In the FBS Digest, coming up this week:
- Why being a trader makes you cool
- We need your vote! The choice is yours
- Will the kiwi stop its rally?
Being a trader sounds proud
Being a trader means not only trading on Forex and earning.
It also means being a part of a serious and very impressive community.
Do you know how much people earn from trading?
Why Forex can become your key to freedom? Read on and let’s see how cool it is to be a part of the trading world.
Weekly Economic Calendar
- February 5, 05:30 MT time – The RBA rate statement
- The encouraging comments by the Reserve bank of Australia will boost the AUD.
- February 6, 23:45 MT time – New Zealand’s jobs data
- If the level of employment change is higher and the unemployment rate is lower than the forecasts, the New Zealand dollar will go up.
- February 7, 14:00 MT time – Monetary policy summary by the Bank of England
- The supportive tone of the BOE statement will help the GBP to rise.
- February 8, 15:30 MT time – Canadian jobs data
- If the level of employment change is greater and the unemployment rate is weaker than the expectations, the Canadian dollar will strengthen.
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- How to trade without losses? Golden rules
- The win-win strategy for beginners
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FRESH ANALYTICS – Will the kiwi stop its rally?
Last week turned out to be bullish for the New Zealand dollar.
The antipodean currency rose to its December’s highs, testing the ground above the 0.69 level. And you’ve probably guessed why.
The dovish tone of the Federal Reserve on Wednesday weakened the greenback (the US dollar) and, therefore, made other currencies rise.
In addition, the highly anticipated trade talks between the US and China on January 30-31 resulted in positive progress, as the Chinese officials agreed to buy more US goods.
The sides will continue their negotiations in February.
As the kiwi (the New Zealand dollar) is a risk-weighted currency, this news was highly appreciated by traders.
More updates on the positive progress of the trade talks will move the NZD further up.
Vice versa, the uncertainties will pull it down.
But let’s not forget about the local factors.
Next week New Zealand is awaiting the levels of employment change and unemployment rate.
Last time the actual figures brought positive momentum to the NZD.
If it happens again, the currency will rise to the last year’s highs.
Otherwise, we may expect the fall of the kiwi.