Trading Strategy

What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is lower than the forecast, you can expect the USD to rise.

Ask us about our FREE financial advice program: 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook:   

What is it? As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? At 7:45am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.

Ask us about our FREE financial advice program: 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook:   

What is it? Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? At 7:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.

Ask us about our FREE financial advice program: 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook:   

What is it? It provides valuable insight into the bank's view of economic conditions and inflation - the key factors that will shape the future of monetary policy and influence their interest rate decisions.

When? At 7:00am Eastern Time.

Trading Tip: This announcement can greatly affect the GBP so make sure to follow it!

Ask us about our FREE financial advice program: 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook:   

Federal Reserve Chair Janet Yellen Said at todays’ testament that the U.S. economy is performing well, and told Congress that a rate hike at its meeting next month is a "live possibility."

Her remarks largely echoed the Fed's statement after a meeting last week that said the central bank will act if the economy and labor market continue to improve. The Fed has not raised its benchmark rate in nearly a decade and it has been near zero since the 2008 financial crisis.

Yellen told the House Financial Services Committee that if the economy advances as the Fed expects over the next six weeks, a rate increase at its December 15-16 meeting "will be a live possibility."

She added, however, "No decision at all has been made on that."

Job growth has slowed recently and the economy grew just 1.5% at an annual rate in the third quarter. But that largely was a result of weak exports due to the strong dollar, while consumer spending, which means more than two thirds of the economy has increased at a healthy rate.

"At this point, I see the US economy as performing well," Yellen told the committee during her semiannual testimony on financial regulation. "Domestic spending has been growing at a solid pace."

Ask us about our FREE financial advice program: 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook:   

1. Wall Street opened slightly higher on Wednesday after a report showed that the private sector added more jobs than expected in October.

The Dow Jones industrial average (DJI) was up 34.61 points, or 0.19 percent, to 17,952.76. The S&P 500 (SPX) gained 2.76 points, or 0.13 percent, to 2,112.55 and the Nasdaq Composite index (IXIC) added 11.08 points, or 0.22 percent, to 5,156.20.

2. The dollar pushed higher against the other major currencies on Wednesday, as the release of strong U.S. employment and trade balance data boosted optimism over the strength of the economy.

The dollar was higher against the yen, with USD/JPY up 0.26% at 121.38.

3. U.S. private employers added 182,000 jobs in October, a tick above economists' expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 180,000 jobs.

Private payroll gains in September were revised down to 190,000 from an originally reported 200,000 increase.

4. The U.S. trade deficit narrowed sharply in September to its lowest level in seven months as exports rebounded, a tentative sign that the worst of

the drag from a stronger dollar may be over.

The Commerce Department said on Wednesday the trade gap fell 15 percent to $40.8 billion, the smallest deficit since February. Lower crude oil prices also helped to curb the import bill.

5. Euro zone private business growth remained tepid last month but activity in China's services industry expanded at its fastest pace in three months, easing concerns about persistent weakness in its economy, surveys showed on Wednesday.

There was little sign the European Central Bank's massive stimulus program was boosting economic activity or price pressures in the bloc, and the survey showed firms returned to price-cutting last month to drum up trade.

Ask us about our FREE financial advice program: 

Other Top Stories:

Will Twitter's Share Crash?

Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook: