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Weekly Forex Review - 29th of May to the 2nd of June

2nd forex. Tutorials On Price Action Forex Trading Strategies. Why Trading Against the Trend Will Destroy Your Account. author thumb By Nial Fuller in Forex Trading Strategies on June 2nd, | 25 Comments · Read More · Let The Market Take You Out Of Your Trade. author thumb By Nial Fuller in Forex Trading Strategies on.

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The main economic event today in the forex market is the Bank of England interest rate decision. There is economic data on the German economy and its unemployment rate, the balance trade of Australia, the consumer confidence in Japan and weekly reports on the US labor market. Higher than expected or rising figures will be positive for the economies of Switzerland, Spain and Italy, reflecting higher consumer spending and future economic growth and expansion for the manufacturing sector.

The largest economy of Eurozone Germany is expected to show a manufacturing expansion marginally lower than the previous reading, as the forecast for the Manufacturing PMI is a reading of Stable or better declining unemployment rate is positive for the economy of Germany and the Euro, reflecting a strong economy. The manufacturing section in the Eurozone is expected to expand further with a reading of The construction activity in the UK is expected to remain stable, but the key focus will be on the interest rate decision by the Bank of England and the inflation report.

An interest rate increase of 25 basis points is expected, a change from 0. High volatility is expected for the British Pound and significant fluctuation against other currencies. Several important economic data on the economy of US. Nonfarm productivity on a quarterly basis is expected to increase to 2.

Increased productivity is positive for the US Dollar, signaling a strong economy. Any official speech from central banks members is important for comments and insights on economic and monetary policy, economic conditions and inflation.

The weekly report will show if there any surprise in the actual versus expected figures, for inventories of natural gas. If there is a decline in inventories which is more than the expected reading, then this is positive for the natural gas prices as it implies strong demand for the natural gas.

Higher than expected or rising figures are positive for the Australian Dollar, signaling a strong economy, expansion for the services sector, a strong housing market and increased demand for Australian Dollars, which should lead to the appreciation of the Australian Dollar, if not in the short-term, in the long-term. The consumer confidence index is expected to decline, having a reading of Increased consumer confidence is in general positive for the local currency, reflecting increased optimism, and mainly higher consumer spending, a vital part for higher economic growth measured by GDP.

This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future. The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. There are no comments yet No comments.

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