U.S. Forex Brief-Friday USD Trading Preview - Forex News by FX Leaders

U.S. Forex Brief-Friday USD Trading Preview

Posted Thursday, November 2, 2017 by
Shain Vernier • 2 min read

Once again, the Friday session is nearly upon us. It has been a big week for the USD, highlighted by Monday’s indictment of Trump campaign advisor Paul Manafort and Wednesday’s statements from the Federal Reserve. If nothing else, it has been great theater.

 

USDThe Fourth Quarter Prospects For The USD Are Coming Into Focus.

 

The USD has fared relatively well across the majors amid the charged news cycle. I look for Friday’s session to be an active one, as there has likely been a considerable influx of institutional money coming into the markets due to the news.

Will the big boys buy or sell the greenback tomorrow? It doesn’t matter much to short-term traders. All we need is some volatility to pounce on.

 

Upcoming Events: Next 24 Hours

Here are some of the upcoming events for the rest of today, the overnight, and pre-Friday U.S. session hours:

  • President Trump to Announce FED Chair nominee

  • Australian Retail Sales (Sept.)

  • China Services PMI (Oct.)

  • Canadian Unemployment (Oct.)

  • U.S. Unemployment (Oct.)

In addition, several members of the FED are scheduled to speak including Jerome Powell, the perceived nominee for FED Chair.

 

Overview

Today has been an active one across the majors. Thus far the USD has posted a few significant trading ranges:

Pair                         Range

AUD/USD                  57

EUR/USD                  75

GBP/USD                238

USD/CAD                  70

Currently, we have several live trades in progress over at the signals page. With members of the FED scheduled to speak tomorrow, as well as the U.S. and Canadian employment metrics, Friday is set to be an active session for many of the majors.

 
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About the author

Shain Vernier // US Analyst
Shain Vernier has spent over 7 years in the market as a professional futures, options and forex trader. He holds a B.Sc. in Business Finance from the University of Montana. Shain's career includes stretches with several proprietary trading firms in addition to actively managing his own accounts. Before joining FX Leaders, he worked as a market analyst and financial writer.
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