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Saturday, February 4, 2017

[FOREX TIP] Weekly Forex News Events for EURUSD – 6th to 10th Feb 2017

Weekly Forex News Events for EURUSD – 6th to 10th Feb 2017

EURUSD had a bullish week. There were a number of news events last week, but the pair did not react to them as it normally does. Especially, Friday’s Non Farm employment change could have been a vital issue to drive the pair much further down. That did not happen. One of the reasons could be the trend with the EURUSD favored the buyers over the sellers.

Let us now have a look at the next week’s news events.

Wednesday- 8th February – 15.30 GMT

  • Crude oil inventories

One of the news events, which has to be taken care by the Intra-day traders. This news event has the tendency to create long spike and swipe off intraday traders’ stop losses.

Thursday- 9th February- 13.30 GMT

  • Unemployment claims

This week’s forecast is 246K. This forecast number is the lowest among last 4 week’s forecast number. Overall, US unemployment data has been good for the last 4 weeks. On 26 January, the actual claim was 259K, whereas forecast was 247K. However, on 19 January forecast was 252K, actual claim was 234K, and on 2 February forecast was 251K, actual claim was 246K. According to the number of claims in the last 4 weeks, 246K is going to be an interesting number. If the actual claim comes out higher than the forecast, then we might see huge volatility in EURUSD.

Friday-10th February-15.00 GMT

  • Prelim Uom consumer sentiment

This is another news event, which has a tendency to create spike. Since this news event takes place at the 11th hour of a trading week, sometimes this news event can be a big factor for the following week. However, with this news event what most important is traders should take care their running intraday trades. Otherwise, volatility caused from this news event, only take out their stop losses.

The post Weekly Forex News Events for EURUSD – 6th to 10th Feb 2017 appeared first on Advanced Forex Strategies.



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