Wednesday promises to bring some key global announcements that will undoubtedly have an effect on certain currency pairs. Traders at online Forex brokers like eToro should keep reading to find out more about Wednesday’s key economic events and what they may do to various currency pairs around the world.
The US is due to make two key announcements tomorrow. First comes the Federal Budget Balance, which is the value between the federal government’s income and spending for September, with a drop of 52% predicted. Following this US economic date we will hear the US Import Prices report, which is also expected to fall. The price of imported goods and services purchased domestically in the US is expected to drop by 6-7%.
With the May Day Bank Holiday taking place in the UK on Monday you may be forgiven for thinking that the world’s Forex markets will grind to a halt, however the Forex markets are still open this bank holiday Monday. It’s not only the UK that has a public holiday on Monday either. Japan also has public holidays next week, but their public holiday lasts until Wednesday with the Japanese markets reopening on Thursday.
Even with the UK and Japan on holiday, the world’s Forex markets will still be making moves and there are some key events which will make an impact on the price of currency pairs at online Forex brokers such as 4XP.
There are numerous events taking place across the world tomorrow which will have an impact on global Forex markets. As these events can play an important role in raising or lowering the value of currency pairs, we have listed Friday’s Key Global Events to give your trading an edge ahead of the weekend.
Traders at Spread Co and other online Forex brokers across the globe could benefit from events focussed around JPY, USD, EUR and CAD currency pairs, which is why we are keeping you up-to-date with this vital information.
