This week is Non-Farm Payrolls week – that time of the month when the U.S. Federal Government lets us all know how many real jobs were created in the U.S. economy the previous month. It is usually seen as a key barometer pointing to the overall healthy and growth prospects of the private sector of the U.S. economy. It is traditionally the most important event in the Forex calendar of data releases, but in recent years it has been replaced by another monthly American even, the FOMC Meeting Minutes Release.
At the end of last week, I wrote
So, what is in the news this Sunday? President Trump is claiming that the Federal Agencies bugged his phone during the last weeks of the Presidential campaign while the Obama administration. The left/liberal “legacy” media such as CNN and the New York times claim that Trump just made it all up and has no evidence for it at all.
Most people that take up trading Forex fail and lose money. Sad but true, which it pays to keep in mind, if you ask yourself “are there any good answers why most people fail?”.
Trump came, he saw, he tempered his speech but he didn’t truly conquer. In yesterday’s speech, he alluded to a forthcoming proposal of strong tax cuts but provided no details whatsoever. Ironically, the USD was already rallying anyway following public comments from two members of the FOMC which strongly implied a rate hike was going to happen this month.
Tonight at 9pm local time, President Trump will make his first address to a joint session of the Houses of Congress. It is not a “State of the Union” speech, but it is very keenly awaited as it is expected that the President will flesh out the details of his economic agenda.
It is a typically quiet Monday, with little for traders to get their teeth into, so consequently there is a great deal of speculation over a few items
The easiest and most reliable way to make profit speculating in any financial market is to identify strong trends, trade in the direction of the trend, let your winning trades run, and cut your losing trades short.