Open trading account 
Preparing for the week ahead it gives you the opportunity to get in to the trading zone before you even start trading for the week. Although weekends are for clearing your heads and recharge your mental battery there is no harm to get your trading plan straight.
The only major events for the week ahead are mostly coming from Asia and Australia. First we have on Monday Japanese's GDP which is forecasted to be downgraded to +1.6% from +1.9% but after latest NFP better than expected figures, in the short term Yen pairs can move sharply in either direction. At the same time we have China CPI Index which is expected to lose upside momentum at 3.2%.
Wednesday we have the Reserve Bank of New Zealand announcing his interest rate decision where market expectation is that the interest rates will remain on hold although recently we had some hints that interest rates increases “will likely be required next year” as the economy strengthens and inflation picks up. If you're trading the NZD pair you should keep an eye on this even if you're just an technical analyst trader as volatility is likely to pick up during the release.
Thursday we have 2 major economic data, first we have the Australia employment data which is expected to drop to 1000 from 1100 last reading. The sentiment surrounding Australian dollar has remained very negative after RBA has decided to kept the door open for another round of interest rate cut if the economy is not showing signs of recovery, and with interest rates on hold at historic low of 2.5% the pressure is very high on aussie. The last major economic event for the week is for sure the US Retail sales which are expected to come in high at 0.6% from a low of 0.4%, but after Friday's NFP better than expected number it will be no surprise if the retail sales come much more better.
For sure there are others economic events but I only pay attention to the major news data with high impact on the market. I wish everyone a successful trading week and many pips as well.
Best Regards,
Daytrader21.
The only major events for the week ahead are mostly coming from Asia and Australia. First we have on Monday Japanese's GDP which is forecasted to be downgraded to +1.6% from +1.9% but after latest NFP better than expected figures, in the short term Yen pairs can move sharply in either direction. At the same time we have China CPI Index which is expected to lose upside momentum at 3.2%.
Wednesday we have the Reserve Bank of New Zealand announcing his interest rate decision where market expectation is that the interest rates will remain on hold although recently we had some hints that interest rates increases “will likely be required next year” as the economy strengthens and inflation picks up. If you're trading the NZD pair you should keep an eye on this even if you're just an technical analyst trader as volatility is likely to pick up during the release.
Thursday we have 2 major economic data, first we have the Australia employment data which is expected to drop to 1000 from 1100 last reading. The sentiment surrounding Australian dollar has remained very negative after RBA has decided to kept the door open for another round of interest rate cut if the economy is not showing signs of recovery, and with interest rates on hold at historic low of 2.5% the pressure is very high on aussie. The last major economic event for the week is for sure the US Retail sales which are expected to come in high at 0.6% from a low of 0.4%, but after Friday's NFP better than expected number it will be no surprise if the retail sales come much more better.
For sure there are others economic events but I only pay attention to the major news data with high impact on the market. I wish everyone a successful trading week and many pips as well.
Best Regards,
Daytrader21.
