US Dollar traders should almost certainly keep an eye out for abrupt shifts in risk sentiment, but a relatively empty US economic calendar leaves limited scope for major day-to-day shifts. The notable exception is Monday’s US ISM Non-Manufacturing report, which will shed further light on the state of the domestic services industry. According to 2008 estimates, the Services industry accounts for nearly 80 percent of US GDP. Suffice it to say, any noteworthy surprises in the highly-anticipated report could force major moves in the US Dollar and broader financial markets. Indeed, the ISM Non-Manufacturing survey tends to be one of the most market-moving events on release.
Outside of the ISM report, forex traders should keep a look out for a number of important global central bank interest rate decisions. Uncertainty surrounding Australian, British, and European central bank announcements may make for an interesting run of days across key forex pairs. It is near-impossible to predict how markets to react to any of these important announcements, and as such traders should be sure to control risk on open US Dollar positions.
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- 188Mainstream / dsX xml output COPYRIGHT 1999-2009 Mainstream Advertising, Inc. (http://www.mainstreamadvertising.com/) All rights reserved. vc3.17
- carsPKNSL
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