Today's session in the financial markets promises to be extremely exciting, due to several key macroeconomic publications that could significantly impact volatility. At 14:30 (Warsaw time), investors will be monitoring the release of inflation indicators from the USA: CPI y/y, Core CPI m/m, and CPI m/m. These forecasts are particularly important in light of recent economic events, as they may provide insights into the direction of future Fed monetary policy. At the same time, Canada will publish data on employment changes and the unemployment rate, which will also attract market attention, especially after the recent disappointing results.
This week, concerns about the condition of the services sector in the USA dominated the markets, as evidenced by the ISM Services PMI results, which were lower than expected. Despite a slight improvement in market sentiment, which rose from 18 to 36 points, uncertainty regarding the future of the global economy persists. Data from the RBNZ, which did not bring any changes to interest rate policy, along with GDP results from the USA, indicate some stabilization but do not dispel all investor doubts. Today's CPI data could therefore significantly influence expectations regarding the Fed's future actions.
Traders should pay particular attention to 14:30 (Warsaw time), when data from the USA will be released. A result higher than expected could strengthen speculation about a tightening of the Fed's monetary policy, which could lead to a strengthening of the dollar. Conversely, better-than-expected data from Canada could support the Canadian dollar, slightly alleviating concerns about the state of the economy. It is important to be prepared for potential sudden market movements and volatility, especially in the context of the current, still uncertain market sentiment.
