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 market was always going to be somewhat subdued ahead of both a US and UK holiday, and so it proved. Whilst China tried to convince the world that they have never deliberately devalued their currency – who are they trying to kid? Trump reiterated that although he believes a deal will be agreed in the future, the US are not ready just yet, this to me reiterates that the US probably hold the better set of cards at this point – and the Chinese are sitting wishing that there bluff was not called.
Trump has for the interim turned his attention to Japan where he also hinted that trade negotiations are not far away between the two allies. Turning our attention to the EU it is easy to see that the world is changing – voters are becoming more fragmented instead of voting centre left or right – with green parties very much leading the way.
What this means for the trader, is expect some volatility in the future as the market grapples with an abundance of policy changes.
Today's Market Trading Levels
1. GBPCAD BUY 1.6987 – 1.6920
2. GBPUSD BUY 1.2636 – 1.2600
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