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
The day started off quietly as there was nothing really much to move the markets, we have got used to a lot of direction with risk, but yesterday there was nothing much to guide it. In line with what has been happening around the world, the Swiss Central Bank joined the party by admitting that rates would remain negative for some time to come as they brace for a global slowdown.
The US GDP report come out and provided the day with some drama, while the report reported a strong read – it quickly become evident that the report was over reliant on trade and inventories, neither of which will carry forward. The inflation was incredibly low and this will heap further pressure on the Fed to cut rates this year. This could indicate a weaker dollar going forward as traders start unwinding the expectation of a rate hike.
The Chinese/US trade talks seem to be progressing well, both sides have indicated that they expect a trade agreement to be signed, with the Chinese indicating that June could be the target date set.
Today's Market Trading Levels
1. USDCAD SELL 1.3475 – 1.3500
2. GBPUSD BUY 1.2880 – 1.2850
3. EURUSD BUY 1.1140 – 1.1125
[su_divider]
