Economic Calendar | What does Tuesday entail for the currency market?

Today is a very exciting day in the world of forex trading, as there are a number of indicators on the economic calendar that could influence global currencies. Stick with us, as we explore the most interesting changes! The economic calendar clearly shows that the pound sterling will see a bullish day or, in other words, a positive rise in its value. All indicators concerning their Producer Price Index seem to show a positive trend, as it is on the rise across the board, including output and input. Although the Consumer Price Index is apparently decreasing, we believe that the PPI’s positives outweigh this negative for the GBP. Moving on to the euro, the economic calendar survey indicator, published by the Center for European Economic Research, which measures the institutional investor sentiment, appears to be looking at a negative trend, which could lead to a bearish Tuesday for the euro. In Northern America, the USD could see a rise in value due to the Empire State Manufacturing Index’s positive trend, while the CAD could see a slight dip in value, as manufacturing shipments seem to be experiencing a negative trend today. Lastly, let us look at how will the Japanese yen do. With Manager on Managers machinery orders expected to experience a sharp rise of almost 20%, one might expect that this eastern currency will experience a bullish day, as a rise in machinery orders could help the currency.

Economic Calendar | How to profit from these events?

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Author: Max Rothstein

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