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
- Oil
- GBPUSD
- EURUSD
- USDCAD
Market Insight Commentary – Forex
Today's News Headlines
- There is still a lot of talk that a NAFTA deal will be finalized soon – my concern here is that we have been hearing this for some time now and still no deal has been summarized.
Market Insight Commentary – Indices
Market Recap
Donald Trump continues to rock the boat for lack of a better phrase, he hinted early yesterday morning that he was not pleased with the latest China deal – I think that he needs to realize that the he can’t have his cake and eat it too. The natural reaction of the market was to seek out safe haven assets such as the Yen and Gold, they did reach highs and started to tipple somewhat but had to wait for the release of the FOMC minutes to get any momentum.
The minutes highlighted that the Fed would tolerate higher inflation, without rushing to hike rates – this is nothing new but again it was the catalyst for a major move in the markets. Oil continues to be a major factor in the market, the wobble in crude was the catalyst for the USDCAD to move from 1.2900 to 1.2860.
The FX market continues to be tough and I still seek opportunity in other markets.
Important Economic Data Due Today
10:00 GBP BOE Gov Carney Speaks
Consensus: None
Effect: More hawkish than expected is good for the GBP
10:30 GBP Retail Sales
Consensus: 0.8%
Effect: Higher than expected is good for the GBP
13:30 EUR ECB Monetary Policy Minutes
Consensus: None
Effect: More hawkish than expected is good for the EUR
[su_divider]