14 Daily Forex Trading Tips


Will the day be a flat one or one filled with exciting opportunities for traders? Read on the daily forex trading tips for today and get the insights of pro-traders. 

16 August AtoZForex — We commence the day with eleven (11) high impact news releases and we can expect a volatile day ahead of USA news release later in the week. We have already had the Monetary Policy Meetings minutes (non-data) from Australia and saw initially a depreciation of the AUD and appreciate in the latter half of the Asian session. In today’s forex trading tips we look at the CAD, GBP, JPY, NZD and USD as the main currencies under the spotlight from the high impact news releases today, giving traders opportunities. We kick off today with the daily forex tips.

High impact news -16th August 2016

# 1 AUSTRALIA -@ 2:30am BST

Monetary Policy Meeting Minutes – this is non-data high impact news ; Currency affected: AUD.

Forex Trading Tips – This is a detailed report of the RBA Reserve Bank Board’s most recent meeting. It is an insight into the factors that affected the interest rate decision. The markets perceived the report as being more hawkish than expected and we saw the AUD appreciate having lost ground at the start of the Asian session.

# 2 UK -@ 9:30am BST

CPI y/y – Previous 0.5%; Forecast 0.5% ; Currency affected: GBP.

Forex Trading Tips – This is a measure of the price of goods and services purchased by consumers. If the actual is greater than the forecast, we can expect the GBP to appreciate before realigning to the longer term bearish direction.

# 3 GERMANY -@ 10:30am BST

German ZEW Economic Sentiment – Previous -6.8; Forecast 2.1 ; Currency affected: EUR.

Forex Trading Tips – This is a leading indicator of economic health and the data is derived from the survey of approximately 275 institutional investors and analysts in Germany, which asks them to rate the relative 6 month economic outlook for Germany. Market expectation is positive and this will be good for the EUR.

# 4 CANADA -@ 1:30PM BST

Manufacturing Sales  – Previous -1.0%; Forecast 0.8% ; Currency affected: CAD.

Forex Trading Tips – This is a leading indicator of economic health and is a measure of the total value of sales made by manufacturers. Market expectation is a positive data and we can see CAD appreciate against the USD.

#5 USA -@ 1:30PM BST

We have three high impact data news released from the USA at the same time and so traders be careful of being whipsawed during the news releases as there may be mixed reaction in the markets.

  • Building Permits – Previous 1.16M; Forecast 1.15M ; Currency affected: USD

Forex Trading Tips – This is a good indicator of future construction activity and is a measure of the annualised number of new residential building permits issued during the previous month. Market expectation is a positive data and we can see USD appreciate.

  • CPI m/m – Previous 0.2%; Forecast 0.0% ; Currency affected: USD

Forex Trading Tips – This is a measure of the price of goods and services purchased by consumers. Market expectation is a less than the previous month. If the actual is more positive than forecast we can see USD appreciate.

  • Core CPI m/m – Previous 0.2%; Forecast 0.2%; Currency affected: USD

Forex Trading Tips – This is a measure of the price of goods and services purchased by consumers, however, this data excludes food and energy. Market expectation remains the same as the previous month. If the actual is more positive than forecast we can see USD appreciate.

# 6 NZD -@ no time release available

GDT Price Index   – Previous 6.6%; Forecast no data; Currency affected: NZD

Forex Trading Tips – This measures the change in the average price of dairy products sold at auction. There is no exact release time of this data. If the actual figure is greater than forecast we can see NZD appreciate especially against the AUD.

# 7 NZD -@ 11:45PM BST

Additionally, we have three high impact data news released from New Zealand at the same time and so traders be careful of being whipsawed during the news releases as there may be a mixed reaction in the markets.

  • Employment Change – Previous 1.2%; Forecast 0.6% ; Currency affected: NZD

Forex Trading Tips – This is a measure of the change in the number of employed people. Even though data is released is late, it is still seen as a valuable indication of the country’s employment situation. Market expectation is a drop compared to previous month, if we see a more positive figure we can see NZD appreciate.

  • PPI Input – Previous -1.0%; Forecast tbc ; Currency affected: NZD

Forex Trading Tips – This is a leading indicator of consumer inflation and is a measure of the price of goods and raw materials purchased by manufacturers. If the actual is more positive than forecasted, we can see NZD appreciate.

  • Unemployment rate – Previous 5.7%; Forecast 5.3%; Currency affected: NZD

Forex Trading Tips – This is a measure of the percentage of total work force unemployed and seeking employment during the previous quarter. Market expectation is a drop in the unemployment rate compared to previous data released. An even lower figure would be good for the NZD and see it appreciate.

Currency Pairs – Daily Forex Trading Tips

#8 CAD forex trading tips

After seeing the CAD depreciate in the Asian session, we are seeing a correction in the early European session.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bullish direction against the AUD, CAD, EUR, GBP, NZD, USD, although we see a possible correction taking place and change to a bullish direction. Bias is primarily on the SELL side as this could be just a correction.

#9 JPY forex trading tips

Current bias is generally on the bullish side for the JPY.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bullish direction against the AUD, CAD, CHF, GBP, NZD, USD, although we see a possible correction taking place. Bias is primarily on the BUY side.

#10 AUD forex trading tips

We had the Monetary Policy Meeting Minutes (non-data) news release with a “hawkish” outlook. We still have on Thursday the Employment Change and Unemployment data release brings AUD into focus.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bullish direction against the GBP and USD although there is a correction. Neutral on CHF, EUR, NZD, CAD, JPY look for possible breakout trades, and we see a bearish direction against the JPY.  Bias is primarily on the BUY side.

#11 EUR forex trading tips

We need to watch for the German Zew Economic sentiment news and expect positive news with expectancy for EUR to be on a bullish side.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bullish direction against the GBP, USD whilst bearish against the CHF and CAD. Bias is primarily on the NEUTRAL/SELL side.

#12 GBP forex trading tips

With continued weakness seen for the GBP, the GBP once again comes into focus on today’s CPI and Wednesday’s Average Earnings Index and Claimant count change.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bearish direction against the AUD, CAD, CHF, EUR, JPY, NZD and USD.  Bias is primarily on the SELL side.

#13 NZD forex trading tips

The NZD comes into focus on today with a number (4) of key news events.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bullish direction against the AUD, GBP, , JPY, USD. Intraday day bias would be bullish for the NZD.

#14 USD forex trading tips

The USD will be the main focus this week with news data releases today, tomorrow and Thursday this week.

Forex Trading Tips On intraday (H1 TF) the bias currently is on the bearish direction against the AUD, CHF, CAD, EUR, GBP, JPY, NZD and USD. Intraday day bias would be bearish for the USD, however, look for BUY opportunities at key levels after any unexpected positive data releases from the USA today and later this week.

Do you have any questions, related to the Forex trading tips? Let us know down in the comments section.

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