Presidents Day And More!

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By Mike Conlon | February 21, 2011

Today is President’s Day here in the US so it is a bank holiday and most financial markets are closed for the dayâ€"yet the forex market is open for trading! However, volume in the US session will be noticeably lighter as the bank holiday will reduce participation.

So today’s blog article will be an abridged versionâ€"as I still need to make my way to the trader’s expo here in NY where I will be giving a presentation at 3:30. And I also have a minor snowstorm to navigate, though this winter has left me indifferent to the fluffy white stuff as it has become less of a surprise and more of an expectation.

Some “surprises� coming from the Arab nations have heightened risk in the region and threaten stability as protests in different nations are met with different responses. Just days after protests in Egypt forced change in the government, it is not going as well in Libya as it is already been reported that over 200 people have died. This situation could explode into Civil War, as warned by the son of leader Quaddafi.

This situation is far from over and represents a major risk to global stability. As such, the forex market is in risk aversion mode.

Overnight, German business confidence figures were higher but the Euro is trading lower on risk themes. There will be GDP and CPI data figures released later this week.

One anomaly taking place this morning is a higher Kiwi, as expectations of tomorrow’s inflation expectation report has traders postioning accordingly.

At the end of the week, both US and UK GDP figures will be released.

So this week is busy with news, while heightened risk from Arab countries will keep the markets on edge. It is not quite smooth sailing this week which like the snow in NY is not surprising but more of an expectation.

If we are able to run this economic gauntlet this week without too much damage, then I may be surprised! So the only trading I’ll be doing this week will be demonstrations at the Expo, and if you are nearby come stop in and say ‘hi’.

For the rest of you on the internet:

To learn more about how you can take advantage of world events through the currency market, be sure to check out our currency trading courses!

To follow these events live with a free, real-time practice account, click here! Don’t miss out on the world’s fastest growing market!

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Topics: What To Look At In The Market |

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