Head of the Federal Reserve Janet Yellen will speak to markets today at 21:00 gmt.
Last time Yellen spoke the dollar collapsed and since then markets have been very volatile as investors fear that low global growth is here to stay.
Binary traders should prepare their accounts for U.S dollar trading during Yellen’s speech. Any remark about a potential rate rise should support the dollar and push the eur/usd lower, towards its medium term target of 1.1
First events will take place at 12:30 gmt – unemployment claims and core durable goods.
Claims should stay steady at 268,000 and order growth of 0.2%.
New homes sales will be published at 14:00 gmt.
The first market to get hit from higher interest rates is the housing market. A good number today should support a rate rise on next Fed decision at October 29th.
Gold could be the best trade on housing market data. Good numbers could push gold lower.