Market Brief November 9th: Initial Jobless Claims from the U.S.

09 November, 2017 - 07:43AM

Germany

EUR, 07:00 a.m. GMT, German Trade Balance (Sep) –Trade Balance gives us a good idea about the difference between exported and imported goods for the month of September. If the reading is positive, this means that more goods were exported than imported. Projections for this month are for trade balance to remain the same at 21.6B. If the actual number is higher than expected, this should be read as a bullish factor for the euro, while a weaker result could drive down the price.

United States

USD, 13:30 p.m GMT, Initial Jobless Claims – the number of people who filed for unemployment insurance are projected to have increased during the past week at 231K versus 229K for the period before. If the actual reading today shows us an increase, this should be taken as a bearish sign for the US dollar. A weaker number could strengthen the currency.

Canada

CAD, 13:30 p.m., New Housing Price Index (MoM) (Sep)- the index is a leading indicator of health in the Housing Sector of Canada measuring the change in selling prices for new homes. Expectations are for a slight increase at 0.2% for the month of September versus 0.1% for the previous month. A higher than projected reading should be read as having a positive impact on the Canadian dollar, while a lower number should be taken as a bearish sign.

 

Wishing you Happy and Successful Trading!

 

Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances,

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