This Week's Trading Opportunities




Monday, February 3rd at 15:00 GMT


US ISM Manufacturing PMI


This is the first important piece of the economic data which is going to give us more colour about the US economy. Remember, the previous number fell below the critical level of 50 and printed the reading of 47.2. The median estimate is for 48 while the average is 48.11. Morgan Stanley thinks which hold 1st ranking in terms of predicting this number thinks that the reading could be 47.8.


The bar is fairly low for the US ISM manufacturing number and any reading below 50 strengths the argument that the US economy needs more support from the US Fed.


Economists believe that the number may not thrill investors that much because of the on-going Coronavirus, which is bound to have a detrimental impact on the US economy.


Will the economic data drive the dollar?



Tuesday, February 4th at 3:30 GMT


RBA Rate Statement


The RBA cut the interest rate three times last year, in June, July and October, which brought the interest rate at a historic low level of 0.75 per cent. The RBA has a clear mandate; it wants to push unemployment even lower before inflation starts to move higher.


Expectations are high for a rate cut, and perhaps, this could be the best strategy which the bank has at its disposal if it wants to lower the unemployment rate and bring it closer to its target.


The reality is that inflation numbers have started to move higher.


The latest inflation figures have confirmed that the future of housing is an important factor for the upcoming RBA interest rate decision as the inflation has ticked high and this is despite the fact that the housing cost is soft.

Can we see the Aussie falling further if the bank cuts the rate? Finally picking up some steam?



Friday, February 7th at 13:30 GMT


US NFP Data


Consumers are holding up the economy, and the evidence of this was seen in the recent surge of the consumer confidence data. But of course, this confidence is backed by an increase in wage numbers and if they start to grind lower or halt then the U.S. economy would be in a dire state.

It is in this essence that traders are going to pay close attention to fine details of the US NFP number and not just the overall data.



Will the US NFP set a new tone for the equity markets?


Tuesday, February 4th AMC


Snap Earnings Release


Investors are hoping that Snap is going to hold the momentum and it is keeping millennials and Gen Z engaged on its platform. If the company delivers on this, then there is no doubt that advertisers won't be convinced. They should spend top dollar amount on its platform, and this should boost its earnings. The user metrics have improved, and investors are going to pay more attention to this matric with advertiser spending.

Will Snap surprise investors?




0 views
Logo

MONEY
MOVING

by WooHoo Ireland

+353-214-651-000

Woooo Fx Education

Camden Street Lower, St Kevin's, Dublin 2, Ireland D 02 XE 80 | +353-214-651-000 |info@woohooai.com

currency hedger logo_small.png
woohoo fx eu_gdpr_compliant_logo.png

Trading in leveraged currency contracts comes with substantial risk. You must be aware of these risks before opening an account to trade. High leverage amplifies gains as well as losses, leading to potential loss of the entire account balance. Trading in leveraged currency contracts may not be suitable for every investor. Never speculate using money that you cannot afford to lose.

© 2019 by WoOHOo Fx. Proudly created with WoOHoO AI Ireland

  • Facebook
  • Twitter
  • LinkedIn
  • Instagram