Today’s Key Market Drivers – 22nd August 2017
Tensions again rose on Monday between the North Koreans and the US when war games with some of the USA’s biggest alias began in South Korea. North Korea describes the annual training exercise as a preparation for war and in recent years has test fired weapons of its own in a show of military strength. The US Dollar made new lows against the Yen and Euro on Monday as traders see no reason to buy the greenback heading into the back half of 2017.
Janet Yellen the US Fed Chair will speak later this week at an annual Central Bankers conference in Jackson Hole Wyoming and isn’t likely going to give traders any new reason to buy back the US Dollar. She’s recently said the Fed has concerns about inflation and that persistently low inflation will impact the Fed’s decision on when it will raise rates again. Trump’s lack of traction on his economic policy agenda is also weighing on the US currency. Today is likely going to be another snooze fest for financial markets with a genuine lack of high impacting economic news.
This is when your patience and discipline really counts for something as many novice traders can’t help themselves and get sucked into trading. Stick to the plan.
- Trade the edge.
- Focus on risk and reward.
- Replicate the process.
As the week rolls on there is going to be more fundamental news to speak about but until then remain disciplined and patient.
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 key-note 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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