What events to follow and how to trade during the week of July 2-6?
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.
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).