The Week Ahead for Binary Options Traders 6 – 10 October 2014

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The Week Ahead for Binary Options Traders

Following a trading week that ended on a positive note with relative gains for the US dollar due to good Non-Farm Payroll results announced last week, while the Eurozone is hopeful that the new measures announced by Mario Draghi and the ECB will help it further. Things were not so bright for the Yen and the AUD, but market volatility did mean plenty of investing opportunities were at hand. The same is expected to happen in the coming week, with several events and data announcements expected to make the markets move and create opportunities for profit. Let us take a more detailed look on the next few days to come:

Monday, 06th October

On what is perhaps the most quiet day of the week, the only major event to check out, especially for investors interested in the Eurozone, is the release at 08:30 GMT of the Sentix Investor Confidence survey for month of September which will provide useful insights on the present and future direction of the EUR.

Tuesday, 07th October

Significantly busier, on Tuesday the action starts as early as 03:00 GMT when in Japan, the Bank of Japan will announce its interest rate decision, which will affect the yen and will also shed light on the Bank’s future intention regarding the Japanese economy as a whole. Soon after that, at 04:30 GMT the Bank of Australia will announce its own interest rate decision, affecting the AUD and its currency pairs. Finally, at 08:30 GMT all eyes, especially those interested in the GBP, will be in London for the announcement of the UK Manufacturing Production data for the month of August.

Wednesday, 08th October

Many investing opportunities are expected to arise on Wednesday, with announcements across the globe. There is a release of employment data in Australia, where the news is expected to be positive and reveal a further decline in the unemployment rate. Moreover, at 02:00 GMT eyes will turn on China, especially for CNY traders with data being announced about the country’s third quarter GDP rate. At 14:00 GMT the NIESR GDP Estimate for the UK will be out and merits some attention, while finally at 18:00 GMT hawkish picture is expected to emerge from the release of the US Fed’s FOMC Meeting Minutes.

Thursday, 09th October

Packed with market moving events, Thursday’s action starts at 11:00 GMT with the interest rate decision by the Bank of England and although it is not anticipated to change the rate, the decision is still interesting and will bear an impact on the GBP. At 12:30 GMT we will have the release of new data concerning the US Unemployment Claims and expectations are that these will rise to 291,000, possibly affecting the trading of the USD. The final event to look out for, is a speech at 15:00 by ECB President Mario Draghi is scheduled at the Brookings Institution, in Washington DC, where he is expected to talk about the ECB’s bond buying program and his goal to stimulate lending to European companies and consumers.

Friday, 10th October

The day’s most significant event to look out for is the release at 12.30 GMT of the Unemployment Rate for the month of September in Canada. This data is anticipated to have a significant impact on the CAD and consequently its currency pairs, especially because the relevant data for August was creating disappointing and had showed an unexpected rise in unemployment. This time round it is anticipated that the Canadian job market will shed a few more thousands of jobs.

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