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
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Today's Market Fundamentals
The morning session concentrated on the fall out between the US and China in their quest to get a trade deal completed – this seemed to be a recent certainty until Sunday changed that quiet abruptly. More news is starting to filter in that the Chinese had backtracked on almost all their commitments in the trade deal – IP theft, technology transfer, competition and currency manipulation – this is what prompted Trumps tweets. If this was a gamble by the Chinese, it seems to have backfired in spectacular fashion. There were talks yesterday that the Chinese have still arrived in Washington for more talks which is encouraging, these developments have put the US in the driving seat though.
There are more sanctions on the way, with the US set to turn the screw on Iran. This is all feeding into risk sentiment and so it is important to stay away from those risk currencies this week.
Today's Market Trading Levels
1. EURJPY BUY 123.10 – 128.80
2. AUDJPY BUY 7660 – 7630
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