How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Fresh release for the US dollar
What will happen?
The United States will publish durable goods orders on May 27, at 15:30 MT time. This is an indicator of industrial activity, that shows how many long-lasting manufacturing goods (durable goods) are ordered from domestic manufacturers. Businesses and consumers generally buy durable goods when they are confident the economy is improving. This way, a rise in indicator’s figures pushes the American currency higher.
How to trade on the Durable Goods Orders?
Check the economic calendar for analysts’ forecasts. Before the release, wait for the actual figures to be published.
- If the actual figures outperform expectations, the USD will rise.
- In case of an alternative scenario, the US dollar will fall.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
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