U.S. Forex Brief-Friday USD Trading Preview
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.
The 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.
Today has been an active one across the majors. Thus far the USD has posted a few significant trading ranges:
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.