Market Brief 18 August: CPI from Canada on focus


Last trading day of the week is here, Traders! Let’s make the best of it. The news events to be watching out for are:

Europe

EUR 07:00 a.m. GMT + 1, German PPI (MoM) (Jul)- the Producer Price Index measures the change in the price of goods and services that are being sold by manufacturers. Expectations are for an increase in July at 0.1% versus 0.0% for the last period. If the actual result is reported to be better than projections, this should be seen as a bullish sign for the euro. If the result, however, is significantly lower, this should impact the currency in a negative manner.

Canada

CAD 13:30 p.m. GMT + 1, Core CPI (MoM) (Jul) – the measurement has strictly do to with inflation of goods and services, excluding food and energy and these changes in price are measured from the perspective of how they affect the consumer. Expectations are for no changes and forecast at 0.1%, same as last time. Provided we have a better than expected number, this should increase the value of the CAD dollar. If those results are lower than projections, that the Canadian dollar should drop in value as well.

United States

USD 15:00 p.m. GMT +1, Michigan Consumer Expectations (Aug) P – analyst expectations are for an increase at 81.0 for the month of August versus 80.5 for the previous period. If the reading comes out better than expected, this should be read as a bullish sign for the U.S. dollar and if the result is strikingly lower, this should drive down the value of the dollar.

 

Wishing you Happy and Successful Trading!

 

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