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:
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Today’s Market Fundamentals
Yesterday was all about the CCB as Draghi gave the markets to ponder by suggesting that there may be further stimulus out of the single currency as he was a lot more dovish than was expected when he started touting more rate cuts. There is increasing levels of dovishness by Central Banks around the world and it seems as though they are willing to have a race to the bottom.
As predicated Donald Trump threw his toys out of the cot and accused the EU of purposely weakening the EUR – sometimes you just want to remind him that not everyone does something to goad the US, sometimes it’s about their own currency. Either way, after he was so vocal on the weekend about interest rates in the US being far too high – you wonder if he is the pot or the kettle.
There is an FOMC meeting this evening, while I don’t expect the Fed to cut just yet, it will all about the language and just how dovish will they get tonight. My strategy is stay away from FX pairs and look at European equity markets instead.
Today’s Market Trading Levels
1. DE30 SELL 12370 – 12400
2. UK100 SELL 7450 – 7470