Your free guide to the markets this week
To help you to earn more with TIQL we’ve produced this free guide to the markets and dates to watch this week. Financial markets can move a lot when economic news and similar announcements are made, and may provide some opportunities to trade.
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JPY: under pressure with a potential rate change in sight
The Bank of Japan’s dovish stance comes under scrutiny (20th 7.30am GMT) as reflationary indications push opinion away from further stimulus. Governor Kuroda gets a grilling in the Press Conference after the Outlook Report and Rate Statement. The question is whether the July 7th intervention reassures traders that the bank has control of borrowing costs or not.
EURUSD: 3 key events this week
In another key market interest rates are the centre of attention this week. The ECB details its minimum bid rate on 20th (12.45pm GMT) It’s stayed put at 0.00% since March 2016 but economic indications point to a chance of movement. The press conference (1.30pm GMT) should reveal more. Watch market reactions to the German Economic Sentiment (18th 10am) and the Final CPI (17th 10am) on forex and DAX to get an idea of which way traders think the ECB will jump.
USD: building permits and oil lead the way
The number of new builds has been overestimated since February so predictions of an increase to 1.20M (19th 1.30pm) are not entirely reliable, though traders would take the increase as a sign of domestic strength if true. Crude Oil Inventories have been dropping back in line with OPEC policy and far faster than forecast so the announcement on 19th (3.30pm) will be another reduction if the trend continues.
Here are the main news events to look out for this week:
- Monday 17th July
22:45:00 GMT NZD CPI q/q
- Tuesday 18th July
01:30:00 GMT AUD Monetary Policy Meeting Minute
08:30:00 GMT GBP CPI y/y
13:30:00 GMT GBP BOE Gov Carney Speaks
- Wednesday 19th July
12:30:00 GMT USD Building Permits
14:30:00 GMT USD Crude Oil Inventories
- Thursday 20th July
01:30:00 GMT AUD Employment Change
01:30:00 GMT AUD Unemployment Rate
03:50:00 GMT JPY Monetary Policy Statement
04:00:00 GMT JPY BOJ Outlook Report
04:00:00 GMT JPY BOJ Policy Rate
06:30:00 GMT JPY BOJ Press Conference
08:30:00 GMT GBP Retail Sales m/m
11:45:00 GMT EUR Minimum Bid Rate
12:30:00 GMT USD Unemployment Claims
12:30:00 GMT EUR ECB Press Conference
- Friday 21st July
12:30:00 GMT CAD CPI m/m
12:30:00 GMT CAD Core Retail Sales m/m
Some Markets to Watch
The Dow is making new highs. Chart action shows it moving in a channel making higher highs and higher lows. Will the old highs now act as support for the buyers to push on?
The Dax has moved back into the range and is sitting on intermediate support. Will support hold and price retest the highs?
Brent oil has found supply at the half way back. The next level up is the 61.8 Fibonacci, which coincides with previous chart structure. There is also an ABCD pattern which may complete near the 200 daily moving average.
GBPUSD has broken through the resistance and is currently trading above 1.3040. All eyes will be on this level going into the week
Gold has moved up and is retesting a level which has acted as support and resistance. This will be a key level to watch on gold
Whichever way you think these markets are going to go, you can trade these and other markets from as little as 1 cent with TIQL.
Markets can really move during news events; all TIQL trades come with guaranteed stops to always protect you from losing more than you have invested in a trade.
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