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
The market waited in anticipation for the FOMC last night and although it was widely expected that the market would stick on rates, we waited to see how dovish the Fed would be. And they certainly didn’t disappoint as they could not have been more dovish last night, some of the highlights to come out of the meeting were patience on the next move.
The Fed seem very concerned around global economic developments and are willing to adjust balance sheet normalization, there was an adjustment in language as they described local economy as solid rather than strong and they removed “balance of risks” from the statement where previously they believed that they were roughly balanced.
The impact was a severely wounded dollar, higher than expected stocks and gold as well as tumbling yields. Roll on tomorrow where we get the NFP data which could move this market even more.
Today's Market Trading Levels
- AUDCHF SELL 7215 – 0.7230
- CADCHF SELL 7565 – 0.7585
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