With an unusually large number of news events coming from the euro-zone and United States today, forex traders have been in a frenzy to place their bets before the trading day gets underway. Trading during these news events, which typically carry a lot of market volatility, is a fast way to double your forex trading balance. Special attention should be paid to the German Economic Sentiment report at 10:00 GMT, the U.S Retail Sales at 13:30 GMT, and Federal Funds Rate at 19:15 GMT. Will you take advantage of the impending volatility, or sit on the sidelines and miss out?
10:00 GMT- German Economic Sentiment
• It reflects the level of diffusion index based on surveyed German institutional investors and analysts.
• This indicator always leads to extreme market volatility in the major currency pairs.
• If the result turns out to be lower than forecasted, the EUR may record a fairly bearish session in today’s trading.
13:30GMT- US Retail Sales
• It reflects the change in the total value of sales at the retail level.
• The release of the survey typically creates a volatile trading environment, affecting not only the USD pairs but also the value of Crude Oil and Gold.
• A disappointing result could send the EUR/USD above the 1.3500 resistance level
19:15 GMT- U.S Federal Funds Rate
• Forecast shows that the number is expected to stay at 0.25%.
• Heavy volatility is likely to take place at that time
• The impact of the Interest Rate decision may in fact strengthen the USD in the long run.
• Traders should focus their attention on this release, as it is expected to be the highlight of the week for US markets.
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Anton Eljwizat is a Currency Analyst with ForexYard. His experience in writing technical analyses for trading companies such as ForexYard has helped Anton stand out among other analysts. His understanding of technical indicators and chart analysis helps him provide some of the most groundbreaking analysis in the market today. His writings have been published on the ForexYard Trading Blog and affiliate websites. Anton holds a degree in Business Management from Ryerson University as well as a degree in Finance from Centennial College in Canada.
