CashFX is starting the month of February with great enthusiasm and positive expectations. The innovations and events that the CFX family is waiting for, will soon be announced and made available for the growth of your business.
This new era of global growth and the expansion of CashFX, is a success that many of you are witnessing and enjoying with us. This is one of the reasons that we are now providing the main market events every week, to help keep you up-to-date with what is happening in the market and how it impacts our operations.
We hope to serve you in the best way possible and to continue promoting transparency to make your daily activities a success in CashFX.
We want you to remember that economic events can have a direct effect on volatility, which may affect the trading, that is why we believe it is best to be aware of the Forex world we are in.
Here is the Weekly Trading Report Activities from CashFX – Jan 27 – Jan 31, 2020.
The following list of unique indices have been developed internally at CashFX.
Each of the indices offers the general position of the main currency pairs and commodities. The indices use data from futures and over-the-counter (OTC) markets to indicate both long and short open positions.
Below you will find everything you need to know about what happened this week.
Main indices traded:
Monday, January 27, 2020:
The Sale of New houses that measures the annual number of new residential buildings sold during the previous month showed the United States strength in the global economy. The December/19 House Sales Report has had a higher reading of 730k against the 697k in November/19, taking the dollar market to an optimistic scenario allowing a movement of the pair EUR/USD between 13 and 30 Pips.
Tuesday, January 28, 2020:
The Durable Goods Orders and the Consumer Confidence of The Conference Board in the United States were the highlights on this day.
The basic durable goods orders measure the change in the total value of new orders for non-perishable goods, excluding transportation. This can lead to a positive dollar scenario in a higher reading or a bearish scenario for the dollar in a lower reading.
The consumer confidence, as the name says, is one of the most important parts of the economy activity, showing how confident the consumer is, thus predicting his spending. Higher readings point to an optimism in consumption, leading to a bullish for the dollar, but can lead to a negative scenario when the reading is lower.
Those readings caused a movement in all currencies related to the US Dollar, allowing for good profits, depending on the operations.
Wednesday, January 29, 2020:
As the following events took place, great volatility occurred in the markets until the end of the day.
The Nationwide Housing Price Index (IPV) – Interannual and Monthly United KingdomThe Sale of Pending homes of the United StatesThe IEA United States crude oil inventoriesThe Press conference of the Federal Open Market Committee (FOMC) of the United StatesRelease of the Open Market Committee (FOMC) of the United States Federal Reserve
Thursday, January 30, 2020:
Europe led the market movement this day.
An increase in the trend of the German unemployment rate indicates weakness in the labor market and has a negative effect on consumer spending and, therefore, on economic growth. A higher reading than expected should be taken as negative for the EUR, whereas, if the reading is lower than expected it should be taken as positive for the EUR.
The Bank of England Inflation Report (BOE) published quarterly, collects the details of the economic analysis and inflation projections, on which the Bank’s Monetary Policy Committee bases its decisions on interest rates, and presents an assessment of the outlook for the inflation in the United Kingdom for the next two years.
Each month, the Monetary Policy Committee (MPC) of the Bank of England (BOE) meets, in order to discuss short-term interest rates for the Nation. Shortly after the meeting, the MPC publishes a statement, which contains the established rate, in addition to a brief comment on the economic conditions that affected the decision, and also includes hints as to how future meetings will take place.
These events were more than enough to see a market tour of between 20 to 90 Pips during the day.
Friday, January 31, 2020:
The Consumer Price Index (CPI) measures the changes in the price of goods and services. Which is a way of measuring changes in purchasing trends and inflation in the Euro area. The Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator for health economics, but did not have much impact news during the entire week, although there was enough volatile to get good Pips.