FOREXYARD: Forex News Blog | |
| Bullish Euro Predicted for Next Week Posted: 14 Jan 2011 11:06 AM PST
As we wrap up another trading week, now may be a good time to take a look at next week’s calendar to see what some of the more significant market events are likely to be. On Tuesday, USD traders will want to pay particular attention to the TIC Long-Term Purchases figure, set to be released 14:00 GMT. Analysts are forecasting a significant jump in the figure from last month. Following the past week’s disappointing US economic indicators and the subsequent slide in dollar values, Tuesday’s report may generate some optimism in the US economy. On Wednesday, loonie traders will want to pay attention to the Bank of Canada Monetary Policy Report. The Canadian dollar was able to close out the week on a relative high note against the greenback. Depending on what the BOC’s report says, there is a good chance that it will be able to maintain its bullish trend throughout next week. As always, traders are advised to pay close attention to next Thursday’s US Unemployment Claims. While the past week’s figure turned out to be significantly higher than expected, early predictions are calling for a sizeable drop in the number of people filing for first time unemployment insurance next week. Any figure that is lower than 445K is likely to be positive for the greenback. Finally, next Friday’s German Ifo Business Climate is likely to generate a significant amount of volatility among euro pairs. Early predictions are calling for a higher figure than last month’s, which if true, will likely lead to a bullish euro to close out the week. Traders are warned that predictions for next week’s economic indicators may change before the actual release of the different reports. Check ForexYard’s economic calendar frequently for the latest analysis and the most up to date predictions on the week’s main events. |
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