jobs data ahead Thu Dec 5, 2013 11:56am EST * ECB leaves rates unchanged; inflation to stay below target * U.S. 3rd-quarter growth revised up, jobless claims fall * Norwegian crown hits four-year low versus euro By Wanfeng Zhou NEW YORK, Dec 5 (Reuters) – The euro rose to a one-month high against the dollar on Thursday after the European Central Bank left a key interest rate unchanged, disappointing some traders who had hoped for more aggressive easing measures in the euro zone. The ECB decision overshadowed stronger-than-expected data on U.S. third-quarter growth and weekly jobless claims, which briefly lifted the dollar across the board.
Source: .. [read more] http://www.reuters.com/article/2013/12/05/markets-forex-idUSL2N0JK1CP20131205
“However, given the extent of the slump in residential and commercial construction over more than three years, the expansions recorded in October and November are from a low base and we are still some months from a convincing recovery.” USD/JPY traded flat at 101.80, with the market awaiting U.S. November jobs data in the United States. The leading indices data for October is due at 1400 local time (0500 GMT with a reading of 109.9 forecast, along with initial trade data for the first 20 days of November at 0850 local time (2350 GMT). Overnight, the dollar traded largely lower against most major currencies, buoyed in part by strong growth and jobless claims data in the U.S. though pushed down due to a European Central Bank decision to forgo rolling out negative interest rates.
Website and blog owners too can install Forex news widget without much hassle. A source from ForexMinute says that apart from the latest brokers reviews and Forex news, his portal also brings the latest Bitcoin news which helps traders trade the digital currency competitive and get better returns. Bitcoin has caught the attention of traders as it is a trading asset that assured higher returns than other trading assets. In fact, this year so far, there has been significant fall in the prices of almost all commodities; Bitcoin is bound to become preferred among traders.
Of course, expectations and times of major news prints can be found on the DailyFX Economic Calendar: DailyFX Economic Calendar Once the news prints, keep a keen eye on the price action immediately afterward. I often keep an eye for a quick counter trend move that moves to a near level of support or resistance that quickly begins to fade. This tells me that the hot hands that jumped in on the print dont have enough conviction to hold the move. From there, you can look to enter of a clear resumption of the trend and you can set a stop off the news extreme and look to set a target within the trend. Happy Trading!