Forex News Trading Strategy for the 11th of October – 14th of October
This week started off slow with no significant data events on Monday, and holidays in the U.S., Canada, and Japan.
Tuesday is also on the quieter side. However, we will get the results of the latest Australian NAB Business Confidence during Asia, followed by the German ZEW Economic Sentiment during London. October’s ZEW survey is expected to improve over the September print, which came in on the soft side of expectations at 0.5.
Wednesday brings the release of the FOMC Minutes from the September meeting. As a matter of fact, traders will be looking for a more detailed description of Fed opinions, trying to find any clues as to what lies ahead for the central bank.
China returns from holiday this week and will release some key economic indicators, the first being the Trade Balance print for September on Thursday, expected to print at $53.0 billion. August’s trade surplus came in at $52.05 billion missing expectations of $58.2 billion. Exports declined for the 14th month by 2.8% y/y, while imports broke a 21-month string of declines with an increase of 1.5% y/y. Later during New York, we will see the weekly EIA Inventories report.
The RBA leads the way on Friday with the Financial Stability Report during Asia, followed by Chinese inflation data. You can expect Chinese CPI to come in at 1.6% y/y in September, after missing expectations in August. The August release fell short of the 1.6% consensus, printing at 1.3%.
Later to begin Friday’s New York session, we will see the latest Retail Sales and PPI from the U.S. Overall Retail Sales fell off in August, but are expected to bounce back in September of 0.6% on the back of strong unit auto sales. Moreover, excluding autos is also expected to bounce back for the month at 0.5%.
We will close out the week with the latest University of Michigan Consumer Sentiment report. The consensus for the October preliminary reading is 92.0
You can find other Forex news trading events taking place this week here: Forex Factory Calendar.
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