trading

Market Insight Commentary – 06 December 2017

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

Click: Introduction To The Forex Market

In the Zone

  • NZDUSD
  • USDZAR

Market Insight Commentary – Forex

Today's News Headlines

  • There is talk that Brexit negotiations could conclude today, the market will be watching this with a mix of expectation and anxiety today.

Market Insight Commentary – Indices

Market Recap

Yesterday was a rather boring day in the markets, it is not uncommon for the markets to start unwinding as we head into the festive season. This week however, it seems as though the market is waiting for details – details on the tax reform, details on interest rates and details on Brexit negotiations. This just adds to the wait and see recipe and testing a trader’s biggest nemesis – patience.

The good news is that most the major pairs are respecting support and resistance levels, the EURUSD slid for most of the day yesterday before finding support at the 100 day MA at 1.1800. The pair bounce from there but has lost a little bit of steam at 1.1840 this morning, both the Brexit negotiations and the risk aversion to stocks are playing a part and so I would expect another look at 1.1800 today.

I am extremely conflicted in my trading decisions this morning as a lot of trading is dominated by both political and economic data factors. I will remain patient today, I have focused on only one or two pairs in this morning’s video, as I don’t see a lot of obvious pairs.

Important Economic Data Due Today

15:15                                         USD                                             ADP Non-Farm Employment Change

Consensus:                             189K

Effect:                                        Actual higher than expected is good for the USD

 

17:00                                         CAD                                            BOC Rate Statement

Consensus:                             None

Effect:                                        More hawkish than expected is good for the CAD

 

17:00                                         CAD                                            Overnight Rate

Consensus:                             1.00%

Effect:                                        Actual higher than expected is good for the CAD

17:30                                         USD                                             Crude Oil Inventories 

Consensus:                             -3.2M

Effect:                                        No consistent effect on the USD