Big Fundamental day today!!!!
We have a lot of announcement coming out today effecting many currencies, so let us take some time to review those and the currencies they effect. We often talk about how fundamental announcements affect the market and how they help us determine the certain direction of some currencies. Today starting with Australia we have the unemployment rate release kicking off the Asian pacific session. Later that day as Europe wakes up we have many announcements that are expected to have an impact on the market. The GBP has 3 important announcements coming out today as well. Official bank rate which is the interest rate from the national bank is expected to be released at 12:00 GMT. Affecting the Euro we have the minimum bid rate and the ECB news conference where every word spoken will be analyzed 100 different ways. Also from Canada we have the housing starts then to end the trading day we have the unemployment claims coming from the US those being released at 13:30 GMT.
All these announcements tell us one thing, appears to be a volatile market day which should make it for an interesting trading day. We should have some interesting nuggets from today to talk about on Friday.