A1 Trading Company

June 14, 2021

The Week Ahead: FOMC, GDP, Retail Sales & Unemployment

Bart Kurek

Let's look at the news event's we've got lining up this week...

(USD) Retail Sales

The USD Retail Sales Report is set to Tuesday which shows the total value of sales at a retail level. Consumer spending accounts for a majority of economic activity, and therefore when citizens spend, it is a sign that people have jobs, people are making money, and people are able to spend money for whatever it is they want.

Analysts expect to see a 0.6% decline in the USD Retail Sales compared to the previous month at 0.0%. The Core reading is set to rebound by 0.4% after the previous reading at -0.8%. This report will likely paint a mixed picture of consumer spending, so I suggest looking at the data once released before making any trading decisions.

(USD) FOMC Statement

No actual changes to the interest rates or bond purchases are expected in this FOMC statement. The updated estimates for growth and inflation are due, which could influence future policy action expectations. Price pressures have been more substantial, as indicated by the core PCE price index and CPI reading for May.

Any hints that policymakers are considering tapering asset purchases will have a strong impact on USD movements.

(NZD) GDP q/q

A Gross Domestic Product (GDP) report is a measure of the size and health of a country's economy over a period of time. The figure sums up the country's performance in terms of trade, consumer activity, government spending and investment during a particular period.

For the first quarter of 2021, the New Zealand economy is expected to have grown by 0.5, much greater than the 1.0% contraction in Q4 2020. A stronger than expected GDP reading could boost hopes that the RBNZ could unwind stimulus and hike interest rates sooner than later.

(AUD) Unemployment

The Employment Change report is a measure of the change in the number of employed people in Australia. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. The number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions.

Job creation is expected to recover by 30.5k in May after the previous month where we saw job losses of 30.6k. This should be enough to keep the unemployment rate steady at 5.5%. The end of the government's JobSeeker stimulus program, which ended earlier this year, may still weigh the labour market.

A1 Edgefinder

AI- Generated Trading Setups
AI-generated bullish/bearish bias setups on forex currencies, gold, & indices.

Discount code: 'READER'

Access Now

Free

Trading Plan Template
Struggling to build a successful trading plan? Download our template to get started today!
Download
Expecting A Pullback

Today's economic figures came out in US and Canada. GDP came in higher than expected in Canada while the price of goods purchased by consumers was lower than last month. Here are some pullback ideas for USD and CAD from GDP and PCE numbers. EdgeFinder Analysis NAS100 is a bullish reading on the EdgeFinder still. […]

Read More
Traders Wait For More Inflation Data

This week has brought more inflation data with it regarding the USD's PCE and PMI numbers. Powell is also set to speak this Friday about monetary policy going forward. The RBNZ will also release their latest interest rate news tomorrow with expectations of an unchanged rate at 5.5%. EdgeFinder Analysis GBPUSD is a bullish bias […]

Read More
Trading Into PMI Data on EUR, GBP and USD

This week is a big PMI week for Europe, UK and US. Additional inflationary metrics will add to the overall sentiment of these countries' monetary policies going forward. Here are some setups for the coming week on these currencies. EdgeFinder Analysis GBPCAD is now a +7 on the EdgeFinder as we wait for CPI news […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonecrossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram