It is another big day ahead, with key data on the list of daily Forex news and trade opportunities. Ranging from inflation data from the UK and the US to German ZEW Economic Sentiment and New Zealand employment report and more.
16 August, AtoZForex – On the daily Forex news and trade opportunities, we commence with news from wall street.
#1 Wall Street banks as for more time
Wall Street banks have asked the Fed to postpone the deadline for the full implementation of the Volker rule by five more years. Based on the argument that they require additional time to exit the certain investments that are “illiquid” and are no longer allowed by law.
#2 BRICS shuts door to new members
Sergei Lavrov, Russian Foreign Minister stated on Monday that BRICS is not considering accepting new members despite the major international interest to the association. Recently the BRICS association was drawing a lot of attention and attracting the interest of other countries. However, the group stated that it has no intention to accept new BRICS members anytime soon.
#3 UK inflation data and more
The UK consumer price index which is a primary gauge of inflation is forecast to remain at 0.5%, same as the previous release. The pound has maintained its bearish trend, hence, a bad report here will weaken the pound further.
Opportunity: Sell GBPUSD on bad report
#4 RBA says Lower Rates To Provide “Room for Stronger Growth
The Monetary Policy Meeting Minutes released earlier today showed that Policymakers at the Reserve Bank of Australia remained firm on their decision to lower interest rates this month to a record low of 1.5%. They also maintained that there was no material change in their forecast for inflation.
Opportunity: Buy AUDUSD on dips
#5 New Zealand data due
Today, we have a host of key data due from New Zealand. Starting with the quarterly employment data. It is expected to show a 0.6% change in the number of employed people. While the unemployment rate is expected to drop to 5.3% from 5.7%. The Producer Price Index (PPI) is also scheduled for release alongside the GDT Price Index.
#6 US inflation data
The US consumer price index (CPI) is forecast to come flat at 0.0%, while the core CPI is expected to come at 0.2%. With rumours about a September rate hike looming, this data will be closely watched. Hence, strong volatility ahead for the USD.
Opportunity: Buy AUDUSD on disappointing US CPI.
#7 S&P 500 andNasdaq reach new high
On the stock market front, the S&P 500 and Nasdaq commenced the week with another rise to all-time intraday highs overnight on Monday. Although momentum has been fading as both stock indices traded in the tight range before edging higher.
Think we missed something? Let us know down in the comments section.