A new trading week for the forex market starts today with a very light economic calendar, and only economic news important for the Japanese and the Canadian economy. As mentioned before the lack of critical economic news often means that the trading session will be rather quiet and volatility is expected to be low in most of the currency pairs.
These are the 2 most important economic events for today to focus on:
Japan Machine Tool Orders (August)
Time: 06:00 GMT
The monthly change of Machine Tool Orders is important for the Japanese economy, as it measures the confidence and business optimism for the economy by the manufacturers. As Japan is a country with a strong focus on manufacturing economic and business activity, higher readings or increasing readings of the monthly Machine Tool Orders can be interpreted a positive for the economy and the Yen.
Canada Housing Starts (August)
Time: 12:15 GMT
The monthly measurement of the housing market is important as an economic indicator for the broader economy, as higher number of Housing Starts signals a booming economy, with increased optimism by the consumers for future economic growth. A higher number of Housing Starts reflects a strong housing market, with multiple sectors and business categories to benefit in the future from this increased economic activity and is positive for the Canadian Dollar.Economic Calendar
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
GENERAL RISK WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.