The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
A chance to trade the USD
The United States will release durable goods orders at 15:30 MT time on June 27. What is this strange thing and why does it matter to Forex traders?
To keep it simple, durable goods orders represent just another important piece of the US economic statistics. Durable goods are goods like automobiles, tools, etc. that have a long term of service. If manufacturers order a lot of such goods, it means that they are increasing their activity and will produce more. Production contributes to economic growth, so an increase in durable goods order is positive for the American currency. Do not miss this release if you trade USD!
- If the indicator is greater than the forecast, the USD will rise.
- If the indicator is weaker than the forecast, the USD will decline.
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
What will happen? Australian Bureau of Statistics will announce Core PCE Price Index at 03:30 MT (GMT+3) on Wednesday, October 27…
Last week was full of surprises! Stock indices have shown significant growth…