As always, the beginning of the month is the time of a bundle of important data for the United States: 1 and 3 October – reports on the ISM index in industry and services; 3 and 5 October – employment reports – from ADP and official report (nonfarm).
The US economy is in strong shape, and solid reports could trigger a new wave of dollar growth. The dollar is growing strongly – especially to the yen.
However, European currencies can show persistence – the pound looks the strongest at the moment. Any weakness in the data could play against the US dollar.
The news of Canada’s readiness to join the new NAFTA agreement with Mexico and the United States, modified in favor of the United States, at the request of Trump plays in favor of the dollar.
By pound: Sell at a break down of 1.2780.
The alternative: Buy in the breakout of 1.3220 up.
The material has been provided by InstaForex Company – www.instaforex.com
Trading plan 10/01/2018
Overview: A week of important news in the USA.
As always, the beginning of the month is the time of a bundle of important data for the United States: 1 and 3 October – reports on the ISM index in industry and services; 3 and 5 October – employment reports – from ADP and official report (nonfarm).
The US economy is in strong shape, and solid reports could trigger a new wave of dollar growth. The dollar is growing strongly – especially to the yen.
However, European currencies can show persistence – the pound looks the strongest at the moment. Any weakness in the data could play against the US dollar.
The news of Canada’s readiness to join the new NAFTA agreement with Mexico and the United States, modified in favor of the United States, at the request of Trump plays in favor of the dollar.
By pound: Sell at a break down of 1.2780.
The alternative: Buy in the breakout of 1.3220 up.
The material has been provided by InstaForex Company – www.instaforex.com
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