 points. If you traded one lot, you could have earned more than $500.
How to trade on the US CPI?
- If the US CPI is greater than forecast, the USD will likely strengthen against other currencies.
- If the US CPI is lower than forecast, the USD will likely weaken against other currencies.
Instruments to trade: EURUSD, USDCAD, GBPUSD.
On April 22, 2022, from 10:15 to 11:00 MT time, the Markit will release German and French flash services and manufacturing PMI.
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.