Financial and economic news and data are among the most crucial factors which often causes currency rates to move up or down. The United States Dollar (USD) is the most traded currency in the world, and it means that any factor influencing this currency would also impact rates of most other major currencies, such as the Great Britain Pound (GBP) or the Japanese Yen (JPY).
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If you are a professional trader and looking to make important decisions regarding FOREX trending, then you better be active during the upcoming week as various important economic news and expected.
The United States Treasury refunding policy is to be unveiled on the upcoming Wednesday, 2nd May. It will provide important information related to government’s approach towards funding the budget deficit. Experts believe that government is planning to accelerate bond auctions. More bonds mean a direct impact on interest rates and ultimately on the currency rates as well.
Also look for US FOMC statement and New Zealand Employment change data on Wednesday.
On Thursday, Core CPI for Euro is to be announced which will give a clear indication regarding Euro economy and how the currency is going to be affected, either positive or negatively, in the upcoming weeks.
One cannot expect to thrive in FOREX market without keeping a close eye on USD and its expected trends. So, be prepared to get monthly Jobs report, including employment rate and non-farm payroll that is due to be available on 4th May which will discuss employment rates and wages. It will provide a deep understanding related to employment trends in America and traders will be looking to link the data with USD to forecast trends.
Euro and GBP are also among most commonly traded major currencies and, at present, both currencies are directly affected by news related to a single most important topic, i.e., Brexit. As just a year is left in the completion of Brexit, important developments occur on a daily basis. Even though GBP seems to have recovered somehow, a lot of uncertainty still exists. Make sure to keep an eye on these everyday happening related to this important event as this news will impact both Euro and GBP currencies.