The week ahead looks from the outset as busy and promising, holding many moments of expected high market volatility especially associated with the announcement of economic indicators of significant importance across the globe. As these moments are highly likely to also give rise to various opportunities for binary options traders, let us have a closer look at the events that will shape the trading week to come. Please note are all times cited are GMT.
Monday, 4th November 2013
Monday is a holiday in Japan, India and Singapore with markets remaining closed, but it is rather busy elsewhere. The day sets of at 00:30 with the announcement in Australia of the House Price Index and Retail Sales data, which are both expected to impact the performance of the AUD.
In Europe we will have the announcement of several Manufacturing PMI data, in Spain at 08:13, Italy at 08:43, France at 08:48 and Germany at 08:53. Markit Economics will also announce their Manufacturing PMI for the whole of Europe at 08:58. All of these announcements will bear an impact on the trading of the EUR for today. In the UK we will have the Chartered Institute of Purchasing and Supply announcing the Construction PMI at 09:30, so look out for any effects on the GBP
Finally, in the USA, we will have at 21:00 a speech by Federal Reserve Bank of Boston President and Federal Open Market Committee (FOMC) voting member Eric S. Rosengren, whose comments might affect the USD.
Tuesday, 5th November 2013
Tuesday sets off at 03:30 with the announcement of the decision on interest rates and the associated statement by the RBA, which will impact the AUD.
The JPY will also have an interesting day as Bank of Japan (BOJ) Governor Haruhiko Kuroda is to speak at 05:30 and 07:45, while later on, at 23:50, the Monetary Policy Meeting minutes will be publicised.
In Europe we will have Spanish unemployment data being announced at 08:00, CPI figures being made public in Switzerland at 08:15 and the Services PMI data announcement in the UK at 09:28. Therefore, we can expect effects on the EUR, the CHF and the GBP.
The only interesting announcement in the USA for today, that might impact the USD, is the announcement of the ISM Non-Manufacturing Index at 15:00.
Wednesday, 6th November 2013
Wednesday is relatively quieter, since most news for today will come from the UK and therefore the most affected currency will be the GBP. At 09:30 we will see the announcement of YoY and MoM data on Industrial Production and Manufacturing Production, while at 15:00 the National Institute of Economic and Social Research (NIESR) will announce its GDP estimate for the trimester.
Another currency with developments today is the EUR, since we will have the announcement of Retail Sales Data for Europe by Eurostat at 10:00 followed by the announcement of German Factory Orders data at 11:00.
Thursday, 7th November 2013
High market volatility is expected today, since Thursday filled with announcements of key economic indicators. This truly busy day will start in Australia at 00:30 with the announcement of employment and unemployment data, which are expected to impact the faring of the AUD.
Over in Europe, the yield of the Spanish ODE bonds will be announced at 09:50, followed by German Industrial Production figures coming out at 11:00. At 12:45, the European Central Bank will announce its interest rate decision and will give a press conference on 13:30, while ECB President Mario Draghi will speak at 19.00. This decision and Draghi’s comments will affect the EUR. At 12:00 we will also have an interest rate decision by the Bank of England, which will impact the GBP.
High volatility is expected for the USD today as well, since at 13:30 we will have the release of fresh data on the Continuing and Initial Jobless Claims, as well as GDP figures and GDP Price Index data.
Friday 8th November 2013
The week concludes in an equally busy manner, setting off in Australia at 00:30 with the RBA Monetary Policy Statement, which will affect the AUD. Over in China, the CNY will be affected by the announcement at 02:00 of Chinese Exports and Chinese Trade Balance figures.
In Europe, the only noteworthy announcement is that of the UK Trade Balance at 09:30, which will affect the GBP.
Over the other side of the Atlantic however, we will have a series of economic indicators being announced in Canada at 13:30 in the form of housing and unemployment data, which will impact the CAD. In the USA, at the same time, we will also have many indicators being announced, with the most important being the Nonfarm Payrolls, as well as the Unemployment Rate. The day will conclude with a speech by the Fed Chairman at 20:30, which will attract attention in order to look for hints for future monetary policy changes that will also affect the USD.