The Week Ahead for Binary Options Traders 20 – 24 October 2014

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The Week Ahead for Binary Options Traders

Last week proved interesting for forex and binary options traders since events and announcements of data and economic indicators have meant several big moves in most asset classes, including price movements in commodities such as oil, but mostly action in the currencies category. This week starts off rather quietly but picks up as it moves along, promising to offer interesting opportunities for investments and profit making. Let us have a closer look:

Monday, 20th October

No major market moving events or announcements are scheduled for today, while the low impact events that are expected to occur will most probably not create significant investment opportunities. However, stay vigilant for any last minute upsets as markets are always unpredictable and volatile.

Tuesday, 21th October

Following  a slow start the investing week gradually picks up pace, but Tuesday is still relatively quiet with the most anticipated event coming from China, with the announcement of the country’s third quarter GDP figures coming at 02:00 GMT. The figures are expected to be positive and coupled with recent announcements from China cooperating with Russia in the financial sector and also taking into account the unrest in Hong Kong, the world’s most populous country is surely one to watch closely and likely to offer many investment opportunities in the days to come.

Wednesday, 22nd October

Wednesday is definitely action packed and comes to compensate for the slow start in the week. As early as 00:30 GMT eyes should turn down under for the release of Australia’s Consumer Price Index for the third quarter, while those interested in the AUD and its pairings, should also check out the speech to be delivered by the RBA Governor Glenn Stevens at 09:00, who reveal interesting details about the future intentions of the Australian Central Bank. Moving on to the UK, at 08:30 we will have the much anticipated interest rate decision by the Bank of England as well as the release of the relevant meeting minutes, both of which are bound to affect the trading of the GBP. The next major event on the agenda comes from the US at 12:30, when the Consumer Price Index data for the month of September will be announced. As inflationary pressures are a hot topic and the figures may mean that the FED will have to postpone its intended rate hike, this announcement is definitely one to watch carefully. The next market moving event of the day will be the announcement of the Bank of Canada interest rate decision at 14:00. Although the rate is expected to remain unchanged the decision is still interesting especially since analysts wonder whether the Canadians will proceed with a rate hike before the US FED does so. Finally, to close a busy day, at 21:45 GMT eyes should turn on New Zealand for the release of the country’s third-quarter Consumer Price Index.

Thursday, 23rd October

All important action for today comes from the USA, where first at 12:30 the Initial Jobless Claims figure for the week of October 17th will be released. Claims are once again expected to drop, further increasing hopes that the US economy will achieve its anticipated growth rate. Some time later, at 13:45 Markit will release a PMI report on theUS Services sector, and its outcome is highly likely to affect the trading of the USD.

Friday, 24th October

Two major market moving announcements to watch out for today: the first comes at 08:30 GMT from the UK in the form of the country’s GDP data announcement for the third quarter, bound to have an impact on the trading of the Pound Sterling and also give clues as to the future of the UK economy and a possible rate hike in the future. The final announcement to anticipate for this week, comes at 14:00 from the US, through the announcement of the New Home Sales Figure, which are expected to rise further and justify the claim that the housing market recovery is doing well.

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