Today’s Key Market Drivers: 12th February 2019

Pound falls after weaker than expected GDP figures.

The British Pound fell sharply against the US Dollar on Monday after GDP, Industrial Production, Trade Balance and Manufacturing data all missed estimates.

The Bank of England warned last week that it expected the UK economy to slow considerably in 2019 and by the look of the GDP data on Monday they might be right on the money.

Annual growth in the UK is running at 1.3% below the 1.4% the market expected and well below the 1.6% annualised growth number last quarter.

Simple trading principles.

What is important?
Being consistent in your approach.

What is knowable?
What’s driving price and where price is in relation to your trading system.

When is it time to take action?
When your system is screaming at you to take a trade.

US Dollar continues to gain as China / US trade talks are eyed.

The greenback has risen against a basket of its major rivals for close to 10 consecutive days as traders continue to price in their expectation that no new trade deals between the US and China will be announced before the tariff truce deadline of March 1st.

Safe haven currencies such as the Yen, Swiss Franc and US Dollar are seeing buying activity as US stock markets remain in a range bound mode with the S&P 500 rising and falling above and below the 200 EMA. The market is waiting for a catalyst, some sort of high impacting news, a comment from Trump or Xi, anything to give traders a reason to buy things up or sell them off.

Kiwi Dollars touches a new monthly low before RBNZ statement.

The New Zealand dollar continued its downward move on Monday touching a new monthly low of 0.6726 against the US Dollar mainly on the back of risk-off trading conditions and a stronger US Dollar.

By this time tomorrow, the RBNZ will have delivered its eagerly anticipated February statement which many traders and economists are expecting will confirm it has lowered growth and inflation targets for 2019.

Much of this expectation has already been priced into the Kiwi Dollar so any accelerated move lower or back higher is going to hinge on how dovish or hawkish the RBNZ statement is.

What’s your purpose in life?

Most people when I ask this question have no idea how to answer it. Once you find your purpose in life your self-belief grows and you will truly lead a fulfilled and happy life.

I found my purpose a few years ago and it has now led to me being truly and honestly content and happy. Let me share with you how to make some money but also let me lead by example and show you how to find your purpose because once you do life becomes limitless.

You will talk to yourself more than anyone else. Be careful what you say. AB

 

About the Author: Andrew Barnett

Andrew is a professional trader and successful investor who has a strong focus on education. He is a regular Sky News Money Channel Guest and one of Australia’s most awarded and respected financial experts and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar. Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account. Andrew, a regular keynote speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).

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