MONDAY
The trading week gets off to a relatively slow start on Monday, with just two releases of interest to binary options investors. At 9:30am we have the results of Markit’s monthly survey of U.K. purchasing managers. The last two postings - though positive - failed to meet expectations. Another disappointing number this time around could open up a tradable opportunity on GBP/USD, particularly with the Institute for Supply Management’s report on U.S. purchasing managers scheduled for release at 3 in the afternoon.
TUESDAY
On Tuesday, all the important events of the day come in the morning. At half past midnight we have Australian building approvals. This is normally quite a low key release, but it occasionally has the capacity to surprise. In September and October last year, Aussie building approvals came in well above expectations at 10.8 and 14.4 percent respectively. These trend-bucking numbers prompted a very tradable uptick on AUD/USD, with investors interpreting the data as a strong signal that the Australian economy was showing signs of improvement. We stay in Canberra at 3:30 for the Australian cash rate and rate statement from the Reserve Bank of Australia. Then at 9:30 we cross over to the U.K. for a construction PMI report from Markit.
WEDNESDAY
Onto Wednesday now and another early release from Canberra. That’s Australian quarterly GDP at 12:30am. Last week strong GDP data from the U.K. saw GBP/AUD continue to rise, and a low number on Wednesday is likely to reinforce the uptrend that has been in effect since April last year. Next we get our first look at Friday’s all-important NFP report, with ADP’s Non-Farm Employment Change number for February at 1:30 pm. Although not always that closely correlated with the actual NFP figure released a few days later, binary options traders can still make successful investments using ADP if there is a significant disparity between the forecast and actual number. Our last tradable event on Wednesday comes at 3 in the afternoon with the release of the Institute for Supply Management’s non-manufacturing PMI report with a slight fall to 53.7 expected by analysts.
THURSDAY
Thursday now and another early start to the trading day, Another Australian release – this time trade balance for January at half past midnight. Then at 12:45 in the afternoon we have the European Central Bank’s minimum bid rate. Euro-dollar investors should expect no change at following last week’s small increase in Eurozone inflation. Then at 1:30 it’s we have weekly unemployment claims figures from the Department of Labor. Last week the U.S. jobless number exceeded forecasts by 15,000, jumping to a five-week high of 348,000.
FRIDAY
And so to Friday, a day dominated by U.S. and Canadian data. At 1:30 in the afternoon we have trade balance figures for both countries, the U.S. and Canadian unemployment rates, and of course NFP. Analysts are forecasting an increase in non-farm payrolls from 113,000 in January, but even with the predicted increase, the U.S. labor market will have experienced its most sluggish three months since 2012.
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