The Event of the Week!
Tomorrow on the 17th of January 2017 Theresa May will talk about the way forward and the guidelines for Brexit. Her announcement yesterday already gave the GBP a battering and her talk tomorrow may even push it down further towards 1.1900 – 1.1870 levels.
This is going to be another market opportunity where traders will want to take advantage of the massive volatility in order to take some profits.
Other interesting events for this week will be FED’s monetary policy statement and FED president Yellen’s speech on Wednesday 18th January.
To top that up on Thursday the 19th of January, the European Central Bank will give interest rate decision and a monetary policy statement. This will start to give the EUR some boost this week as an increase in the Euro zone interest rate is on the table.
Friday is no short on action on the 20th as Fed Chair Yellen talks again. The market will listen to what she has to say. Will the USD get stronger? A strong USD is not that great for the US industry if it wants to sell its products overseas. So we might see the USD weakening slightly this week.
So what to trade? As you might have seen my video today the feasible things seem to be currencies.
This week the volatility should give us some great opportunities, as the USD gains value in the first few days of the week and then loses value in the latter part of the week.
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***Information contained in this news letter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making, but merely provides information from the market for its clients as additional information being made available as per the events occurring in the financial markets.
HIGH RISK WARNING:
Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.
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