This week is going to be another volatility-charged week.
Here are the key events that I will be looking at:
- Monday, 9:30PM – ECB Draghi’s Speech
- Thursday, 2:00AM – Fed Interest Rate + FOMC Speech by Yellen
- Thursday, usually around late morning/early noon – BOJ Rate Release
- Thursday, 4:30PM – SNB Rate Release
- Thursday, 8:00PM – BOE Rate Release
(All in GMT +8, Singapore time)
So if you’re trading on Thursday, do take note of the above events and trade safe.
I will be monitoring if the USD will still give way to the downside, following the assumption that whatever expectations of a rate hike has already been priced in.
If it hikes, this will be the first rate hike of 2017, with the previous hike on Dec 14 2016. I am personally expecting a 25bp increase.
On the JPY front, I will be looking for bearish opportunities within the JPY cross pairs, especially GBP/JPY – which has the potential to free fall on the Daily timeframe.
May the pips be ever in your favor.