We have a question from a new subscriber asking how exactly they can go about to be better prepared for the trading week ahead?
Thanks for the question, we can address this question in two parts, the first one will revolve around the terminal and the other around general research.
So, firstly, every week our analysts prepare two very useful reports for the trading week ahead. The firstly one, and you can find both of them in the “Currency Research” section of the terminal.
These two reports are called:
“Week Ahead: Top Trading Opportunities”
The top trading opportunities report goes through the major theme or themes that we will be focusing on in the week ahead and goes through the upcoming events as well as possible sentiment shifts to look out for as well as a trading plan on taking advantage of them.
We also base our weekly week ahead video that we post in the terminal on this report.
“Major Currencies: Fundamental Drivers”
This one goes over our current macro fundamental bias for each of the major currencies and provides our rationale on why we have that particular bias, or what major macro themes are currently influencing that bias.
These reports should give you great insights into what to focus on in the week ahead and can help you plan your trading for the week based on the type of events that will be in focus, this is especially handy if you have a limited amount of time available for trading.
Now, if you want to do some additional research for the week ahead, the first thing you want to do is obviously go through the upcoming economic calendar to plot the most important events coming up from both the economic data side as well as the political and central bank side, like important speeches or central bank events etc.
But, apart from that which is probably the basics of week ahead planning, there are many great sources available that can help you out with that, we usually go through many investment bank week ahead reports ourselves, which include the weekly reports for banks such as ING, Scotiabank, Wells Fargo, JP Morgan, TD Securities, Westpac, Nordea, Danske Bank and HIS market economics just to name a few.
Going through these reports will often give you a much wider expectation framework for the upcoming events as you see the events through each of the different analyst lenses, and can often provide some hidden nuggets that are very useful for you preparation by providing more in depth analysis for upcoming events and more importantly providing a game plan for how to trade specific events, which can be really helpful when building out possible scenarios for upcoming events.
Apart from that sites like Bloomberg and Financial Times can also be really helpful and often has some great research articles on upcoming events that the markets are looking at, unfortunately access to them are not free, but as a tip, you can often find amazing specials for their subscriptions on places like e-bay where you can buy a subscription for much cheaper so check that out.
Another source of great articles is the news section within something like MetaStock Xenith, they can also share great info, but I find that more useful on a day to day basis and not really a week ahead perspective.
So, I hope that helps, any other questions don’t hesitate to let us know.