August 28th, 2009
If you missed yesterday’s news post, my apologies. A technical glitch meant it never went up. However, it’s back today and there’s plenty to look out for. Don’t forget if you follow me on Twitter you’ll get alerts before each news announcement too. Starting today, they’ll be 15 minutes before the announcement rather than 30 minutes.
Revised GDP
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: National Statistics
Description: This is the change in the inflation-adjusted value of all the goods and services produced by Britain’s economy.
Tags: Forex, Forex trading, FX, FX trading, GBP, GDP, National Statistics, Revised GDP
Posted in Economic News | No Comments »
August 26th, 2009
Some fairly high impact news out today so watch out for movement if your Forex trading strategy includes USD or EUR. Don’t forget to follow updates on Twitter, too.
German Ifo Business Climate
Time: 8:00am GMT
Currency: EUR
Impact: High
Source: Ifo Institute for Economic Research
Description: A leading indicator of economic health, this is the results of a survey of manufacturers, wholesalers, retailers and builders.
Core Durable Goods Orders
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Census Bureau
Description: This is the change in the total value of purchases recorded by manufacturers for durable goods, not including transportation. Durable goods figures (including transportation) are released simultaneously but with a lesser impact.
New Home Sales
Time: 2:00pm GMT
Currency: USD
Impact: High
Source: Census Bureau
Description: This is the number of new homes purchased in the previous month, represented as an annual figure.
Crude Oil Inventories
Time: 2:30pm GMT
Currency: USD
Impact: Medium
Source: Energy Information Administration
Description: The change in the amount of barrells of oil held by US companies.
FOMC Member Lockhart Speaks
Time: 4:00pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve Bank of Atlanta
Description: Dennis Lockhart, member of the Federal Open Market Committee will make a speech where he could give clues as to future monetary policy.
Tags: Census Bureau, Core Durable Goods Orders, Crude oil inventories, Energy Information Administration, EUR, Federal Open Market Committee, Federal Reserve Bank of Atlanta, FOMC, FOMC Member Lockhart Speaks, German Ifo Business Climate, Ifo Institute for Economic Research, New Home Sales, USD
Posted in Economic News | No Comments »
August 25th, 2009
Once again, here is the high and medium impact economic news to look out for during today’s London Forex trading session.
Employment Level
Time: 7:15pm GMT
Currency: CHF
Impact: Medium
Source: Federal Statistical Office
Description: This is the number of people employed during the previous quarter and gives an indication of consumer spending.
Gov Board Member Hildebrand Speaks
Time: 8:15am GMT
Currency: CHF
Impact: Medium
Source: Swiss National Bank
Description: The vice-chairman of the SNB’s governing board will deliver a speech entitled, “Financial Crisis: Two Years Later” which may include hints about future policy.
BBA Mortgage Approvals
Time: 8:30am GMT
Currency: GBP
Impact: Medium
Source: British Banker’s Association
Description: A leading indicator of housing market demand, showing how many people are entering the market.
Gov Member Jordan Speaks
Time: 9:30am GMT
Currency: CHF
Impact: Medium
Source: Swiss National Bank
Description: This speech by a governing member of the Swiss National Bank may provide clues as to future policy.
NBB Business Climate
Time: 1:00pm
Currency: EUR
Impact: Medium
Source: National Bank of Belgium
Description: Results of a highly respected survey of manufacturers, builders, services firms and trade companies.
Standard & Poor’s Composite-20 HPI
Time: 1:00pm GMT
Currency: USD
Impact: Medium
Source: Standard & Poor
Description: This is the change in the price of single-family homes taken from 20 metropolitan areas.
CB Consumer Confidence
Time: 2:00pm
Currency: USD
Impact: High
Source: The Conference Board, Inc.
Description: A consumer confidence index based on surveyed households.
Gov Member Jordan Speaks
Time: 3:15pm GMT
Currency: CHF
Impact: Medium
Source: Swiss National Bank
Description: This speech by a governing member of the Swiss National Bank may provide clues as to future policy.
MPC Member Bean Speaks
Time: 4:15pm GMT
Currency: GBP
Impact: Medium
Source: Bank of England
Description: Voting member of the Monetary Policy Committee, Charles Bean will make a speech that may include clues to future monetary policy from the Bank of England.
