Welcome to the easyMarkets weekly review where we look back over the results of some of the previous week’s economic indicators. It gives us the chance to reflect on how much expectations were met or missed and to examine a successful trade you could have made this week.
Event: US Housing Data (March)
Date: Tuesday 25 April 2017 at 14:00 GMT
Markets affected: EUR/ USD, GBP/USD
Trending hashtags: #usd, #housing
US housing data streaked ahead and hit a three year high. New home sales in March surpassed expectations of 0.585 million to hit 0.612 million and a month on month change of 5.8%. On the back of encouraging housing data, positive earnings and possible tax cuts from the Trump administration Tuesday saw US stocks extend their rally with the Dow leaping 200 points and the Nasdaq closing over 6000 for the first time in its history. The DJIA increased 1.1% to a high of 232 points. The Nasdaq rose 0.7% or 41.67 points and passed the 6k milestone to hit 6,025.49. The S&P 500 also rose 0.6% and closed the day at 2.388.61 – just shy of its record close on 1 March of this year.
Event: Australian Inflation Data
Date: Wednesday 26 April 2017 at 09:00 GMT
Markets affected: AUD/USD, AUD/GBP
Trending hashtags: #aud, #inflation, #cpi
The Consumer Price Index for Australia came in at a 0.5% change for the quarter, a little below the expected 0.6% change. Rising petrol and electricity prices pushed inflation on a year-on-year basis to 2.1% bringing it within range of the Reserve Bank of Australia’s 2-3% target. Analysts however are not expecting to see a change in the cash rate which is currently sitting at 1.5% as the central bank at their last meeting noted concerns over housing and labour figures.
Event: European Central Bank Interest Rate Decision
Date: Thursday 27 2017 at 11:45 GMT
Markets affected: EUR/ USD, EUR/GBP
Trending hashtags: #ecb, #interestrate
The European Central Bank maintained the current status quo for the monetary policy. They kept the interest rate at 0% and the bond-buying programme for up to EUR 60 billion per month in place. ECB president, Mario Draghi, noted the solidity of the common region’s economic recovery and mentioned a retreat in fears for trade protectionism from the US Trump administration. Regardless of these positive signs for the Eurozone, the central bank president noted that inflation was not yet high enough to consider any rate hikes. Inflation hit a four-year high in February but dropped back in March to 1.5%, at least half a percent below the target for the bank.
Event: US Durable Goods Orders (March)
Date: Thursday 27 April 2017 at 12:30 GMT
Markets affected: EUR/ USD, GBP/USD
Trending hashtags: #usd, #durablegoods
Durable Goods Orders for March disappointed by rising only 0.7%, missing analysts’ forecast of 1.2% and performing under par compared to February’s 1.7% change. Manufacturing is a key sector for the US economy as it accounts for 12% of all activity so a modest figure for March may show a slight retraction for the sector following positive growth over the previous months.
Trade of the Week
Time in: Tuesday 25 April 2017 at 10:00 GMT
Market : US30
Investment: $500 with 200:1 leverage
Time out: Tuesday 25 April 2017 at 15:00 GMT
If you had bought the Dow Jones with a $500 margin at the price of 20,738 and closed the deal once after the March US Housing Data which saw the index increase 1%, you might have made $1,036. Note this example does not take into account spread.
The post Friday 28-03-2017 Lookback appeared first on Forex.Info.
The post Friday 28-03-2017 Lookback appeared first on Forex news – Binary options.
The post Friday 28-03-2017 Lookback appeared first on fastforexprofit.com, الفوركس بالنسبة لك.