Oil Inventories and FOMC Trading » Day Trader Guide

Oil Inventories and FOMC Trading

Short term trading on all major currencies such as: EUR, GBP, JPY and USD has been very attractive throughout May. The reason for short term trading is that no strong trend has been created, as investors wait for the huge June events; Fed Rate Decision and U.K Referendum.

Traders should use short expiries today as well.

Oil Inventories will be published at 14:30 gmt.

Expected change in inventories is minus or drop of 3.1million barrels.

Any number above that, especially if the actual number is above zero, could push Oil lower, while a negative number could create upside momentum.

This event has gained popularity among investors as the price of oil and its global production have been the center of attention for more than a year.

FOMC Minutes will be published at 18:00 gmt.

The big question is if the Fed will raise its interest rate on June 15th.

The event today can provide more information on that and any strong hint of a rate rise could generate amazing opportunities.

Assets to trade will be: U.S dollar, Gold and U.S banks.

 

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