To help you to earn more with TIQL we’re sending you this free guide to the markets and dates to watch this week. Economic news and announcements cause financial markets to move a lot, and may provide some opportunities to trade.
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USD: Non-Farm and friends
Traders love US Non-Farm Employment Change. It has soared recently and June was no exception rising to 222K (175k predicted). Analysts forecast a decline to 183k (4th 1.30pm GMT). Employment rates are a good indication of an economy’s condition and this is an early data.
Other job data this week include Canada’s Unemployment Rate (4th 1.30pm GMT), which is predicted to stay the same (6.5%). Spanish Unemployment Change (2nd 8am GMT) is set to fall (-66.K). This should have some effect on the EUR markets. New Zealand (1st 11.45pm GMT) faces suggestions of a drop from 1.2% to 0.7% in the quarterly Employment Change and Unemployment Rate falling from 4.9% to 4.8% (at the same time).
FOREX: AUD CAD USD Trade Balances
CAD traders want to know if last month’s deficit decline from -0.6B to -1.1B was a real downturn or if predictions for -1.4B are correct (4th 1.30pm GMT). Elsewhere, the Australian economy received a boost when a Trade Balance of 2.47B was revealed after analysts had forecast 1.00B (3rd 2.30am GMT). With the Aussie bank rates up for debate on 4th as well there’s a lot to play for.
USA Trade Balance figures (4th 1.30pm GMT) will be overshadowed by Non-Farm Employment Change. A decrease (-46.5B to -45.6B) is on the cards, but there’s a lot else to focus on this Friday in the USD markets.
GBP/AUD: bank rates
Which way will the BoE Monetary Policy Committee jump? (3rd 12pm GMT) Change seems more like a real possibility now. June saw three members of the Monetary Policy Committee want to raise interest rates against five who wanted to keep them the same. To see which way they might jump this week we might look at last week’s Preliminary GDP, which was marginally better than expected at 0.3% and Average Earnings, which aren’t rising as fast as hoped.
Some are predicting no change again this month. But opinion is divided with a growing clamour for a rise, and it’s not completely off the cards for us to see movement here. BoE Governor Carney should be interesting during the Press Conference (3rd 12.30pm GMT). Any unexpected answers could see movement in a volatile market.
Also this week RBA releases its interest rate update (1st 5.30am GMT). Some analysts see a hawkish attitude ahead leading to a new direction for the AUD markets.
Here are the main news events to look out for this week:
Tuesday 1st August
- 04:30:00 GMT AUD RBA Rate Statement
- 08:30:00 GMT GBP Manufacturing PMI
- 12:00:00 GMT USD ISM Manufacturing PMI
- 22:45:00 GMT NZD Unemployment Rate
- 22:45:00 GMT NZD Employment Change q/q
Wednesday 2nd August
- 08:30:00 GMT GBP Construction PMI
- 12:15:00 GMT USD ADP Non-Farm Employment Change
- 14:30:00 GMT USD Crude Oil Inventories
Thursday 3rd August
- 01:30:00 GMT AUD Trade Balance
- 08:30:00 GMT GBP Services PMI
- 11:00:00 GMT GBP Official Bank Rate
- 11:00:00 GMT GBP BOE Inflation Report
- 11:00:00 GMT GBP Monetary Policy Summary
- 11:00:00 GMT GBP MPC Official Bank Rate Votes
- 11:30:00 GMT GBP BOE Gov Carney Speaks
- 12:30:00 GMT USD Unemployment Claims
- 14:00:00 GMT USD ISM Non-Manufacturing PMI
Friday 4th August
- 01:30:00 GMT AUD Retail Sales m/m
- 01:30:00 GMT AUD RBA Monetary Policy Statement
- 12:30:00 GMT CAD Employment Change
- 12:30:00 GMT USD Unemployment Rate
- 12:30:00 GMT USD Average Hourly Earnings m/m
- 12:30:00 GMT USD Non-Farm Employment Change
Some Markets to Watch…
Gold: Starting to look like we might get a third test of the highs near 1295 should the bulls get a good run. Any closes below 1260 could see the shorts take a stab here and try for the 1243 support zone.
CRUDE:the 200 SMA is key now for traders as we trade near the psychological round number of $50. The shorts may be watching the action on this level to see if price fails to break into new highs. Any breaks and continuations above the 50 level, and the bulls might push for more
S&P500: We made new highs last week before price came off of the highs. We have key resistanace (which was support) at 2453 and 2405 has acted as support and resistance. Any closes below the 2450 zone and we might see the shorts start to push a correction on this markets. The bulls might hold this level and make a try for the highs once more.
GBPUSD: has broken and held through key support at 1.30. It looks like the bulls are trying for the 1.32 key zone. The next zone of interest is the half way back at 1.35 should 1.32 hold for the bulls
USDJPY: The shorts have this for now and are making lows for the month. 1.12 is the line in the sand for the bears with the ascending trend line looking like a likely option for the bears to take profit
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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