Tuesday Forex Traders Money Market Update. 8th October 2019

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Financial markets started the week on the back foot with US stock indexes lower and safe haven currencies broadly supported. My expectation the US Dollar would continue to weaken in the first few days of the week has so far proved to be inaccurate as the markets concern over US / China trade relations has seen the greenback act as the usual safe haven when markets get nervous.
Today’s economic calendar is free of any high impacting economic data although BOE Governor Mark Carney and US Fed Chairman Jerome Powell are due to speak at separate conferences in Tokyo and Denver. The US economy has recently shown some signs of weakness and traders will be keen to hear from the US Fed Chairman today after Trump called him and his committee “clueless” when it comes to US interest rates.
Traders are expecting to see the US Fed drop its official cash rate in October and my expectation is that as the month drags on US economic data will show the economy is slowing and this is why I expect the US Dollar to remain under pressure.

Join me for a free live trading and coaching session online every Tuesday at 7.00pm AEST. To register simply click on the link below.

https://www.ltggoldrock.com/

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 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).

Currently Andrew is living his dream life on the Sunshine Coast with his loving wife and three children.
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