2013-03-11 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Manufacturing Production]
if actual > forecast = good for currency (for GBP in our case)
U.K. Industrial Output Growth Slows More Than Forecast
U.K. industrial production growth slowed more than expected in
January, while manufacturing output growth remained stable compared to
December, official data showed Tuesday.
Industrial output edged up
0.1 percent from December, the Office for National Statistics reported.
Output was forecast to expand 0.2 percent, following December's 0.5
Manufacturing output grew 0.4 percent as seen in December and stayed above the 0.3 percent rise forecast by economists.
2013-03-11 15:00 GMT (or 16:00 MQ MT5 time) | [GBP - NIESR GDP Estimate]
2013-03-12 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - Home Loans]
if actual > forecast = good for currency (for AUD in our case)
Australia Home Loans Flat In January
The total number of home loans in Australia was roughly unchanged on
month in January, the Australian Bureau of Statistics said on
Wednesday, standing at 51,054.
That was shy of forecasts for an
increase of 0.5 percent following the downwardly revised 3.3 percent
contraction in December (originally down 1.9 percent).
Global Stock Markets Resume Selloff (based on forexminute article)
The shaky risk sentiment in the markets forced US equities to decline in
recent trading, a sign that global stock markets might be ready to
resume their selloff sooner or later. The conflict in Ukraine is still
present while authorities are still investigating the missing Malaysia
Airlines plane's disappearance, lending more uncertainty in the forex
Trendless Markets: 3 Common Mistakes and How to Correct Them (based on dailyfx article)
Inconsistent trading due to range bound markets could be a result of several factors. Here are 3 common mistakes made:
Error #1 - Using the wrong type of strategyCorrection – Match the strategy to the current market conditionOne of the most overlooked elements in creating a trading plan is
matching your strategy to the current market environment. Once we find a
strategy that ‘works’, we tend to stick with that strategy. There is
nothing wrong with that. However, we need to realize and remember that
our strategy is NOT designed to well all of the time. There are times
our strategy will be out of favor with the market conditions. It is
recognizing those situations and taking appropriate action which we
typically miss.Error #2 – Stop Loss is too closeCorrection – Give your trade room to breathe for the life of the tradeAnother common mistake that traders make is assuming their risk is
relegated to the distance of their stop loss to their entry. The truth
is the risk to your account is how much currency you stand to lose if
the trade does not work out!
Error #3 – Getting impatient and closing trades before the stop or target is reachedCorrection – Remember that trendless markets generally take longer to reach support or resistance levelsFrustration for lack of movement is a big reason traders get impatient.
We live in a culture of fast food and 15 minute oil changes. We want it
and we want it now! The same applies in trading.
Forex rigging claims could prove to be bigger scandal than Libor, says Carney
Bank of England chief defends governance structure and speed with which Bank reacted to claims during questioning by MPs
Stocks in 'euphoria mode': Citi strategist
The stock market entered "euphoria mode" late last year and has
remained there, except for a week in February, as "speculative froth"
bubbles around the market's hottest sectors, Citi's chief equity
strategist told CNBC on Tuesday.
Tobias Levkovich said he remains generally bullish on 2014, which he thinks has a 90 percent chance of ending positive.
But he sees worrisome signs in Citi's "Panic-Euphoria" model, which
crossed into "euphoria mode" in November and December. He said that
indicates a high probability of markets swinging downward.
"You worry about social media. You worry about biotech. You worry about
some of these fuel-cells stocks where there is some speculative froth
going on," Levkovich said on "Squawk on the Street."
Trading the News: Reserve Bank of New Zealand Interest Rate Decision (based on dailyfx article)
According to a Bloomberg News survey, all of the 15 economists polled
see the Reserve Bank of New Zealand (RBNZ) raising the benchmark
interest rate by 25bp in March, and the central bank may look to
normalize monetary policy throughout 2014 as the pickup in economic
activity raises the outlook for growth and inflation.What’s Expected:
Time of release: 03/12/2014 20:00 GMT, 16:00 EDT
Primary Pair Impact: NZD/USD
Forecast: 2.75%Why Is This Event Important:
Indeed, RBNZ Governor Graeme Wheeler may sound a more hawkish this time
around amid the ongoing threat of an asset-bubble, and interest rate
decision may spur fresh highs in the New Zealand dollar should the
central bank show a greater willingness to implement a series of rate
hike over the coming months.How To Trade This Event Risk
Bullish NZD Trade: RBNZ Raises Rates & Pledges to Normalize Further in 2014
January 2014 Reserve Bank of New Zealand Interest Rate Decision :
Potential Price Targets For The Rate Decision
2013-03-13 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - Employment Change]
Australia Unemployment Rate Steady At 6.0%
Australia posted a seasonally adjusted unemployment rate of 6.0
percent in February, the Australian Bureau of Statistics said on
Thursday - in line with expectations and unchanged from the January
The Australian economy
gained 47,300 jobs in February to 11,530,800 - blowing away
expectations for a gain of 15,000 following the loss of 3,700 jobs in
the previous month.
Full-time employment increased by 80,500 to 8,049,900 and part-time employment decreased by 33,300 to 3,480,900.
Trading the News: U.S. Retail Sales (based on dailyfx article)
Time of release: 03/13/2014 12:30 GMT, 8:30 EDT
Primary Pair Impact: EURUSD
Forecast: -0.2% to 0.4%
Why Is This Event Important:
With the Federal Open Market Committee (FOMC) widely expected to discuss
another $10B taper at the March 19 meeting, a pickup in private sector
consumption may put increased pressure on the central bank to normalize
monetary policy sooner rather than later, but we may see Fed Chair Janet
Yellen preserve the zero-interest rate policy (ZIRP) for an extended
period of time in an effort to curtail the ongoing slack in the real
economy.How To Trade This Event Risk
Bullish USD Trade: Household Spending Increases 0.2% or Greater
Potential Price Targets For The Release
January 2014 U.S. Retail Sales :