A trading week with increased volatility is ending, with 3 monetary decisions, and today there are important economic news related to the Canadian, British and Japanese economy, which can offer significant currency pairs fluctuations. A week with a very rich economic calendar has the following important economic events to focus on today for potential trends and fluctuations:
Japan Eco Watchers Survey Current and Outlook (August)
Time: 05:00 GMT
These monthly economic readings measure several regional economic trends, and rising figures are in general positive for the Japanese economy and the Yen.
Switzerland Unemployment Rate (August)
Time: 05:45 GMT
In general lower unemployment rate is always good for the economy, as it indicates economic spending and growth, which lead to an appreciating currency. The forecast is for an unchanged reading of 3.0%, which is considered neutral for any significant price action.
UK Industrial Production and Manufacturing Production (July)
Time: 08:30 GMT
Both of these monthly economic reading provide important insights on the level of Industrial and Manufacturing Production, with higher than expected or rising figures being positive for the UK economy and the Pound, signaling expansion and growth. Any positive surprises in the form of higher than expected readings can cause the appreciation of the Pound against other currencies, while negative surprises can put selling pressure on the Pound.
Canadian Unemployment Rate (August)
Time: 12:30 GMT
The Canadian Dollar has been very strong lately, especially after the recent interest rate hike of 25 basis points from 0.75% to 1.00% of its key interest rate, so any positive surprise with a lower than expected or falling Unemployment Rate should be supportive and probably cause further of its appreciation against other currency pairs. The forecast is for an unchanged figure of 6.3%, but at the same time for an increased Net Change in Employment figure of 15.0k, higher than the previous figure of 10.9k.
The commodities prices are also on focus, with gold prices and oil prices presenting volatility, both for geopolitical tensions and as a result of natural disasters such as the hurricanes Harvey and Irma, which have affected normal supply levels of output.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.