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
Today's Market Fundamentals
FX volumes are slightly lower today on the back of Asian holidays – China, Honk Kong and Singapore are all on holidays for most of the week. The market however was looking for another narrative from the US jobs number on Friday, despite all the concern around the validity of this number, there is no doubt that the US job market is solid.
There was not much new Brexit news to discuss with the issues still being around an Irish backstop and the extension of Article 50. There is news that PM May will be going to the EU to try and negotiate further, the EU have stated that they are not keen to negotiate and their stance is understandable given the possible contagion around further exits. I just wonder that they are being short sighted, the UK are still their biggest trade partner and their own long term trade prospects will also come under scrutiny.
There was a lot of US data that was not released during the government shutdown and so the market will be watching these with some interest, the risk is for all of this to weaken the dollar so trade with caution.
Today's Market Trading Levels
- US500 SELL 2719 – 2723
- US30 SELL 25200 – 25500
- USTEC SELL 6920 – 6940
[su_divider]
