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
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Today's Market Fundamentals
Friday was all about the job numbers in the US which came in substantially lower, it may have only come in at 155k vs 198k expected, but keep in mind that last month the print was 260k. If you try and look at the number, it means that the US economy is still positive and growing, it is just growing at a slower month – the average is still well above the monthly average though.
The big market mover was caused by comments out of the White House, we first saw Economic Advisor Kudlow come out and speak about the positives of a US/China trade deal. Shortly after Trade Advisor Navarro came out shouting about 25% tariff increases if the deal is not reached. He later came out and softened his tone somewhat – this “good cop, bad cop” routine is getting old and this rhetoric is starting to fall on deaf ears.
This is going to be an interesting week with both a historic Brexit vote and a FOMC meeting, to try and counter the volatility, I am merely going to try and trade the commodity currencies against each other.
Today's Market Trading Levels
- AUDCAD SELL 9620 – 0.9640
- NZDCAD SELL 9200 – 0.9230
- AUDNZD BUY 0465 – 1.0435
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