Hi Traders,
It is always a good idea to keep the best australian forex brokers global climate in mind when you trade. Here is a list of current news and market events I keep in mind when analyzing the charts.
- USD – The Fed still wants to increase rates this year which means buck bullish.
- RBNZ already cut rates twice this year and will result in a weaker Nzd.
- Euro is weak, president Draghi of the ECB said rates should stay low for a while.
- Jpy takes fundamental news the hardest due to it’s weak value.
- OPEC didn’t stop any oil productivity yet and the result is over supply which means weaker oil prices.
- Canada exports oil so the chances of a stronger Cad look dim while oil is weak.
Basically there are 3 camps of traders:
- Fundamental Traders
- Technical Traders
- Both in one
I am the latter. Although I analyze the charts and do all my technical work to plan the best day trading platform canada, I do look at my economic calendar to get a broad perspective to what is going on in the markets now. It is foolish to play chicken with a train when you are on a bicycle and I believe by not looking at what the banks, governments and institutions want to do with their commodity or currency, you are doing just that!
Happy Trading!
Kobus