The previous week brought about many developments which had a direct effect on currency pairs as well as other asset types and markets worldwide. From the European Central Bank decision to cut interest rates, to the announcement of better than expected figures of primary economic indicators in the USA, proving that the economy there is on the way to recovery, to the decision by S & P to lower the credit rating of France, it was a busy week throughout. The week ahead also appears to be holding many moments of expected high market volatility. 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, 11th November 2013
The week starts off rather quietly with Home Loans data being announced in Australia at 00:30, followed by a speech at 08:00 by Federal Reserve Bank of Dallas President and Federal Open Market Committee (FOMC) member Richard Fisher, which we should look out for in case it hints at something concerning the faring of the USD. Industrial Production figures are to be announced at 09:00 in Italy, while at 17:00 there is a scheduled speech by Deutsche Bundesbank (Buba) president Jens Weidmann. Both these developments might impact the EUR. Finally, at 23:50 watch out for the announcement of the Tertiary Industry Activity Report in Japan.
Tuesday, 12th November 2013
Tuesday is of particular importance for the GBP as we will have the announcement of the RICS House Price Balance at 00:01, followed by a series of economic indicators being announced at 09:30, including CPI and PPI Input data. CPI figures as well as the Harmonized Index of Consumer Prices will also be announced in Germany at 07:00.
Besides Europe, the most significant developments elsewhere for today, come from Australia and will affect the AUD, since at 00:30 the National Australia Bank (NAB) will announce its Business Confidence Index, while at 23:30 we will have the announcement of the Westpac Consumer Sentiment Index.
Wednesday, 13th November 2013
Wednesday is notably busier all round, with the day’s highlights coming primarily from the UK, where we will have a series of important economic indicators being announced, including the Average Earnings Index, the Claimant Count Change and the Unemployment, all at 09:30, followed by the Bank of England Inflation Report being released at 10:30, when we will also have a speech by the BoE Governor Mark Carney. All of these developments shape a very volatile day for the GBP.
The EUR today is expected to be influenced by the announcement of Industrial Production figures at 10:00.
Important announcements will also happen in the USA today, with the most anticipated being the Federal Budget Balance, which measures the difference in value between the federal government’s income and expenditure during the reported month and which will be made public at 19:00.
The day closes with a series of economic indicators being publicized in Japan, the most noteworthy of which being the GDP data that will come out at 23:50.
Thursday, 14th November 2013
High market volatility is expected today as Thursday appears super busy both in terms announcements and other developments. The day starts with the announcement of Industrial Production data in Japan at 04:30, which will bear an effect on the JPY.
An exciting day ahead for the Euro, with the day-long meeting of the Eurogroup taking place today, along with GDP data being released in France and Germany at 07:00 and the European Central Bank issuing its monthly report at 09:00, to be followed by GDP data being announced at 10:00.
A highly volatile day in store for the GBP as well, due to the announcement of key data in the form of Retail Sales figures being made public at 09.30.
Those interested in the faring of the CAD should watch out for significant Exports and Trade Balance figures which will come out in Canada at 13:30.
Finally, an exciting day for the USD, as we will have many economic indicators being announced at 13:30 including fresh data on the Continuing and Initial Jobless Claims, as well as Non-Farm Productivity, the Trade Balance and Unit Labor Costs. Moreover, the day is also expected to feature significant speeches by the current Fed Chairman Bernanke and the his successor Yellen at 15:00.
Friday 15th November 2013
The week concludes in a less frantic manner, but with important announcements nonetheless. At 10:00 we will have Core CPI and CPI data being announced by Eurostat, which are expected to affect the EUR.
At 13:30 watch out for Manufacturing Sales data that will come out in Canada and impact the CAD.
Lastly, in the USA, we will have the publication of the Import Price Index and the New York Empire State Manufacturing Index at 13:30, followed by Industrial Production data coming out at 14:15.