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Summary
It could be said that economic data is the life blood of the Foreign Exchange markets. Many traders begin their week by first looking at the calendar to plan ahead their likely schedule. Certainly business news is always talking about the latest releases and we have often seen how economic data suddenly leads to market volatility. But in the age where banks and market makers employ low latency trading systems, economists and mathematicians with PHD's how can the retail trader compete? Enter an age old concept for trading the markets, going on a "Straddle", a method that eliminates the advantages of low latency systems or the need to be a rocket scientist to accurately predicting how things will turn out. Join Mark de la Paz as he discusses straddle trading and the cheat sheet for interpreting economic figures.Latest Live Videos
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AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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