A quiet day expected ahead
Skerdian Meta • 2 min read
Goodmorning to all FXML followers and wish you an easy and profitable start of the week. In fact, we started the week last night when our AUD/USD buy forex signal hit the take profit target a couple of hours after the Tokyo session started. We opened a sell forex signal in NZD/USD a while later, hoping the retrace up would be over.
Today is expected to be pretty quiet, after a hectic Friday with lots of price action. The US consumer inflation report (CPI) played its part on Monday´s USD appreciation, but the main reason was the market sentiment, because the details of the CPI numbers weren´t really strong.
Today the economic calendar is totally yellow. Remember that when the events in the economic calendar are in yellow they are low tier, which are not expected to have an impact on the forex market. When the events are in orange, then they are semi-important and might move the forex market, depending on the market sentiment and the volatility at the time of release and when the events are in red, then they are pretty important.
As I said above, the economic data scheduled on the calendar today is all yellow and its impact is expected to be very limited. The British Rightmove house price index, the EU current account, the US NAHB housing market index or the Australian economic leading index are all relatively insignificant data pieces and that´s why they´re in yellow, so they´re not expected to move the market around. Keep in mind though, the market sentiment has been pretty strong lately, so it might kick in at any time and drive the market crazy. We´ll post another update soon regarding market sentiment, so stay tuned.