Trading Strategy

What is it? It checks the change in the price of goods and services purchased by consumers.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

Usual Effect If the number is higher than the forecast, you can expect the EUR to rise.

When? October 30th all day.

Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.

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What is it? Governor Poloz is due to testify, along with Senior Deputy Governor Carolyn Wilkins, before the Senate Standing Committee on Banking, Trade, and Commerce, in Ottawa.

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.

Usual Effect If the announcement will hint towards higher interest rates, you can expect the CAD to rise.

When? October 29th at 4:15pm Eastern Time.

Trading Tip: This announcement can greatly affect the CAD, make sure to make your trades before.

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What is it? It's among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

Usual Effect If the announcement will hint towards higher interest rates, you can expect the NZD to rise.

When? October 29th at 4:00pm Eastern Time.

Trading Tip: This announcement can greatly affect the NZD, make sure to make your trades before.

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US stocks rallied yesterday ahead of the FOMC statement. Investors widely expect the Federal Reserve to end their quantitative easing program today. However, interest rates should remain the same. Earnings season has also been mostly positive and traders have welcomed results which have eased fears of an economic slowdown.

Asian stocks also moved higher across the region as European markets are higher today as attention has now turned to the FOMC statement at the completion of the Fed’s two day meeting.

Oil climbed after US data. The EIA will release data later today at 2:30pm GMT.

Gold is trading choppy as traders eagerly await the result of the FOMC Statement. If any hints towards raising interest rates are made we could see the metal drop below its support at 1,220.

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What is it? It checks the interest rate at which banks lend balances held at the RBNZ to other banks overnight.

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.

Usual Effect If the number is higher than the forecast, you can expect the NZD to rise.

When? October 29th at 4:00pm Eastern Time.

Trading Tip: This announcement can greatly affect the NZD, make sure to make your trades before.

Talk to us to get get FREE signals and start earning now: 

Other top stories:

5 Tips for Today's Trading - 29/10

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