The Forex stock market is traded in every single day around the world. In order to make sound investments which can now be done from the comfort of your own home, thanks to new online platforms such as CMC markets, which now make trading for the first time so much easier. However, before starting in the world of investment, it is necessary to keep up to date with all the latest news around the Forex market.
The US dollar has underperformed and as a result the stock has fallen primarily due to tension in North Korea which saw large amounts of stocks being sold in China and North Korea. However, comments made by Trump last week have also contributed to this, with the president being quoted as saying that the dollar was getting too strong. Following these comments, the currency actually saw a relatively large slump, which is no wonder when the president says it is getting too strong and this was the largest slump in over 3 weeks for the currency. The slump occurred on 12/04/17 and despite this, the day after, 13/04/17 saw a recovery on the slump as investors prepared for many of the markets closing for the upcoming bank holiday of good Friday. This activity of the US dollar in terms of longer term thoughts saw predictions of the ‘hike’ of the currency in June be lowered by as much as 3%, from 52.8% to 49.5%.
As a result of this, it saw the Yen and New Zealand currencies rise and benefit directly from this fall in the US dollar due to the fact they are disconnected the most from the currency. This means the EUR/USD has risen and could continue to rise to new highs (1.063). In terms of longer term forecasts, the CAN/USD has been predicted to fall in 2017, with the price finishing at around 1.26 at the end of the year, despite the fact it has looked to stabilise in recent months to between 1.30 and 1.35.
In terms of predictions for the price of Gold forecast in 2017, that too is linked to Trump’s presidency and many predict that die to many of the policies that are due to be put into place, there is an optimistic outlook as these are predicted to cause economic growth in the US, which will in turn drive inflation. However, if disappointments in the predictions turn out to be true, the price of Gold would fall into uncertain times, as was the case also in 2016. Overall though, 2017 is set to see a positive recovery in terms of the price of gold, from last year, rising to around $1200 at around the end of Q3, whilst predicted to rise to $1250 by the end of the year.
One upcoming event that is set to cause some ripples and shakes within the stock market is the upcoming referendum in Turkey. The president is predicted to win easily, which will grant new powers and this will undoubtedly affect the Turkish lira somewhat substantially.
China market results are also available, with the GDP growing with a 1.6% gain each quarter and rising at a steady and stable pace, with 6.8% year on year growth, as well as industrial production, which, in March alone has grown to a 6.3% year on year increase and the same is true for retail sales, where a 9.6% increase is expected.
Recent enquiries into Japan under suspicions of currency manipulation have been said to be rumoured untrue as Japan state that they are fully committed to upholding the G0 rule on the stock market, which is potentially good news for investors there. The chief cabinet spokes person Yoshihide Suga spoke on the matter and the reason for much of the speculation was due to the fact that the currency was put on a ‘monitoring list’ and Suga went on to say it did not require a response due to the fact that the list was only mechanically generated based on data such as trade surpluses with the United States and it is not reported as a major currency manipulator.