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To help you to earn more with TIQL we’re sharing 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.
Remember, you can earn some extra cash by inviting people to trade with TIQL. The very first time someone you invite makes a deposit of $5 of more, you will receive $1. Whoever you invite also gets $1 USD to trade with; you can’t get better than that! You can keep earning as we pay you a percentage every time your supporters trade with TIQL.
Here are our predictions for data that could make trading news this week:
4 Bank Rates to Rock the Week
If you like the roller coaster ride when banks make interest rate decisions, you’ve got a good week ahead with 4 major rates being set.
First to go is the Reserve Bank of Australia announcing its new Cash Rate (Tuesday 6th March 3.30am GMT). The Rate Statement, out at the same time, could have a few hidden gems but the 1.50% rate looks likely to stay the same.
The Bank of Canada releases its new Overnight Rate next (Wednesday 7th 3pm GMT). With the recent rise in January, not many expect any change so the accompanying Rate Statement will be where it’s at. Listen out for news on NAFTA – news about the trade agreement is having a noticeable effect on CAD at the moment.
Contending with the fallout from the Italian elections as populist parties gained strength, all EUR trading eyes switched to the ECB this week. The European Central Bank’s Minimum Bid Rate (Thursday 8th 12.45pm GMT) has stood at 0.00% since March 2016. A majority of opinion holds that it won’t change this month either. The Eurozone economy was looking strong at the start of the year but experienced some bumps in the PMIs last month. This month Trump’s tariff threats add little positive to the mix so keeping things stable is high on the agenda.
Japan closes the week for bank rates when the Bank of Japan shares its latest Policy Rate (Friday 9th March time to be confirmed). Held at -0.1% since September 2016 there have been murmurs about a change of position. The Policy Statement and Press Conference should be good for positions into the weekend.
AUD: 7 essential data traders need to know
It’s a busy week for AUD traders with a plethora of data to digest. Here are the 7 essential data traders need to manage if they’re serious about their Aussie dollar action.
The biggest news of the week is the Reserve Bank of Australia’s Cash Rate and Rate Statement (Tuesday 6th 12.30am GMT). The 1.50% rate has stood for 19 consecutive months and few people expect RBA Governor Lowe to break that status quo. Futures markets don’t see any rise this year, not even a teeny little 0.25% one. That makes things interesting when the general economy appears to be doing well but data suggests the Aussie consumer is heavily debt-laden.
The Rate Statement, out just after the Cash Rate, will have traders analysing every word for clues to the direction of future rate changes. RBA’s Governor, Rob Lowe, has a difficult path to navigate.
Not as significant as the Cash Rate, the Australian Current Account is actually the first major AUD event of the week (Tuesday 6th 12.30am GMT). It should set the tone for traders. With the deficit set to grow from -9.1B to -12.3B, it doesn’t look like a cause for celebration.
Retail Sales (Tuesday 6th 12.30am GMT) adds more curious detail to the complex Australian picture with predictions of a swing to growth from -0.5% to 0.4%. Closely correlated to the domestic economy this is either a positive sign of a a strengthening economy or another nail in the debt coffin of the average citizen.
RBA Governor Lowe will address the issue of the Changing Nature of Investment in Sydney, Australia (9.35pm GMT Wednesday 7th March). Coming so soon after the new Cash Rate traders will be looking for indications of what Lowe plans to do next.
GDP (Wednesday 7th 12.30am GMT) had expectations of growth downgraded to 0.5% from 0.6%. That would be the second shrinkage in a row and way off the 1.1% seen a year ago.
The Aussie Trade Balance is the final major data of the AUD week (Thursday 8th 12.30am GMT). Forecasts suggest a swing from -1.36B to 0.22B in the black. With a weak AUDUSD pairing this could change a few minds to a positive outlook for the Australian dollar.
Plenty of events this week should give Tiql’s AUD traders lots of action and could see widely differing opinions of the currency emerge.
USD: vital job figures (but not for farmers) and other key data
Are you excited? We’re excited. What a trading week we’ve got this week for USD and the cream of the crop is Non-Farm Employment Change (Friday 9th March 1.30pm GMT).
Recent months have seen employment levels go against predictions more times than Trump’s tweets have upset world leaders, so buckle up for a fun market ride this week. Standing at 200k pundits expect a rise to 204k. The domestic economy is the biggest influence on the dollar so finding out whether John Doe has a job matters.
Also big on the dollar calendar this week is ISM Non-Manufacturing PMI (Monday 3pm GMT) with a healthy 59.9 predicted to drop to 58.9. That’s still way above the 50 threshold between positive and negative outlooks.
And don’t forget your midweek oil news with Crude Oil Inventories (Wednesday 7th 3.30pm GMT). OPEC may be mostly sticking to its agreement to make cuts to shore up oil prices, but the US is having none of it. Last week saw an increase of 3.0M when analysts only forecast 2.4M and previous weeks have been in the black since mid-January apart from one minor blip two weeks back.
Here are the main news events to look out for this week:
- Tue Mar 06
- 18:15:00 GMT GBP MPC Member Haldane Speaks
- 21:35:00 GMT AUD RBA Gov Lowe Speaks
- Wed Mar 07
- 00:30:00 GMT AUD GDP q/q
- 13:15:00 GMT USD ADP Non-Farm Employment Change
- 15:30:00 GMT USD Crude Oil Inventories
- 15:00:00 GMT CAD BOC Rate Statement
- 15:00:00 GMT CAD Overnight Rate
- Thu Mar 08
- 00:30:00 GMT AUD Trade Balance
- 12:45:00 GMT EUR Minimum Bid Rate
- 13:30:00 GMT EUR ECB Press Conference
- 16:00:00 GMT CAD BOC Gov Poloz Speaks
- 20:35:00 GMT CAD Gov Council Member Lane Sp
- Fri Mar 09
- 03:50:00 GMT JPY Monetary Policy Statement
- 03:50:00 GMT JPY BOJ Policy Rate
- 06:30:00 GMT JPY BOJ Press Conference
- 09:30:00 GMT GBP Manufacturing Production m/m
- 13:30:00 GMT USD Non-Farm Employment Change
- 13:30:00 GMT USD Average Hourly Earnings m/m
- 13:30:00 GMT USD Unemployment Rate
Some Markets to Watch…
BTCUSD: Bitcoin is pressured down as the market struggles to find fresh bullish catalysts to push it higher. We are currently trading within last week’s range. The key levels to watch are 12000 and 9000 as we go into the week.
USDJPY: We are still trading below a key zone and there is some clear trading space to 101. For now, this looks bullish on daily closes above 108 and bearish below 106. 101 remains a key area of interest for the bears.
Crude: Still in the range for now. Certainly a deeper correction is within reason. Right now the lines in the sand to watch are $61 and $64.
GBPUSD: The chart below says it all. We are trading at a key level here as you can see.
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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