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
Yesterday was dominated by Brexit headlines and the pound pairs were strapped in for the ride, the pound was volatile and it enjoyed a bumper day as there is tangible hope that the parliament can take control of the government. PM May will be the catalyst for any cable moves today, yesterday she hinted that the meaningful vote this week would become a provisional vote – this means that she may add some caveats and if passed in parliament, this will be put forward to the EU next week.
Will this strategy get a deal done in time – this is anyone’s guess at this point. Depending on who you believe, this is still on a knife edge. There are reports surfacing that talks are at a delicate stage and that a deal will be agreed on whilst others are suggesting that it is dead in the water. I have a suspicion that the EU have realised that a “no deal” looks imminent and that they may have extended an olive branch.
Either way, there is going to be a meaningful vote today – we’ve been down this road before, so I would be cautious against a resolution.
Today's Market Trading Levels
1. GBPCAD SELL 1.7710 – 1.7770
2. GBPJPY SELL 147.28 – 147.60
[su_divider]
