WEEKLY FOREX FORECAST; US CPI; ECB Interest Rate Decision

This video covers such economic releases as the US CPI readings, due on Tuesday, March 14. Since it is the last top-tier economic release before the Fed’s meeting, which is scheduled for March 22. We have to keep an eye on the results, as If the US CPI figures are hotter-than-expected, then investors could see a higher basis point hike from the Fed, whereas if the reports show a decline, then might be a lower basis point hike.
In the meantime, on Tuesday, investors need to watch out for the UK wage growth and unemployment figures, the results might have a significant impact on the GBP. Especially, if the figures of these releases are as the forecast, which will be a signal that the UK labor market is in a way of softening. Consequently, that may be raising bets of the BoE lower interest rate hikes, weakening the Pound. While the higher readings, would likely strengthen the BoE interest rate hike bets and give momentum to the Pound.
With inflation in the spotlight, the ECB will deliver its March monetary policy decision on Thursday, March 16.
As Christine Lagarde mentioned last week, that “very, very likely” that the ECB will raise interest rates by another half a percentage point at its meeting in Frankfurt and investors will find out more clues about the ECB’s future moves.