IN FOCUS: Inflation data on the USA!
Dear traders,
Today, at 15:30 (Kiev), the US Department of Commerce will publish a report on the size of inflation in October. Market analysts expect consumer prices to grow by 0.1%, and core inflation, according to the forecast, will increase by 0.2%.
In comparison with the same period last year, inflation was expected to accelerate to 1.7%. The Fed sees core inflation as a more accurate indicator of long-term inflationary pressures, as it does not take into account food and energy prices. The central bank, as a rule, seeks to keep core inflation at 2% or lower.
Increase in inflation will be an incentive for raising the interest rate of the Fed.
At the same time, on Wednesday – the US Department of Commerce will publish a report on the volume of retail sales in the US for October. According to the consensus forecast for the previous month, retail sales will grow by 0.1%. It is assumed that the base index of retail sales in the US will increase by 0.2%.
The increase in retail sales indicates economic growth, and a decrease – economic decline. Consumer spending accounts 70% of US economic growth.
In addition to reports on inflation and the volume of retail sales in the US, there will be release of data on the producer price index (PPI), the number of construction permits issued, the number of initial applications for unemployment benefits, the volume of industrial production, as well as the results of surveys on industrial activity in Philadelphia and in the state of New York.
The last meeting of the Fed this year will be held on December 12-13. Traders consider the probability of an interest rate increase as a result of a FOMC meeting in December at 100%, according to a forecast from Investing.com.
On the political front, investors will be attracted by the development of the situation regarding the fate of the tax reform proposed by the Trump’s administration.
As you can see, the news block on the States is impressive!
Follow the news, use all the opportunities to earn!
Good luck!
We remind you that you can always get acquainted with upcoming news in the Economic Calendar, as well as in the daily market review on our official YouTube channel.
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