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High Impact Economic News for the week of October 18th
Hello Traders. Hope all is well with you and your trades. The staff at Forex Club would like to wish you a great trading week. To help you nail each of your trades, we’d like to give you this breakdown of the economic events occurring during the week of October 18th, 2009.
Forex Club is currently holding its FXDrive Demo Contest, so all traders are welcome to sign up for free and compete for a chance to win cash prizes or a brand new Infiniti FX35. To register, just visit http://www.fxclub.com/fxdrive-democontest/.
This week’s high impact economic events will start on Monday, October 19th at 16:00 (GMT) when Federal Reserve Chairman Ben Bernanke speaks about Asia and the global financial crisis. His speech may hold hints to the future monetary policy of the USD. Additionally, volatility is often experienced during his speeches.
Tuesday, October 20th will see a lot of movement between the USD and the CAD. The day’s high impact events will start at 1:30 (GMT) when the Reserve Bank of Australia releases its Monetary Policy Meetings Minutes. Traders should read this report for any changes that may further influence AUD movement. The next event will be held at 13:30 (GMT) when the Census Bureau releases its Building Permits. The forecast for this event is 0.59M. If the actual amount is greater than the forecasted amount, expect the USD to strengthen. We also have the Department of Labor’s PPI being released at this time. The forecast for this event is 0.1%. If the actual amount is greater than the forecasted amount, expect the USD to strengthen. At 14:00 (GMT), the Bank of Canada will release its Rate Statement and Overnight Rate. If there’s a change in either rate, the CAD should move. In the case of the Overnight Rate, the forecast is 0.25%. If the actual amount is greater than the forecasted amount, expect the CAD to strengthen. At 20:15 (GMT), the Bank of England’s Mervyn King will speak about the economy. His speech may contain clues about the future monetary policy.
We only have one high impact news event occurring on Wednesday, October 21st. The Bank of England will hold its Meeting Minutes. If the votes are hawkish in regards to the GBP’s growth, expect the GBP to strengthen.
On Thursday, October 22nd, National Statistics will release its Retail Sales at 9:30 (GMT). The forecast for this event is 0.6%. If the actual amount is greater than the forecasted amount, expect the GBP to strengthen. At 13:30 (GMT), Statistics Canada will release its Core Retail Sales. The forecast for this event is 0.5%. If the actual amount is greater than the forecasted amount, expect the CAD to strengthen. At the same time, the Department of Labor will release its weekly Unemployment Claims. The forecast for this event is 516K. If the actual amount is less than the forecasted amount, expect the USD to strengthen. At 15:30 (GMT), the Bank of Canada will release its Monetary Policy Report. Traders should read this report for clues to the future monetary policy of the CAD. At 16:15 (GMT), the Bank of Canada will hold a Press Conference. Traders should also pay attention to this event, as clues to future monetary policy may also be revealed here.
On Friday, October 23rd, the Ifo Institute will release its Business Climate at 9:00 (GMT). The forecast for this event is 92.1. If the actual amount is greater than the forecasted amount, expect the EUR to strengthen. At 9:30 (GMT), National Statistics will release its Prelim GDP. The forecast for this event is 0.1%. If the actual amount is greater than the forecasted amount, expect the GBP to strengthen. Federal Reserve Chairman Ben Bernanke will speak again on Friday at 13:30 (GMT). His speech may have clues regarding future monetary policy. Volatility is also often experienced during his speeches.
We hope you research each of the events listed above and use them to your advantage. As always, Forex Club would like to wish you a healthy week filled with successful trades.
Forex Club is currently holding its FXDrive Demo Contest, so all traders are welcome to sign up for free and compete for a chance to win cash prizes or a brand new Infiniti FX35. To register, just visit http://www.fxclub.com/fxdrive-democontest/.
This week’s high impact economic events will start on Monday, October 19th at 16:00 (GMT) when Federal Reserve Chairman Ben Bernanke speaks about Asia and the global financial crisis. His speech may hold hints to the future monetary policy of the USD. Additionally, volatility is often experienced during his speeches.
Tuesday, October 20th will see a lot of movement between the USD and the CAD. The day’s high impact events will start at 1:30 (GMT) when the Reserve Bank of Australia releases its Monetary Policy Meetings Minutes. Traders should read this report for any changes that may further influence AUD movement. The next event will be held at 13:30 (GMT) when the Census Bureau releases its Building Permits. The forecast for this event is 0.59M. If the actual amount is greater than the forecasted amount, expect the USD to strengthen. We also have the Department of Labor’s PPI being released at this time. The forecast for this event is 0.1%. If the actual amount is greater than the forecasted amount, expect the USD to strengthen. At 14:00 (GMT), the Bank of Canada will release its Rate Statement and Overnight Rate. If there’s a change in either rate, the CAD should move. In the case of the Overnight Rate, the forecast is 0.25%. If the actual amount is greater than the forecasted amount, expect the CAD to strengthen. At 20:15 (GMT), the Bank of England’s Mervyn King will speak about the economy. His speech may contain clues about the future monetary policy.
We only have one high impact news event occurring on Wednesday, October 21st. The Bank of England will hold its Meeting Minutes. If the votes are hawkish in regards to the GBP’s growth, expect the GBP to strengthen.
On Thursday, October 22nd, National Statistics will release its Retail Sales at 9:30 (GMT). The forecast for this event is 0.6%. If the actual amount is greater than the forecasted amount, expect the GBP to strengthen. At 13:30 (GMT), Statistics Canada will release its Core Retail Sales. The forecast for this event is 0.5%. If the actual amount is greater than the forecasted amount, expect the CAD to strengthen. At the same time, the Department of Labor will release its weekly Unemployment Claims. The forecast for this event is 516K. If the actual amount is less than the forecasted amount, expect the USD to strengthen. At 15:30 (GMT), the Bank of Canada will release its Monetary Policy Report. Traders should read this report for clues to the future monetary policy of the CAD. At 16:15 (GMT), the Bank of Canada will hold a Press Conference. Traders should also pay attention to this event, as clues to future monetary policy may also be revealed here.
On Friday, October 23rd, the Ifo Institute will release its Business Climate at 9:00 (GMT). The forecast for this event is 92.1. If the actual amount is greater than the forecasted amount, expect the EUR to strengthen. At 9:30 (GMT), National Statistics will release its Prelim GDP. The forecast for this event is 0.1%. If the actual amount is greater than the forecasted amount, expect the GBP to strengthen. Federal Reserve Chairman Ben Bernanke will speak again on Friday at 13:30 (GMT). His speech may have clues regarding future monetary policy. Volatility is also often experienced during his speeches.
We hope you research each of the events listed above and use them to your advantage. As always, Forex Club would like to wish you a healthy week filled with successful trades.
19 October | 
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