Economic Calendar | Can the USD resist while the AUD rises?

This week will see some interesting market events, so here’s a heads up for all you intrepid traders out there. If you take a look at your economic calendar, you’ll see that the worth of the USD is going to see some changes, as personal income and spending will drop. This, alongside nonfarm payrolls dropping and the fact that the number of employed people within the U.S. is expected to fall as well, means that some significant fluctuations are most definitely going to occur and that there will be plenty of opportunities to make significant profit.

Moving on to the euro, economic calendar shows the manufacturing PMIs of several countries, such as Spain, Italy, France and Germany, as well as the Eurozone, will remain within the bullish range, or, in other words, above 50 points. The same can be said for the services PMI of Spain and the Eurozone, which will remain more or less unchanged from last week. Unemployment indicators show that the rate will rise in Spain, but fall in Germany, leaving the euro’s worth at largely the same levels as last week, maybe leaning slightly more towards a bullish week for it, when all is said and done.

Economic calendar also shows that the GBP may see a drop in value, as the manufacturing PMI, the construction sector, consumer credit and mortgage approval indicators show a downward trend. Furthermore, the decisions made by the Bank of England will remain the same as indicated, leading to a slightly weaker pound sterling. The AUD, however, could see a rise. The interest rate is expected to stay at 2%, the retail sales in the Australian market will go up slightly, while the trade balance should move towards more positive numbers, leading to a bullish week for the AUD.

Economic Calendar | What’s hot today?

How to profit?

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Author: Ben Prescott
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