9 Forex Trading tips for 30th September


Today’s forex trading tips ahead of news from UK and Canada regarding the trade balance and  GDP data respectively. Will GBP weaken further?

30th September AtoZ Forex – Today’s forex trading tips ahead of news from UK (trade balance) and Canada (GDP data) and not forgetting the addition of the Chinese Yuan to the IMF’s basket of currencies as it will sit alongside the USD, EUR, YEN, GBP from tomorrow 1st October. Will GBP weaken further?

High impact news

There are two (2) high impact news events remaining today.

# 1 UK –@ 9:30am BST

Trade Balance – Previous -32.6B; Forecast -30.5B; Currency affected: GBP

Forex Trading Tips – Released on a quarterly basis, it a measure of the difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter. It is linked to currency demand and current market expectation is an improvement in the trade balance and if actual is higher than the forecast, expect GBP to appreciate.

 # 2 CANADA –@ 1:30pm BST

GDP m/m – Previous 0.6%; Forecast 0.3%; Currency affected: CAD

Forex Trading Tips –Canada the only country that releases fresh monthly GDP data as well as a summation quarterly GDP figure based on monthly data. It is a primary gauge of the country’s economic health. Current market expectation is a drop in monthly GDP and if actual data is below the forecast expect CAD to depreciate.

# 3 CHINA – Saturday 1st Oct @ 2:00am BST

Manufacturing PMI – Previous 50.4; Forecast 50.5; Currency affected: CNY

Forex Trading Tips – Current market expectation is an increased expansion and if actual data is greater then the forecast expect CNY to appreciate.

Currency Pairs – Daily Forex Trading Tips

#4 AUD forex trading tips

The AUD performance was bearish in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is bearish against CAD,  GBP, JPY,  USD and bullish EUR, NZD although this could be a short term correction.

#5 CAD forex trading tips

The CAD performance was neutral in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is on the bullish against  EUR, NZD and bearish  CHF, GBP, JPY, USD.

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#6 EUR forex trading tips

The EUR performance was  neutral in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is on the bearish against the CHF, GBP, USD.

#7 GBP forex trading tips

The GBP performance was on a roller-coaster in the Asian session.

Forex Trading Tips – On intraday (H1 TF) the bias currently is bullish against AUD, CAD, NZD, USD and bearish JPY.

#8 JPY forex trading tips

The JPY performance continued its bearish direction in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is bullish against the  AUD, NZD and USD.

#9 USD forex trading tips

The USD performance was  on the choppy in the Asian session.

Forex Trading Tips –On intraday (H1 TF) the bias currently is on the bullish direction against the AUD, CHF, EUR, GBP,  NZD and bearish JPY.

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