The forex online trading week ahead promises to be a massive one for the entire globe economy, something that will not come as a shock given last weeks’ volatility in the currency market.
The forex online trading week ahead promises to be a massive one for the entire globe economy, something that will not come as a shock given last weeks’ volatility in the currency market. Important economic data from the United States and Europe and potential action from the world’s most important central banks will all be released in this greatly expected week.Starting Tuesday, several important economic reports will see the light of day in the financial world: Personal income, consumer sentiment, Chicago PMI and the Case-Schiller home price report, the latter rising particular interest given the growing belief that home prices are in the process of bottoming.Stateside, Tuesday’s CB Consumer Confidence followed by Wednesday’s ADP NON-Farm Employment Change and Thursday’s Unemployment Claims Figure are the main events forex online trading brokers will want to pay close attention to. Friday’s all-important U.S Non-Farm Payrolls figure will also prove relevant for the currency market, as more dollar loses can continue if they signal a further slowdown in the U.S economy. The indicator is widely considered the most important economic report on the forex online trading calendar and traders should anticipate major fluctuations as a result.On Wednesday, construction spending and auto and truck sales numbers will come in hand with the most important event of the day: the Fed’s next policy announcement.During last month’s meeting, the Fed revealed plans to extend “Operation Twist”, but while analysts don’t expect further quantitative easing or other economic stimulus from the Fed this week, investors will be tuned in for any hints of further measures. Once the Fed wraps up, The European Central Bank (ECB) will take center stage as the central bank’s Governing Council meets in Frankfurt on Thursday. Investors will keep a close eye on ECB’s president Mario Draghi to see if he will announce any concrete steps to help relieve pressure in the Eurozone.This following last week’s conference in which Mr Draghi called for a more aggressive and unconventional intervention in European financial markets, stating that “the ECB is ready to do whatever it takes to preserve the euro”. Finally, Friday will see the Big Kahuna of U.S Economic Data: The Jobs Report. As stated earlier, this is the most expected piece of info during this week’s forex online trading activity. Experts are anticipating somewhere around the 100K new jobs mark, though that would actually be higher than previous month’s 80K.