Forex Signals Brief for Sep 28: Busy Day of European Data
Rowan Crosby • 2 min read
Markets have clearly been focused on the US in recent times, but today it appears the attention will be on Europe on Friday.
While the USD rallied yesterday, the majority of the major data out today will be coming out of Europe.
Across the Eurozone, there are a number of CPI and GDP releases, with the highlight being Eurozone CPI. We also get to see German employment, which is always an important factor as it is the powerhouse economy of Europe.
Meanwhile, the UK has GDP out today where we are expecting to see the YoY figure come in at 1.3%. Which is certainly on the lower end of the major economies at the moment.
During the US session, the USD/CAD will be in focus as the Canadians release GDP data of their own.
It looks to be a data heavy session and this can sometimes make for tricky trading conditions as things can be very stop-start.
Forex Signal Update
The FX Leaders Team finished two and two, thanks to a couple of good signals in gold.
Gold – Gold has continued the sell-off and has been pretty weak over the last few sessions. We’ll be looking for more opportunities to go with the trend.
Bitcoin – Active Signal
Bitcoin is having another run at the $6,800 resistance and perhaps this might be the moment for it. The higher low appears to have held for now and price is strong. Friday traditionally is a busy day for BTC so watch this one closely today.
Oil – Pending Signal
Oil has been on the march and there continues to be more headlines coming out around supply issues. With some experts suggesting that they wouldn’t be shocked to see $100 oil once again. Either way, we are looking for some long opportunities at the moment.