This week is going to be an extremely busy week as we have 13 news releases to trade. I’ve to warn you upfront that in a news driven week such as this one, market tends to be indecisive and we could see wild swings as different surprises dominate market sentiment… This is going to be one of those weeks that we follow the trade plan strictly and use tight TP & SL…Of course, it is important to mention that August 2 (Tuesday) will be the deadline for Congress to raise the debt ceiling in U.S., this is the focus of the early week and it has a very profound effect to the Forex market, therefore I’d suggest that everyone pay close attention to it.
Here’s the list of news for the week:
Monday August 1, 2011 – 4:30am EDT – UK Manufacturing PMI
Monday August 1, 2011 – 10:0am EDT – US ISM Manufacturing PMI
Tuesday August 2, 2011 – 12:30am EDT – AU RBA Interest Rate
Tuesday August 2, 2011 – 9:30pm EDT – AU Retail Sales
Wednesday August 3, 2011 – 4:30am EDT – UK Services PMI
Wednesday August 3, 2011 – 8:15am EDT – US ADP NFP
Wednesday August 3, 2011 – 10:00am EDT – US ISM Non-Manufacturing PMI
Wednesday August 3, 2011 – 6:45pm EDT – NZ Employment Change
Thursday August 4, 2011 – 7:00am EDT – UK BOE Interest Rate
Thursday August 4, 2011 – 7:45am EDT – EU ECB Interest Rate
Thursday August 4, 2011 – 8:30am EDT – EU ECB Press Conference
Friday August 5, 2011 – 7:00am EDT – CA Employment Change
Friday August 5, 2011 – 8:30am EDT – US NFP Employment Change
…once again, I’d warn everyone to follow strict rule this week, as market will change on a dime without warning.
Also we should stay away from any pre-news trading UNLESS I recommend it…
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