It’s been a mostly quiet week thus far, but events are set to heat up very quickly beginning with Thursday’s session in Asia. At that time, Japan will release the GDP for Q1 at 7:50 p.m. EST Wednesday night, followed by China’s trade balance information, expected around 10:30 p.m. EST.
Then, as Europe opens up, the British election will be making headlines; but as the day continues, the conclusion of the meeting of the European Central Bank (ECB) will be announced in a press release at 7:45 a.m. EST Thursday, followed by the press conference at 8:30 a.m. EST.
Furthermore, early in the U.S. session at 10:00 a.m. EST on Thursday, former FBI Director James Comey will testify before the U.S. Senate publicly, and then will testify in a closed door meeting at 2:00 p.m. EST.
All of this combines for a very unique and almost certain wave of volatility beginning tonight, and possibly lasting through the end of the week.
The Asian headlines are likely to be limited to the economic reports; and while both releases are very important, they will possibly include a milder reaction than the market events happening in the rest of the world. The most affected markets for binary traders will be the Japanese yen pairs (JPY) the Japan 225 index, as well as the China 50.
The election in Great Britain will develop throughout the day with the focus being on which party will control Parliament. The most affected markets will be the British pound pairs (GBP), potentially the Euro pairs (EUR), and the FTSE 100 index.
The ECB’s meeting will be important for communicating monetary policy concerns as well as future intentions, and will most affect the Euro currency pairs (EUR) and possibly the Germany 30 index.
Lastly, the James Comey testimony is important with regards to how he labels his dealing with President Trump, and whether the President potentially interfered with a federal investigation. This event will likely affect the U.S. dollar pairs (USD), gold, and U.S. stock index futures such as the US 500, Wall Street 30, US Tech 100, and the US SmallCap 2000.
Binary options are an excellent way to trade around volatile events as they are always limited in risk and never traded on margin. Please be aware of the political and economic circumstances this week when making trades.