Market Brief January 10th, Forex and Cryptocurrencies: U.K. Manufacturing Production


Bitcoin

Today we’ll share with you a couple of facts about the first and largest cryptocurrency.

Bitcoin is a digital currency that exists outside of the banking sector. It is the first currency to be created by people and not by a government. Another defining characteristic is its extremely volatile nature. In terms of appreciation, Bitcoin beats any other market in the history of finance with the exception of the tulip mania in Holland in the 17th century. We all witnessed how a year ago you could buy one Bitcoin for $ 1,000 and now the same is worth $14,800 per coin. Pretty amazing, isn’t it! The key with any asset is to buy low and sell high.

 

United Kingdom

GBP, 09:30 a.m. GMT, Manufacturing Production (MoM) (Nov) – a major indicator with high-impact on the valuation of the cable. Manufacturing production measures the change in the total inflation-adjusted value of production. Projections for the month of November point to a slight increase at 0.3% versus last period’s result at 0.1%. If the actual number is higher than expectations, this could boost the value of the cable while a weaker than projected result could bring it down.

 

United States

OIL

USD, 15:30 p.m. GMT, Crude Oil Inventories – we’re told the level of inventories held by U.S. firms. Projections are for higher levels of inventories at – 3.890M barrels versus – 7.419 the previous week. If the supply has increased, this could negatively affect prices and increase demand. On the other hand, if the level of inventories has been cut this increases demand and should consequently raise the price of the commodity.

 

Wishing you Happy and Successful Trading!

 

Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.”  Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.

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