Did you know that The Forex or FX Market derives its name from Foreign Exchange. It is essentially the exchange of currency (money) between two different countries. The FX market is the largest financial market in the world, and is open 24 hours per day, 5 days per week. BlackStone Futures provide a User Friendly trading environment in YOUR journey to Profitability on:
- Forex
- Global Equities
- Commodities
- Stock Indices
Today's Market Fundamentals
Continuing with the theme of trade talks with the US and China, there has been a lot of analysis over the last couple of days – possibly over analysis. It did not stop the equity markets and the dollar from taking a bath though as the lack of commitment from China started bringing with it a little bit of concern. This prompted Donald Trump early this morning to take the carrot or the stick approach by stating that “there will be a REAL DEAL or no deal,” at all.
He is not entirely wrong when he states that China don’t want tariffs, which is exactly what will happen should China continue to be so uncommitted. The tweets from Trump seemed to have its desired result as China have announced that they will push on with negotiations over the next 90 days and are confident that we can see a deal agreed – this should buoy the equity markets this morning.
Brexit is continuing to throw out some curve balls – yesterday the European Court announced that Britain can unilaterally revoke article 50. It is a long shot, but it means that there is once again a no-Brexit scenario on the table, I would like to say that this cannot happen but that is exactly what we said about the referendum in 2016. Theresa May lost her first vote yesterday in that parliament will have a greater power if Mays vote gets defeated next week. This means that parliament would try and avoid a no deal scenario.
Today's Market Trading Levels
- GBPNZD BUY 8340 – 1.8300
- NZDCAD SELL 9190 – 0.9210
- EURNZD BUY 6360 – 1.6330
[su_divider]
Read Our Most Popular Articles Below, It's Worth It!
