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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In the Zone
- USDJPY
- USDZAR
Market Insight Commentary – Forex
Today's News Headlines
- Its official, Jacob Zuma has resigned stating that he is not sure what he has done – that comment in itself summarizes his term in office – cluelessness. I am not sure that the ZAR will continue the recent move, it may be a sell the rumour, buy the fact this morning.
Market Insight Commentary – Indices
Market Recap
After a couple of lacklustre days on the economic data front, the market was looking forward to the inflation data as well as the retail numbers in the US. The CPI came in almost double the expectation, and this drove the dollar to spike against all the major pairs, hidden in the data though was the earnings rose only half of expectation and that somewhat dampened that move somewhat.
The greenback thus ended the day as the weakest currency on the day with the NZDUSD proving to be the big winner. It has been a rather boring week with no obvious set ups occurring, it’s a good lesson to learn to sit out the market when there is nothing on offer. Don’t get sucked into taking a trade you shouldn’t, be patient and the pairs will come to you.
Important Economic Data Due Today
15:30 USD PPI
Consensus: 0.4%
Effect: Higher than expected is good for the USD
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