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Banc De Binary’s Ahead Of The Week Report: 2nd – 6th June

Starting with Monday the 2nd June. We start the week in the U.K with the release of Manufacturing PMI figures for May. U.K. manufacturing exceeded expectations in April as output surged to an eight-month high and exports increased. This month, more good news is expected with numbers forecast to increase from 57.30 to 58.4. Traders should, therefore, look out for trading opportunities on Sterling and the FTSE100 index. Also expected are U.S. ISM Manufacturing PMI figures. Positive figures so far this year suggest second-quarter economic growth, so we look to a further positive reading which may open up PUT opportunities on the EUR/USD.

On to Tuesday and we move to Europe for the latest Consumer Price Index flash estimate. Eurozone inflation fell short of economists' predictions for the second month in a row, leaving the threat of deflation hanging over the European Central Bank. Expectations are that ultra-low inflation may gain a grip in the Eurozone, spurring consumers and businesses to delay purchases so it looks increasingly likely that the ECB will take fresh easing measures. This would prompt Banc De Binary analysts to look for tradable opportunities on the Euro pairs.

We move to Wednesday and the release of the U.S. Trade Balance figures. The U.S. trade deficit narrowed to -$40.4bn in March as exports grew to the highest in nine months, signaling continuing U.S. growth. Economists expect the trade deficit will keep narrowing this year as exports, propelled by an energy production boom, grow faster than imports. So, there’s a strong possibility we’ll see positive trade balance numbers, prompting Banc De Binary analysts to look at PUT opportunities on the EUR/USD.

On Thursday, it’s over to Canada for April’s Building Permits data. Canadian building permits fell unexpectedly in March to the lowest level since February 2013, following a big 11.3% decrease the previous month. Recent figures have been volatile, with March figures 26 percent below the record high reached last July. Overall, the trend has been downward in recent months so a further decline in April’s figures could be expected which would apply downward pressure on the Canadian dollar and open up Call opportunities on the USD/CAD.

And so to Friday, we end the week with the all-important Non-Farm Payrolls report. Last month, employers boosted payrolls by 288,000, the biggest increase in two years. This month’s non-farm payrolls forecast is 224,000, which is slightly down on April’s figures, but this month’s Manufacturing PMI data surpassed expectations, the effects of which could be reflected in May’s employment figures, so we may see NFP exceeding forecasts. In this event, Banc De Binary analysts would be looking at PUT opportunities on the Eurodollar.

That concludes our round-up of the key trading events for the 2nd to the 6th June, 2014.

Monday, 02 Jun, 2014 / 7:21

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