FOREXYARD: Forex News Blog | |
| Preview of the Week of Feb. 21-25 Posted: 18 Feb 2011 11:27 AM PST
The next week promises to be quite volatile as a large amount of significant news out of the US gets set to be released. Following this week’s bearish run from the USD, investors are anxious to see whether the dollar will be able to stage an upward correction. USD traders will want to pay particular attention to Tuesday’s CB Consumer Confidence figure, as well as Wednesday and Thursday’s Existing and New Home Sales figures. Early predictions are showing that each figure is likely to improve slightly over last month. In addition, Thursday’s Unemployment Claims figure is likely to generate heavy activity in the marketplace. After this week’s disappointing figure, all eyes will be closely watching to see if the number of unemployed people drops in the US. If so, the dollar may turn out to have a profitable week. The euro is also likely to see some volatility next week. In addition to specific indicators like Monday’s German Ifo Business Climate and Friday’s French Consumer Spending figure, traders will want to focus on any news regarding euro-zone debt. The last few weeks has seen the 17-nation single currency drop as renewed sovereign debt worries in the euro-zone caused investors to turn away from the currency. It appears that the euro will not be able to stage a consistent recovery until a concrete plan is established to combat the debt issues. |
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