Key Forex Economic Data to Look Out For Today

ForexDeutsche Bank AG is seen as probably the “most impacted” with a fine of as much as 5.1 billion euros ($6.5 billion), according to Citigroup analyst, Kinner Lakhani. Photographer: Krisztian Bocsi

After ECB decision to cut deposit rate to minus 0.30 percent and extend its stimulus (quantitative easing) program by additional 6 months at 60 billion euro a month yesterday. The financial market is about to witness yet another volatility today as the world await FED decision in two weeks.

Key Forex economic data to look out for today  

Currency              Economic Data                         Actual          Expected            Previous

AUD                       Retail Sales m/m                     0.5%             0.4%                     0.4%

CAD                       Employment Change               -35.7k          -9.7K                      44.4K

CAD                       Trade Balance                           -2.8B           -1.7B                        -1.7B

CAD                       Unemployment Rate                 7.1%             7.0%                      7.0%

CAD                       Labor Productivity q/q              0.1%           0.2%                     -0.6%

USD                       Earnings m/m                             0.2%          0.2%                     0.4%

USD                       NFP Change                                  211k          201K                     271K

USD                       Unemployment Rate                   5.0%        5.0%                      5.0%

The Euro reached a new height against majors yesterday after ECB president, Mario Draghi made the decision of the union to increase stimulus known, but sadly European stocks failed to respond likewise and fell to their lowest in three weeks as the struggle to lift inflation to 2 percent target in the region lingered. If non-farm payroll came out positive, I will be looking to sell EU and EURGBP pairs.

Edited: I sold these two pairs as stated


About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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