Tags: Bank of England, BBA Mortgage Approvals, BoE, British Banker's Association, CB Consumer Confidence, Charles Bean, CHF, Composite-20 HPI, Employment Level, EUR, Federal Statistical Office, GBP, Hildebrand, Monetary Policy Committee, MPC, National Bank of Belgium, NBB Business Climate, SNB, Standard and Poor, Swiss National Bank, The Conference Board Inc., Thomas Jordan, USD
Posted in Economic News | No Comments »
August 24th, 2009
Don’t forget to follow our forex news updates on Twitter as well!
Industrial New Orders
Time: 9:00am
Currency: EUR
Impact: Medium
Source: Eurostat
Description: Leading indicator of production, using new purchase orders as a guage.
Core Retail Sales
Time: 12:30pm
Currency: CAD
Impact: High
Source: Statistics Canada
Description: A key indicator of consumer confidence, this announcement reports the level of retail sales, excluding the automobile industry.
Notes: Released at the same time is the retail sales figure including automobiles but is seen as more volatile and has a lesser impact.
Tags: CAD, Core Retail Sales, EUR, Eurostat, Industrial New Orders, Statistics Canada
Posted in Economic News | No Comments »
August 21st, 2009
Hi traders, below is the summary of news four today. Just four items all of which will be announced on Twitter as well.
Flash Manufacturing PMI
Time: 8:00am GMT
Currency: EUR
Impact: Medium
Source: Markit
Description: Results of a survey of purchasing managers in the manufacturing industry.
Flash Services PMI
Time: 8:00am GMT
Currency: EUR
Impact: Medium
Source: Markit
Description: Results of a survey of purchasing managers in the services industry.
Existing Home Sales
Time: 2:00pm GMT
Currency: USD
Impact: High
Source: National Association of Realtors
Description: The number of new builds that were sold in the previous month, represented annually.
Fed Chairman Bernanke Speaks
Time: 2:00pm GMT
Currency: USD
Impact: High
Source: Federal Reserve
Description: The Chairman of the Federal Reserve will make a speech about the past year which may include clues as to future policy decisions.
Tags: Bernanke, EUR, Existing Home Sales, Federal Reserve, Flash Manufacturing PMI, Flash Services PMI, Markit, National Association of Realtors, USD
Posted in Economic News | No Comments »
August 20th, 2009
Morning traders, here is the daily summary of economic news to watch out for.
Retail Sales
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: National Statistics
Description: Total value of inflation-adjusted retail sales.
Public Sector Net Borrowing
Time: 8:30am GMT
Currency: GBP
Impact: Medium
Source: National Statistics
Description: The difference in spending and income for Government at local and national levels as well as public corporations.
ZEW Economic Expectations
Time: 9:00am GMT
Currency: CHF
Impact: Medium
Source: ZEW
Description: The results of a survey of institutional investors and analysts, as a diffusion index.
Wholesale Sales
Time: 12:30pm GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: The change in the value of sales in the wholesale markets.
Unemployment Claims
Time: 12:30pm GMT
Currency: USD
Impact: Medium
Source: Department of Labor
Description: The number of people who have filed for unemployment insurance.
Philly Fed Manufacturing Index
Time: 2:00pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve Bank of Philadelphia
Description: The results of a survey of manufacturing companies in Philadelphia.
Tags: CAD, CHF, Department of Labor, Federal Reserve Bank of Philadelphia, GBP, National Statistics, Philly Fed Manufacturing Index, Public Sector Net Borrowing, Retail sales, Statistics Canada, Unemployment Claims, USD, Wholesale Sales, ZEW, ZEW Economic Expectations
Posted in Economic News | No Comments »
August 19th, 2009
Hi traders, here’s todays summary of economic news to be aware of. Don’t forget to follow me on Twitter for extra alerts.
Current Account
Time: 8:00am GMT
Currency: EUR
Impact: Medium
Source: European Central Bank
Description: This is the difference in the value between imported and exported goods and services, income flows and unilateral transfers.
MPC Meeting Minutes
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: Bank of England
Description: The Bank of England release the minutes of the last interest rates meeting.
CBI Industrial Order Expectations
Time: 10:00am GMT
Currency: GBP
Impact: Medium
Source: Confederation of British Industry
Description: The results of a survey of British manufacturers.
Core CPI
Time: 11:00am GMT
Currency: CAD
Impact: High
Source: Statistics Canada
Description: The change in the price of goods or services purchased by Canadian consumers, excluding volatile items.
CPI
Time: 11:00am GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: The change in the price of goods or services purchased by Canadian consumers.
Leading Index
Time: 12:30pm GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: This is a composite index based on 10 economic factors and how that index has changed.
