U.S. Data Releases to Drive Today’s Forex Trading
February 17th, 2010 Posted in Daily Forex News, In-Depth Analysis
The U.S. is dominating today’s news releases for forex trading with quite a few expected today. Furthermore, the release of the FOMC meeting minutes is also likely to provide market volatility. Aside from the U.S, traders should keep an eye on the British Claimant Count Change and MPC meeting minutes for a direction for the GBP. These three data releases below will be the key factors in today’s forex trading.
Today’s leading news releases:
9:30 GMT – GBP – Claimant Count Change & MPC meeting minutes
- Provides insight into the current economic conditions of the British economy as well as an outlook on interest rates and the asset purchase facility program.
- Claimant count change measures the number of people claiming unemployment benefits. Unemployment numbers remain the most important indicator of economic recovery.
13:30 GMT – USD – Building Permits
- A good measure of future construction and therefore of economic recovery as the housing market was the hardest hit in the crisis.
- A better than expected result might help support the EUR as it will continue supporting risk appetite’s recent return.
19:00 GMT – USD – FOMC meeting minutes
- Traders should keep an eye on any comments regarding future interest rate increases as well the removal of the stimulus funds and tightening of monetary policy. Any sign of monetary policy tightening will likely support the USD.
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Tags: Claimant Count, Data Releases, fomc meeting minutes, Forex Trading, USD
