With an abnormal number of news events coming from the Europe, United States and New Zealand today, forex traders have been in 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; the wise trader knows this. Special attention should be paid to the ADP Non-Farm Employment Change report at 13:15 GMT, the Crude Oil Inventories at 15:30 GMT. Will you take advantage of the impending volatility, or sit on the sidelines and miss out?
Here are a few of today’s leading events:
13:15 U.S. None-Farm Employment Change
This is monthly report that measures the change in the number of employed people during the previous month, excluding the US farming industry and government. This indicator typically creates a volatile trading environment, affecting not only the USD crosses but also the value of crude oil and gold. Disappointing results could send the EUR/USD pair above the 1.4000 resistance level.
14:30 GMT: US Crude Oil Inventories
Crude oil’s rising price has been a headline feature of the market in recent weeks. This release may reign over the market as the price of oil has gained relevance to today’s trading.
A growing level of inventories may signal a lack of demand and push prices lower, while a negative release may highlight a lack in supplies, increased industrial usage, and an overall demand for more oil, which may help oil prices climb back towards $92 a barrel in the short-term.
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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.
