Forex online trading news are constantly changing, just as economic and political events from across the world rapidly unfold and affect the outcome of every day transactions.
Forex online trading news are constantly changing, just as economic and political events from across the world rapidly unfold and affect the outcome of every day transactions. After a data-ridden week full of economic releases and relevant speeches, the first week of August offers a more relaxing forex landscape, with little influential information out of Europe and the United States. Still, major key players in forex online trading such as Australia and China have important economic figures out this week. On Tuesday, the Reserve Bank of Australia is expected to keep its key interest rate at the current 3,50 percent mark for the second consecutive month, after having to cut it to from 3,75 percent in June. Odds for a rate cut are very slim, and no one is really expecting it. The key pairs to watch, according to experts, are AUD/JPY and AUD/USD.Later this week, on Thursday, Aussie employment change and unemployment rate July figures will be released, which forecasters don’t think will vary from what we have been seeing in the last months. According to a Bloomberg news survey, the Australian economy added 10K jobs in July, which represents a modest improvement from the 4,6K jobs it added in the last three months. Going north to China, Thursday will also have the Consumer Price Index (CPI) for July announced. Arguably the most important event regarding the Chinese economy this week, consumer price pressures retreated to a rate of +1.7 percent year-over-year in July, down from +2.2 percent in June, representing the softest CPI reading since January 2010. Forex online trading experts agree that while this reading might increase the chances of new stimulus to the economy, it also means that growth is slowing further. Travelling west, in a surprising turn of events financial markets ended last week on a high note on both sides of the Atlantic, after better US jobs news and extended hopes in the European Union sent shares, bonds and commodity prices up. The forex online trading EUR/USD pair was capped under the 1.2330 line, before surging to 1.24 and going down to support at 1.21144. The huge comeback sent it back towards 1.24 before it closed at 1.2384. Greece is also having crucial weeks ahead, if the country wants to avoid defaulting on its debt and being sacked from the eurozone. Presenting a 10-point plan on Thursday that will include further spending cuts and punctual reforms, the Greek development minister Costis Hadzidakis said he did not care about the political cost of the changes. “What is important is the salvation of the country, and with these reforms we want to send a message to all that Greece is determined to reverse the climate, change course and win the bet”, said Hadzidakis.