Traders can be spotted a hundred miles away. From their unique vernacular to the pale expression on their faces from staring at squiggly lines all day, it’s usually rather easy to know when you’re dealing along with a financial market enthusiast. Below is a list of 12 reasons you know you’re a trader.
Here’s what’s going on for the Greenback
The EUR/USD on Friday decreased by 0.8%.
And on a weekly basis, the world’s most popular currency pair fell by 0.9%.
Yesterday’s UK Holiday kept the markets somewhat calm. JPY was the weakest major currency yesterday due to the expectation of Bank of Japan easing in the near term while the US dollar continues to strengthen versus the majors. Looking ahead, UK will certainly release mortgage approvals and M4, US will certainly release consumer assurance during US session later in today.
The probability of the Federal Reserve (Fed) to increase interest rates twice during this year have actually increased according to its Chairwoman Janet Yellen. During her annual speech, which once again took place at Jackson Hole, she supported the Fed’s initial plan for gradual increases while she likewise said that there is “strengthened” probability for another rate hike.
Greenback closed as one of the most effective performing major currencies last week. Fed Chair Yellen mentioned that “the case for an increase in the federal-funds rate has actually strengthened in recent months” during the Jackson Hole Symposium last Friday. A report shows that the probability of a Fed rate hike in September rose to 42% and a 65% possibility of a rate hike this year. Keep an eye out for the US ADP employment on Wednesday, US ISM Manufacturing PMI on Thursday and highly anticipated non-farm payrolls report due out on Friday.
It’s not all doom and gloom for the world’s second-largest economy. Amid the sharp slowdown in manufacturing, central bank uncertainty and unprecedented pace of capital flight from the country’s equity markets, China’s white-hot technology sector continues to churn out wealthy entrepreneurs tapping into high-demand sectors that intersect e-commerce, social media and green tech. In an economy desperate for brand-new direction, tech start-ups are leading the charge.
Ever wondered if the fulfills in Wall Street really live extravagant lifestyles or make six-figure salaries as movies suggest? Here’s an insider look on the standard salaries of financial market gamers based on their position and tenure.
Markets are expecting that Fed’s Chair Yellen could hint on a rate hike in the near term during her speech at the Jackson Hole symposium today at GMT 14:00. A revised set of second-quarter UK GDP figures headline the economic calendar in the European hours. Expectations point to confirmation of preliminary data showing the economy added 0.6 percent in the three months through June.
George Soros, the man that “broke the Bank of England,” recently made a killing in gold-mining shares before promptly cutting his ties to the yellow metal at the end of the second quarter.
The month of September is highly active in the financial markets, as traders in the northern hemisphere return from summer vacation. For Australia, September represents the start of the spring season. As the weather warms up, so too will the economic calendar. Below are key events that traders will be closely monitoring this month.