As you’ll remember from one of my previous articles, we discussed how interest rates can impact your forex trading.
So I thought it wise to remind you all that this week is a very busy week on the worldwide interest rate announcements circuit.
Australia has already announced a cut in their interest rates of 100 basis points (i.e. 1%) .
New Zealand will announced their latest cuts on Thursday morning local time. Predictions there suggest a cut of between 100 and 150 basis points (i.e. 1 & 1.5%).
Also on Thursday (local time) the European Central Bank will announce it’s latest cut, expected to be between 50 and 75 basis points.
These are just some of the announcements this week that will impact anyone trading currency, especially the AUD, NZD and EUR.
Remember – keep yourself informed about this kind of news in the market. With the likes of Google News you can find yourself some good news worthy sites to receive updated alerts from.
Also remember that these kinds of announcements can make the market move in ways that the Forex Robot software might not be expecting. If you’re a beginner, these days could be good days to take a day out from the market. And if you’re a pro and have some flexibility in your trading software, keeping informed of this kind of news could be the difference between making a profit and making a killing.
Happy trading.
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