This week we have a few important economic announcements that might make the market volatile. The US inflation rate is expected to go up in August. This is an important indicator to monitor as it will show whether inflation is coming back.
This week, we have a few important announcements from the US and Europe as follows.
- 13 Sep (Wed) – US Inflation Rate and CPI
- 14 Sep (Thu) – ECB Interest Rate Decision, US PPI and Retail Sales
The US Inflation Rate MoM is expected to go up to 0.6% compared with 0.2% last month. Crude oil has reached $87 per barrel. There is a chance that inflation might rebound more than 0.6% and the market might think a higher interest rate will be needed to control inflation. If that happens, then the USD might turn strong.
The consensus for the ECB Interest rate decision is to keep the existing interest rate at 4.25%. Any surprise on the decision will make EURUSD volatile.
Next week, there will be the FOMC Interest Rate meeting and we will send another market update in the coming weekend.
Recommendation
With this outlook, to be on the safe side, we strongly recommend all Ophiuchus and Limitless EA users to schedule to stop trading for this period starting from 12 Sep till 15 Sep. You can use the stop trading period feature in the EA to do that. You can also decide to start the stop trading for a longer period to wait for the dust to settle. (e.g., stop trading from 12 Sep and only start trading after the weekend) if you would like.
Disclaimer – Please note that Limitless Trading is not liable for our recommendation and is not responsible for any loss or profit caused by this recommendation. You should assess your personal circumstances and perform your own research to make decisions for your trading.