US inflation data coming this week
Key points
- Headline inflation expected to rise 0.3% to 3.3%
- Core inflation rate projected to remain unchanged at 4.8%
- Lower-than-expected Nonfarm Payrolls and mixed employment data could mean USD volatility if inflation data misses expectations
Headline inflation rate
Inflation last month lowered to 3.0% - its lowest reading in over two years. A rise this month would be the first since June 2022.
Core inflation rate
Employment data
Nonfarm payrolls came in 13k lower than expected last Friday, contradicting more positive data from earlier in the week. This mixed response has caused uncertainty in US dollar - leaving traders eager for more definitive signals from the upcoming inflation release.
How to trade US dollar
- Open an account to get started, or practice on a demo account
- Choose your forex trading platform
- Open, monitor, and close positions on USD pairs
Trading forex requires an account with a forex provider like tastyfx. USD pairs can be found in tastyfx's platform under the 'USD Pairs' pairs tab. Many traders also watch major forex pairs like GBP/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.
You can help develop your forex trading strategies using resources like tastyfx’s Learn Center. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.
Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.
This information has been prepared by tastyfx, a trading name of tastyfx LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. tastyfx accepts no responsibility for any use that may be made of these comments and for any consequences that result. See our Summary Conflicts Policy, available on our website.
