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:
- Global Equities
- Stock Indices
Today’s Market Fundamentals
The market was relatively quiet ahead of the FOMC decision yesterday, we expected a dovish Fed and that was exactly what go in the end with Fed Chair Powell suggesting that we could see the next meeting on the table. There was one dissenter on the panel that wanted an immediate cut, but the consensus was to hold to see further developments at the G20 and in particular what effect a looing trade war has on the economy before cutting, economist are starting to price in at least 3 cuts over the course of the next 12 months.
Donald Trump had the bit between the teeth and was on the twitter showing how disappointing that there was no cut in rate last night, he even thinks he has the authority to demote the Fed Chair. The tension between the US and Iran are heating up again, Iran report that they shot down a US drone last night while there are reports that the US will ship over 1000 troops to the Middle East in the coming days. This will be a narrative worth watching over the next couple of weeks – especially for commodity traders.
I prefer to keep an eye on the European indices for a little bit of opportunity today.
Today’s Market Trading Levels
1. DE30 SELL 12350 – 12375
2. UK100 SELL 7430 – 7460