Most important fx news this week

New week in Forex has started. We have very important data scheduled almost each day this week. I expect these to cause very strong moves in various currency pairs. So, what is ahead of us?

Tuesday

Australia: Policy meeting minutes from September (coming at 01:30 GMT). I expect aussie to fall and I am getting ready to buy eur/aud and gbp/aud pairs as well as selling aud/chf.

Great Britain: Consumer Price Index (coming at 08:30 GMT). This could boost British Pound and cause it to rise, especially against commodity currencies. 

United States: Consumer Price Index (coming at 12:30 GMT). This could be a prelude to Fed meeting later this week. I bet the greenback will recover. 

Wednesday

United States: Federal Market Committee rate decision (coming at 18:00 GMT). Not only currencies, but also stocks with their indexes and commodities (and all the rest) will react to the statement. 

Bernanke’s meeting in Washington (coming at 18:30 GMT). This can probably be more important than decision itself as mister Bernanke will present his future outlook on economy. 

New Zealand: Gross Domestic Product (coming at 22:45 GMT). Isn’t it time for the kiwi dollar to fall back to its’ downtrend?

Thursday

Switzerland: Swiss National Bank rate decision (coming at 07:30 GMT). I expect Swiss Franc to rise.

Friday will not have any significant releases, so market participants will probably rely on the data that is released between now and Thursday evening, the biggest event being Wednesday evening (FED rate decision). 

Let’s wait for tomorrow and see what happens to British Pound. 

See also: http://forex-news-trading.blogspot.com/2013/08/ultimate-guide-to-successful-day-trading.html

Week of Central Banks

This week is probably the most important from the financial point of view in the month. I hope you know why. Three major banks are going to release their interest rate decisions. It starts with Federal Reserve tomorrow at 18:00 GMT and goes on to Thursday with Bank of England at 11:00 GMT, followed by European Central Bank at 11:45 GMT. Markets could start moving sharply even before the FED as Gross Domestic Product of US will be announced on Wednesday at 12:30 GMT. However, do not be too much involved in that. I would recommend closing your positions before FED announcement. It may reverse anything.

It could be the key event of the week as ECB will not have press conference meeting following its’ announcement this time (it usually has). And again, the next day the picture might change again when Bank of England and ECB will publish their decisions. So, have light positions or even close them tomorrow. It is very risky to head into these kinds of events fully loaded. I experienced it myself on a number of occasions and do not want to repeat the same mistakes again and again. It is good to learn to take advantage of these kinds of events, not to lose money on them. Hope that helped!

Fx news of high importance this week

Let us look at some of the most important Forex news that might influence financial markets this week.

Nothing serious on Monday. Usual stuff!

Tuesday:  

Bank of Japan rate decision

Wednesday:

Consumer Price Index (Australia) at: 00:30 GMT

Bank of Japan Monthly Economic Report at: 5:00 GMT

Bank of England Minutes at: 9:30 GMT

Jobless Claims (Great Britain) at: 9:30 GMT

Bank of Canada rate decision at: 15:00 GMT

Thursday:

National Consumer Price Index (Japan) at: 23:30 GMT

Friday:

Gross Domestic Product (Great Britain) at: 9:30 GMT

Consumer Price Index (Canada) at 13:30 GMT

These are the main events that can influence move in currencies this week. Be careful trading those as volatility increases sharply during news times.