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: Join Our Facebook Trading Community!
In the Zone
- Dax
- FTSE
Click HERE for Detailed Levels
Today's News Headlines
-
Japan, up to now have been very quiet in the trade war – that could all change soon as rumours were sparked last night that they would be next in Donald Trump’s sights.
Market Recap
Fundamental headlines continue to drive the market as we await the NFP data read today as well as any form of news flow around NAFTA and Brexit that may filter through. I won’t be trading today, as for me the NFP data read is always a lottery as to how the market react and so I would prefer to trade on Monday again, considering we had such a good week I feel this to be the most conservative route.
The USDJPY was rather active yesterday and was mostly sold the entire day, a positive correlation to the equity indices. I think that most of the move would have left the market with a feeling that Chinese tariffs will be announced.
The USDCAD continues to be moved by the NAFTA headlines – oil slumped and so the market tested 1.3200 before retracing steadily throughout the day. There is also talk that rate hikes could essentially be increased at a faster price and this will send the USDCAD even lower.
Important Economic Data Due Today
14:30 CAD Employment Change
Consensus: 5K
Effect: Higher than expected is good for the CAD
14:30 CAD Unemployment Rate
Consensus: 5.9%
Effect: Lower than expected is good for the CAD
14:30 USD Average Hourly Earnings
Consensus: 0.2%
Effect: Higher than expected is good for the USD
14:30 USD Non-Farm Employment Change
Consensus: 191K
Effect: Higher than expected is good for the USD
[su_divider]
Read Our Most Popular Articles Below, It's Worth It!
