The Upcoming Trading Week [May 2, 2021]

To us full-time traders Sundays are our Monday's, I say that because Sunday is where all the preparation happens to kick start the week in a primed and prepared mindset.


Before we begin this post I just want to remind you that we have released, not too long ago, a free course on the way we day trader forex, commodities and indices and you can access it right now by clicking here.


MAIN MOVERS THIS WEEK:


Monday kicks of with bank holidays in China, Japan and the United Kingdom hence volatility could be lower than normal for a Monday, but you never know what the market will do so we shouldn't lower our guard in any way. - However we do have the Fed chair, Jerome Powell speaking at an online conference about community development late in the NYC session.


Friday we get the big April US jobs report (the NFP) and ISM manufacturing/services is due for release on Monday, analysts expect strong readings for both of these events.


A quiet week awaits us in the euro area, where German industrial production figures for March, a speech from Lagarde and the EU economic forecasts.


The Bank of England (BoE) meeting is not expected to bring significant policy changes, but it is worth keeping an eye on the Scottish election (as well as UK local elections) on Thursday which could have important implications for the likelihood of another Scottish independence referendum and trigger some volatility in the GBP.


In China we are looking forward to the April Caixin PMI, that could show a rebound due to stronger US exports.


The Royal Bank of Australia (RBA) releases its rate statement on Tuesday and we will have a busy morning on Wednesday with employment news from New Zealand and a speech from RBNZ governor Orr.


*It is important to know when these events are coming out in your local time as they can provide sharp quick moves but also changes in trends, by knowing when they come out you can apply the primed traders idea of trading what you see and letting the charts guide you to quick and possibly big profits!


IN POINTS

  • US corporate earnings

  • NFP Employment data

  • Bank of England meeting

  • Elections (Scotland & England)

  • Central bank speakers

  • Bank holidays on Monday in the UK, China and Japan

See the upcoming economic calendar by clicking here.


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