The dollar is gaining strength before the statistics
27.08.2015
On Thursday afternoon, the main currency pair continues to decline, ahead of key US statistics and rise in volatility.
The euro/dollar fell for a third day in a row, and not being able to gain a foothold on the heights of summer right under 1.17. The current price of the instrument is 1.1289. Ahead are too many statistics to trade right now, without having the facts.
In the afternoon, the US will come out with a series of releases that are likely to provoke new turbulence in the market. Noteworthy is the data on the number of applications for receiving unemployment benefits for the week - the average monthly value here is quite stable, this time the figure of 277.2 thousand is expected. At the same time data will come out on repeated requests for the same benefits.
But the interesting thing will come later. Today a report on the revised US GDP for the second quarter is being prepared to be published. It is expected that the economy in the past three months increased by 0.6% q/q and 3.2% y/y. Any deviation from the expectations will effect the market quotations.
However, we remember well how many times Washington has revised GDP data for January-March, and it is shocking how much the final figure is different from the original. Where the truth is, nobody can tell.
This evening the annual Economic Symposium will be held at Jackson Hole. Before this meeting of the key monetary policy was an important event - the investors were catching every comment and then reflected it in the market prices of traded currencies. This year, there is no hype around Jackson Hole, but that does not mean that the news flow will remain calm.
RoboForex Analytical Department
The euro/dollar fell for a third day in a row, and not being able to gain a foothold on the heights of summer right under 1.17. The current price of the instrument is 1.1289. Ahead are too many statistics to trade right now, without having the facts.
In the afternoon, the US will come out with a series of releases that are likely to provoke new turbulence in the market. Noteworthy is the data on the number of applications for receiving unemployment benefits for the week - the average monthly value here is quite stable, this time the figure of 277.2 thousand is expected. At the same time data will come out on repeated requests for the same benefits.
But the interesting thing will come later. Today a report on the revised US GDP for the second quarter is being prepared to be published. It is expected that the economy in the past three months increased by 0.6% q/q and 3.2% y/y. Any deviation from the expectations will effect the market quotations.
However, we remember well how many times Washington has revised GDP data for January-March, and it is shocking how much the final figure is different from the original. Where the truth is, nobody can tell.
This evening the annual Economic Symposium will be held at Jackson Hole. Before this meeting of the key monetary policy was an important event - the investors were catching every comment and then reflected it in the market prices of traded currencies. This year, there is no hype around Jackson Hole, but that does not mean that the news flow will remain calm.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.