Every day the market moves, but on certain occasions an event will happen that will make the Forex really jump.
On rare occasions, a couple events happen at the same time.
This week is one of those rare occasions.
This volatility will continue into the weekend, which makes right now one of the best times for trading all year. In case you didn’t already have enough reasons to trade the Forex, here are 3 reasons why this weekend is the trading weekend you can’t miss:
The Bank of England Cut Interest Rates: The Bank of England announced Thursday morning they are cutting their already historically low interest rate from 0.50 percent to 0.25 percent. This is already causing the GBP to trade bearish across the markets. When a currency shows this much movement in one day it generally continues through the next couple days. Whether that’s continuing to trade the currency’s direction, or through retracements, the movement on the GBP should continue.
Friday’s US Nonfarm Payroll Announcement: The first of every month is a big one for the United States because they announce their nonfarm payroll report. This is part of a larger report that talks about the employment situation within the country. Every time the report comes out the USD shows a lot of movement. If the report is good, then the USD will go up, if the report is bad, the dollar will go down.
Oil Prices are Starting to Hold: Nothing has been more volatile in the last year than oil. OPEC continues to produce oil at full-force, which is creating a glut of oil in the markets, keeping prices low. The constant volatility within the nations of OPEC and the North American oil companies have caused wild swings in pricing.
There is no better time than now to learn the strategies to potentially profit off this volatility.
Events like this weekend only happen once in a blue moon. You may not have a chance to profit off this volatility for months on end.