U.S. Factory Orders to Dominate Today’s Trading
November 3rd, 2009 Posted in Daily Forex News
09:30 GMT GBP – Construction PMI
•The indicator measures the level of a diffusion index based on surveyed purchasing managers in the construction industry.
•There is expected to be high volatility on the publication of the above data.
•Traders should pay close attention to the forex market as there is an opportunity for them to take advantage of fluctuations that are likely to follow this key release.
15:00 GMT USD – Factory Orders
•Measures the change in the total value of new purchase orders placed with manufacturers.
•Key indicator of American economic health.
•Positive results are likely to lead to a bearish U.S. Dollar.
17:00 GMT EUR – Bundesbank President Axel Weber Speaks
•Crucial, as he is both Bundesbank President and member of ECB Governing Council.
•The news is set to lead to volatile trading.
•Important as the speech is likely to lead to clues of future Euro-Zone interest Rates, and other aspects of Euro-Zone monetary policy.
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Tags: British Construction PMI, GBP forecast, GBP Prediction, U.S. Factory Orders, U.S. Factory Orders to Dominate Today's Trading, USD forecast, USD prediction, USD Trading
