Forex Trading Week Ahead

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Forexyard

This week there are some major events and reports that will have significant impacts across the world’s Forex markets so we’re bringing you our selection of the most significant events. The Forex trading week ahead will see news from the US, the UK and the Eurozone that will play their part in the fortunes of currency pairs at Forex trading sites such as ForexYard.

On Tuesday morning we will hear news from the UK when the Bank of England regarding the UK’s annual inflation rate. Inflation has been on the rise in the UK during recent months thanks to a rise in the price of just about everything from fuel to shopping. However, even though the new 20% VAT rate is expected to push the UK’s CPI to 4% it is believed that inflation will remain at 3.3%.

Also on Tuesday morning we will receive news from Germany regarding their economic sentiment, which rose more than expected during December, climbing to 4.3. This encouraging news may be a benefit the the German economy but it will probably do little to assist the fortunes of the euro.

Wednesday brings us employment figures from the UK. These figures often play a big part in the fortunes of GBP currency pairs, with encouraging figures assisting starling. A small fall of between 1,000 and 1,500 claims for unemployment benefits are expected at 9:30 GMT on Wednesday.

In a contrast to the UK, the US’ unemployment figures have been on the rise over the past couple of months due to slow economic growth in the US. However, analysts believe that a slight fall is possible when the actual figures are released at 13:30 GMT on Thursday.

Later on Thursday at 14:30 the US will release its existing homes sales figures for December. Economists are speculating that due to the fall in property prices and mortgage rates a rise to $4.92 million is predicted.

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