forex trading symbols

Market Insight Commentary – 18 June 2018

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

  • USDCAD
  • Gold
  • Oil

Market Insight Commentary – Forex

Today's News Headlines

  • With both tariffs set and retaliated against between the US and China, the market will eagerly await to see if both Canada and the EU follow through with any tariff retaliation of their own.

Market Insight Commentary – Indices

Market Recap

Friday was the day after a BIG move in the financial markets and as predicted there was a lot of rallies, Monday will be the real acid test on whether those moves are valid or not. Donald Trump officially announced up to $50B of tariffs on China which will start on July 6th, China immediately retaliated with tariffs up to $50B. The US then took a step back saying that $34B and China responded with the same – trade war on?

After the EUR was smashed lower on Thursday, it was inevitable that there would be the bounce on Friday. The USDCAD is still to the pair to watch for me, trade concerns and NAFTA agreement worries continues to put pressure on the pair – for me the move is grossly overdone and is starting to show a strong daily chart divergence, I suspect that sellers will be biting at the bit to get involved at 1.3200 and I will be in that line this morning.

Last week was one of the tougher ones in recent memory, this week should be a little easier in that there is not too much on the economic calendar. Fed Chair Powell was pretty solid this week whereas Draghi was a little unconvincing and I wouldn’t be surprised if we see the dollar bulls back in the ascendency this week.

Important Economic Data Due Today

14:30                           ECB                              ECB President Draghi Speaks    

Consensus:                   None

Effect:                          More hawkish than expected is good for the EUR

[su_divider]

Read Our Most Popular Articles Below, It's Worth It!