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:
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Today's Market Fundamentals
The global economy feels incredibly fragile this morning, it feels as though it was not long ago that we were all about to usher in global growth – but instead we are all worried about a global recession. It might be that central banks seem to be driving blind at the moment which put the consumer’s debt at risk, or any form of political comments can send the world into recession.
The market will be gripped with the Brexit vote today, it is widely expected that PM May will lose the vote today and that the UK will have to explore other options. There is also speculation that she may have to approach the opposition party to negotiate a joint plan – considering the stance that Corbyn has taken though, it seems that this may be a tough ask. Last night PM May for the first time admitted that a rejection of the deal could mean no Brexit at all.
Washington remain shut for a 24 day and there does not seem to be anything that suggests that there could be a reprieve – you get the impression that Trump is stubborn enough to wait for his funding. China released their trade figures which were massively disappointing, both exports and imports missed target by some way which may indicate that there is a massive slowdown in domestic demand – this may give the US some ammunition ahead of trade talks at the end of the month.
Today's Market Trading Levels
- US30 SELL 24100 – 24350
- US500 SELL 2598 – 2618
- USTEC SELL 6620 – 6650
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