The Week Ahead: 23rd - 27th April.
This week opens on Monday with nothing too substantial. We have the Canadian Governer Poloz speaking in the evening which is worth a watch, I doubt this shall have much consequence on the US Dollar market. Also there is the US Existing Home Sales results which could create some tensions but Monday is looking like a quiet day regardless.
Tuesday's main release is the US Consumer Confidence result, this has potential to dip markets powerfully. It is forecast for a small decline from last month but this shouldn't do too much to the markets I reckon. We also have US New Home Sales, showing a slight increase but this really won't have much influence. So like Monday data releases shouldn't do much to market fluctuations unless we do indeed see a big dip.
Wednesday is actually even quieter that the previous two! The Governor of the BOC Mr Polov is speaking again which will be worth keeping an eye on but I doubt it will cause much influence on them Gold markets movement. And apart from this there is anything worth watching, bit disappointing I know.
Things heat up a little on Thursday, we have a couple of releases from the US which could effect the market quite strongly. There is the US Core Durable Goods Order, forecast is showing a potential 0.5% decline which is pretty substantial and could be where we see the first substantial shift for the yellow metal during the week ahead! The later we have their Durable Goods Order, which also is expected to show quite a big fall. The lastly the US release their Unemployment Claims, with a 3k expected increase from last week.
By Thursday end potentially we could of seen a movement within the Gold market, with this type of potential data the yellow metal might experience further rallies!
Friday could be the most influential day of the week, we have big events taking place in both the US and Japanese markets. Early on we have the BOJ press- conference, Monetary Policy statement and Outlook Report. These will create a volatile period in the forex markets, easily knocking onto the Gold market if unexpected results come up either complementing or damaging the Yen against the Dollar. Then later on we have one big event coming from the US, their Advance GDP quarterly, then their Advance GDP Price Index and Employment Cost Index's are released. Then later there is the US Revised UoM Consumer Sentiment. These are all gonna be important, with the Advanced GDP taking priority, it is looking to be almost 1% down from the last quarter. This is a big shift and really cold cause some waves in the forex and commodities markets!
Peace.
The Naive Trader.
Forex Factory, 2018.
Tuesday's main release is the US Consumer Confidence result, this has potential to dip markets powerfully. It is forecast for a small decline from last month but this shouldn't do too much to the markets I reckon. We also have US New Home Sales, showing a slight increase but this really won't have much influence. So like Monday data releases shouldn't do much to market fluctuations unless we do indeed see a big dip.
Wednesday is actually even quieter that the previous two! The Governor of the BOC Mr Polov is speaking again which will be worth keeping an eye on but I doubt it will cause much influence on them Gold markets movement. And apart from this there is anything worth watching, bit disappointing I know.
Things heat up a little on Thursday, we have a couple of releases from the US which could effect the market quite strongly. There is the US Core Durable Goods Order, forecast is showing a potential 0.5% decline which is pretty substantial and could be where we see the first substantial shift for the yellow metal during the week ahead! The later we have their Durable Goods Order, which also is expected to show quite a big fall. The lastly the US release their Unemployment Claims, with a 3k expected increase from last week.
By Thursday end potentially we could of seen a movement within the Gold market, with this type of potential data the yellow metal might experience further rallies!
Friday could be the most influential day of the week, we have big events taking place in both the US and Japanese markets. Early on we have the BOJ press- conference, Monetary Policy statement and Outlook Report. These will create a volatile period in the forex markets, easily knocking onto the Gold market if unexpected results come up either complementing or damaging the Yen against the Dollar. Then later on we have one big event coming from the US, their Advance GDP quarterly, then their Advance GDP Price Index and Employment Cost Index's are released. Then later there is the US Revised UoM Consumer Sentiment. These are all gonna be important, with the Advanced GDP taking priority, it is looking to be almost 1% down from the last quarter. This is a big shift and really cold cause some waves in the forex and commodities markets!
Peace.
The Naive Trader.
Forex Factory, 2018.
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