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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
Editors’ Picks
EUR/USD: Yes, the US economy is resilient – No, that won’t save the US Dollar Premium
Some impressive US data should have resulted in a much stronger USD. Well, it didn’t happen. The EUR/USD pair closed a third consecutive week little changed, a handful of pips above the 1.1800 mark.
Gold: Metals remain vulnerable to broad market mood Premium
Gold (XAU/USD) started the week on a bullish note and climbed above $5,000 before declining sharply and erasing its weekly gains on Thursday, only to recover heading into the weekend.
GBP/USD: Pound Sterling remains below 1.3700 ahead of UK inflation test Premium
The Pound Sterling (GBP) failed to resist at higher levels against the US Dollar (USD), but buyers held their ground amid a US data-busy blockbuster week.
Bitcoin: BTC bears aren’t done yet
Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.
US Dollar: Big in Japan Premium
The US Dollar (USD) resumed its yearly downtrend this week, slipping back to two-week troughs just to bounce back a tad in the second half of the week.
Week ahead: Data blitz, Fed Minutes and RBNZ decision in the spotlight
US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.