Home Analysis Watch out for the top 7 economic events due next week

Watch out for the top 7 economic events due next week

49
0
Watch out for the top 7 economic events due next week - forexspacex.com

Trading economic events should be a part of a trader’s strategy as trading a planned event yield a better return on investment. In this article we are listing down the top 7 economic events due next week, one must consider before taking a new position in the next week.

OrderDateEconomic EventImpact on Currency Pair
1MONDAY, NOVEMBER 7Eurogroup Meeting The Eurogroup brings together ministers from the eurozone area to discuss the first policies and impacts on the shared common currency. Analysis of the macroeconomic situation and introduction to structural reforms and financial stability also remains on the agenda. The most important part is the press briefing of the President of the European Central Bank after the Eurogroup meeting.EUR/USD, EUR/GBP
2MONDAY, NOVEMBER 7China imports/export data for October month   The National Bureau Statistics of China Will be reporting the Trade data for October month on Monday. This data will include all the imports and exports of goods and services from the world’s second-largest economy along with the details of quantity. Later that day, the General Administration of Customs of the People’s Republic of China will be delivering their forecast for the next month which will influence the domestic currencyUSD/CNY
3TUESDAY, NOVEMBER 8Fourth Quarter Inflation Expectations for New Zealand   The Reserve Bank of New Zealand will be releasing their inflation forecast for the fourth quarter. These forecasts will try to predict the rate at which consumers, businesses and investors expect the domestic prices to behave in the near future. A higher reading is bullish for the NZD and a lower reading is bearish.NZD/USD
4TUESDAY, NOVEMBER 8Eurozone Retail Sales Eurostat will be reporting the monthly measure of the value of goods sold by retailers in eurozone based on a sampling of retail stores of different types and sizes. This data also measures the changes in the volume and value of sales of goods by the retail businesses in the Eurozone. A higher reading than the previous one is bullish for the Euro and a lower reading is bearish.EUR/USD, EUR/JPY, EUR/CHF
5WEDNESDAY, NOVEMBER 9Consumer Price Index for China The National Bureau of Statistics of China will be reporting the monthly and annual consumer price index for the region.  This data tracks the change in prices of goods and services paid by the households for general consumption. This is a major economic indicator. A higher reading than the previous one is bullish for the CNY and a lower reading is bearish.USD/CNY
6THURSDAY, NOVEMBER 10Consumer Price Index excluding Food & Energy for USA   The US Bureau of Labor Statistics will be reporting the annual and October month of Consumer Price Index excluding Food & Energy for USA. The Consumer Price Index (CPI) in simple terms, is a measure of the change over time in the prices paid by urban consumers for a basket of consumer goods and services. Indexes are available for the U.S. geographic areas. A higher reading than the previous one is bullish for the USD and a lower reading is bearish.  USD/CAD, USD/JPY, EUR/USD    
7THURSDAY, NOVEMBER 10Bank of Canada Governor Speech Tiff Macklem, who is responsible for setting the monetary and regulatory policies of Bank of Canada, will be speaking on Thursday. The market participants determine the foreign exchange currency stability through these speeches.USD/CAD


Disclaimer

Forex trading can be extremely risky and should only be done in the presence of an expert. We do not recommend any currency pairs or options to buy or sell to our readers. Forecasts or articles available on this website do not constitute investment advice and are only for general information. Kindly consult with a professional financial advisor before using the information on this website for trading or investing.

Previous articleUSD/CAD edged lower in European session
Next articleBritish pound is trading marginally lower on Tuesday

LEAVE A REPLY

Please enter your comment!
Please enter your name here