Sign up with trusted broker in Australia and receive weekly trading news: axitrader.com/au?promocode=855942
As discussed in a post yesterday, the rise in oil price will sparks fire in different currencies and markets. Today, let’s see the upcoming events that will affect the USD currency movement.
USD
Q1 GDP data of United States is the main concern for this currency and the financial market. The annualized preliminary estimate is positive 1.8% to the previous quarter, which is 0.4% lesser than the Q4 2018.
You can refer the date and time here: 26 APR 2019, 8.30am local time
Most of the data, such as PMIs, jobless claim were reported better than expected, as such, we will expect the Q1 GDP data will be higher than expected as well. This might benefit USD as Fed might resume the plan to raise interest rates in 2019.
However, from the technical analysis, the price is now stand at around 97.00 to 97.10, this is a super strong resistance since AUG 2018. If the data is lower than expected, the price might retrace from this level to around 96.20 (S1) then 95.85 (S2).
As a result, this report will be the main force to push the currency to move in this low volatility environment. If you are trading currency pairs, you might need to observe the data for other currencies as well.
Sign up with trusted broker in Australia and receive weekly trading news: axitrader.com/au?promocode=855942
As discussed in a post yesterday, the rise in oil price will sparks fire in different currencies and markets. Today, let’s see the upcoming events that will affect the USD currency movement.
USD
Q1 GDP data of United States is the main concern for this currency and the financial market. The annualized preliminary estimate is positive 1.8% to the previous quarter, which is 0.4% lesser than the Q4 2018.
You can refer the date and time here: 26 APR 2019, 8.30am local time
Most of the data, such as PMIs, jobless claim were reported better than expected, as such, we will expect the Q1 GDP data will be higher than expected as well. This might benefit USD as Fed might resume the plan to raise interest rates in 2019.
However, from the technical analysis, the price is now stand at around 97.00 to 97.10, this is a super strong resistance since AUG 2018. If the data is lower than expected, the price might retrace from this level to around 96.20 (S1) then 95.85 (S2).
As a result, this report will be the main force to push the currency to move in this low volatility environment. If you are trading currency pairs, you might need to observe the data for other currencies as well.
Sign up with trusted broker in Australia and receive weekly trading news: axitrader.com/au?promocode=855942