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
It was a quiet morning yesterday with thin liquidity caused by the week-long holiday in Japan, there were some concerns of a “flash crash” because of it but it never materialized. The GDP report out of the US placed a little more emphasis on the inflation report.
Fresh on the heels of rumours that a trade deal between the US and China is getting closer, there were reports that Trump will turn his attention to negotiating a new bilateral trade agreement with Japan. I suspect that this trade agreement will be tougher than the negotiations with China as Japan will not budge on the issue of exchange rates. Talking of China, there are hopes that something more concrete will come from scheduled talks today.
I generally stay away from the JPY pairs but with the holidays and these latest rumours, I have even further reason to do so. I will instead look towards trading.
Today's Market Trading Levels
1. USDCAD SELL 1.3450 – 1.3475
2. UK100 SELL 7450 – 7470
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