Crude Oil Inventories
Time: 2:30pm
Currency: USD
Impact: Medium
Source: Energy Information Administration
Description: The number of barrels held in inventory by US organisations.
Tags: Bank of England, CAD, CBI Industrial Order Expectations, Confederation of British Industry, Core CPI, CPI, Crude oil inventories, Current Account, Energy Information Administration, EUR, European Central Bank, GBP, Leading Index, MPC Meeting Minutes, Statistics Canada, USD
Posted in Economic News | No Comments »
August 18th, 2009
Good morning traders. Below is a summary of all the high and medium impact news to be aware of during today’s London session. Look out for my Twitter alerts, too. You can now also click on the time to be shown the equivalent time for the different trading sessions.
CPI
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: National Statistics
Description: The change in the prices of good and services that are purchased by consumers.
Core CPI
Time: 8:30am GMT
Currency: GBP
Impact: Medium
Source: National Statistics
Description: As CPI, above, but excluding volatile goods such as food, alcohol, tobacco and energy.
German ZEW Economic Sentiment
Time: 9:00am GMT
Currency: EUR
Impact: High
Source: ZEW
Description: A leading indicator of economic health based on a survey of German institutional investors and analysts.
ZEW Economic Sentiment
Time: 9:00am GMT
Currency: EUR
Impact: Medium
Source: ZEW
Description: A leading indicator of economic health based on a survey of German institutional investors and analysts.
Foreign Securities Purchases
Time: 12:30pm GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: This shows the strength of the currency as it reports the level of domestic bonds, stocks and other money market assets purchased by foreigners.
Building Permits
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Census Bureau
Description: The number of new building permits issued in the previous month, released as an annual equivalent figure.
PPI
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Department of Labor
Description: This is the change to the price of the goods and services sold by American producers.
Core PPI
Time: 12:30pm GMT
Currency: USD
Impact: Medium
Source: Department of Labor
Description: This is the change to the price of the goods and services sold by American producers except for food and energy.
Housing Starts
Time: 12:30pm GMT
Currency: USD
Impact: Medium
Source: Census Bureau
Description: The number of new residential build projects that began during the previous month, represented as an annual figure.
Tags: Building Permits, CAD, Census Bureau, Core CPI, Core PPI, CPI, Department of Labor, EUR, Foreign Securities Purchases, GBP, German ZEW Economic Statement, Housing Starts, National Statistics, PPI, Statistics Canada, USD, ZEW, ZEW Economic Statement
Posted in Economic News | No Comments »
August 17th, 2009
Morning traders, below is a summary of the high and medium impact news for the 17th August.
Empire State Manufacturing Index
Time: 12:30pm GMT
Impact: Medium
Currency: USD
Source: Federal Reserve Bank of New York
Description: This is the level of a diffusion index based on a survey of manufacturing companies in New York State.
TIC Long-Term Purchases
Time: 1:00pm GMT
Impact: High
Currency: USD
Source: Department of the Treasury
Description: The balance between foreign and domestic investment.
Tags: Department of the Treasury, Empire State Manufacturing Index, Federal Reserve Bank of New York, TIC Long-Term Purchases, USD
Posted in Economic News | No Comments »
August 14th, 2009
To be a successful trader it’s important to get some kind of routine together to ensure you get your fundamentals right at the start of each day.
 Pic: koalazymonkey For example, every morning the first thing I do before I even look at price charts is to check what news is coming out during my trading session. I look for the high and medium impact news announcments. I’ll often set up alarms using my phone to remind me 10 minutes before the news comes out. I also make sure I have my Twitter client open ensuring I don’t miss my own scheduled tweets that alert my followers 30 minutes prior to each news announcement.
The second, and most important, action of the day is to check the market flow. I personally only trade one pair – EUR/USD – so I only need to do this once. Knowing the direction of the market, or bias, is crucial to choose whether you’ll be looking for long or short opportunities. Jarratt has a great video within LiveConnect on how to determine market flow.
Once I’ve figured out the direction I’ll be checking price action for clues as to where price might go. For example, whether price is near levels of previous support or resistance or if market flow is close to reversing.
Then I’ll plot my fibonacci line and look for points to trade from according to the bias for the day. That’s when I set my orders and wait for them to be filled.
Trading in this way ensures I have a hassle-free start to the trading day and helps me to be confident that the trades I’m taking are low risk and high reward, just like I was taught.
Tags: Announcements, bias, Economic News, EUR, fibonacci, fundamentals, LiveConnect, market flow, price action, routine, support and resistance, Twitter, USD
Posted in Psychology | No Comments »
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