Every week we have new fundamental data hitting the market.
Although I am fundamentally a technical Forex trader (pun not intended). It would be foolish for me to completely avoid fundamental analysis.
I am aware of the data and teach my students to prepare themselves also.
We've just entered a new month so now is a good a week as any to help you prepare yourself for the week.
A Typical Forex Week
Markets tend to take off slow and fundamental data usually is similar. You might not have too much activity to start the week. But by the end it comes hard and fast. This week is no different.
There is a host of low level data on Monday. The majority of significant data concerns PMI (Purchasing Managers' Index). Obviously the main countries you should take most significance (US, UK, JPY etc).
Not much to really talk about here but expect slow moving markets for the most part.
It may not be the most important but bank holiday in Japan is essential to know if you plan to take any trades on Yen pairs. You might want to consider whether you want to open a trade on a day, trading is limited.
More PMI today and some relatively important employment figures out of New Zealand. If you are trading the Kiwi etc bare that in mind.
Again a relatively slow day. The big highlight is probably ECB's Draghi speaking. The European markets like to move when he speak.
The middle of the trading week and things will start to pick up here.
Right out of the Asian session we have retail sales for Australia. This is bound to potentially move the markets concerned. Take this into consideration when you place your trades. Trade balance is present throughout the day on different major countries also along with more PMI.
We have heavy hitters speaking today (Draghi & Yellen) along with ADP Non-Farm employment change.
This is the first big fundamental day of the week and I expect the markets to be in full motion today.
After a hectic fundamental Wednesday you might expect follow through for Thursday but not so. Apart from some red hot UK data:
- BOE Inflation report
- Official Bank rate
- Monetary Policy summary
- Speech by Gov Carney
There really just is US unemployment claims.
Well, well, well. NFP (Non-Farm Payrolls). Nothing else today is really important. Traders around the world will be waiting for 13:30 pm GMT (08:30 EST) for the news to hit the market. Big money is lost and made during the NFP release. Trading here is not for the inexperienced.
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