Trading Ideas - Unemployment Rate, Personal Consumption Expenditure, Personal Income - August 29th - Forex Forum

Hello everybody,
This is the last day of August. We have some interesting events today in the calendar.

9:00 GMT: Unemployment rate. The Unemployment Rate released by the Eurostat is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the European Economy. If the rate is up, it indicates a lack of expansion within the European lobar market. As a result, a rise leads to weaken the European economy. A decrease of the figure is seen as positive (or bullish) for the EUR, while an increase is seen as negative (or bearish).

12:30 GMT: Core Personal Consumption Expenditure - Prices Index. The Core Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average amount of money that consumers spend in a month. "Core" excludes seasonally volatile products such as food and energy in order to capture an accurate calculation of the expenditure. It is a significant indicator of inflation. A high reading is bullish for the USD, while a low reading is bearish.

12:30 GMT: Gross Domestic Product Annualized. The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. A rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.

12:30 GMT: Personal Income. The Personal Income released by the Bureau of Economic Analysis, Department of Commerce measures the total income received by individuals, from all sources including wages and salaries, interest, dividends, rent, workers' compensation, proprietors' earnings, and transfer payments. This figure can provide insight on the US employment situation. A high reading is positive for the USD, whereas a low reading is negative.

12:30 GMT: Personal Spending. The Personal Spending released by the Bureau of Economic Analysis, Department of Commerce is an indicator that measures the total expenditure by individuals. The level of spending can be used as an indicator of consumer optimism. It is also considered as a measure of economic growth: While the Personal spending stimulates inflationary pressures, it could lead to rise interest rates. A high reading is positive (or Bullish) for the USD.

12:30 GMT: Gross Domestic Procduct: The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. A rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.

I come back in an hour with the technical analysis...

We can try a speculative short term sell on EUR CAD (near a short term resistance and in a long term downtrend)


GBP USD and GBP JPY, just follow the trend. The trend is clear but don't forget the stop loss...