Trading advice, musings and updates. Stay ahead of the rest with The Hub.
Preparation is Key
Whilst learning to trade one of the most important aspects you need to be aware of is that of preparation.
It was once famously said that by failing to prepare we are preparing to fail.
Well let us help a bit and guide you through the important events during the week ahead.
A busy start
We came in this morning on what traditionally is a quiet post-Superbowl day to news that the German coalition talks had faltered again over the weekend. With little chance to wake up the Dax was seen a point lower, the Bund reacted by opening down as well and trading came to life with a bang. It seems that with the current climate in place, news moving markets around and volatility picking up a bit we could be for another interesting trading week. Let’s hope anyway.
Figure wise Monday actually starts fairly subdued. We see some Services PMI data on the wires first thing this morning, including the UK numbers. Other than that we have to wait until the US session for some more important data in the form of Non-Manufacturing PMI releases.
Late into the afternoon we see ECB’s Draghi speaking.
Data quietens but don’t expect the market to
Overnight we see the Australian Central Bank release their Interest rate decision alongside a statement on Monetary Policy.
Tuesday sees no data of any import hitting the wires. These days, however, can be very interesting to see the markets true intent of direction without any interference so don’t be fooled into thinking it will be a quiet day. Recent moves do not indicate that that is a likely outcome.
Wednesday sees some UK and US Housing data released. Not majorly market moving again but then later in the afternoon we see some FED speakers around. Notably Dudley and Evans are speaking.
Bank of England Rate Decision
Thursday sees some ECB activity early in the trading session. We have the ECB Economic bulletin released as well as hearing ECB’s Weidmann speaking.
We then head to the main event of the day in the Bank of England Rate setting decision. Most, of course, are expecting this to be unchanged having seen a fairly long-dated forecast from Carney very recently. That said one must always be prepared for any surprises especially in the voting pattern which for now is expected to be 9-0 in favour of unchanged.
The afternoon sees more FED speakers in the form of Harker and Kashkari.
A needed weekend
Friday sees some UK data in terms of Industrial and Manufacturing Production and that brings the week to an end with no US data in the afternoon. Probably for the best as with the markets finally moving the way that they are we’ll all need the weekend by that time!
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