How to make money on a pound and what to do with oil

22 lis 2019

The situation in Hong Kong continues to escalate. Trump promises to sign a scandalous law to support demonstrators, which is extremely describing China. And although the US and China declare progress in the negotiations, in such conditions, it can break at any moment. So we continue to look for points for purchases of gold and the Japanese yen.

As for the other news - the impeachment process continues in the USA, the UK is preparing for the elections and Saudi Arabia for the IPO Saudi Aramco.

In light of the upcoming elections and the uncertainty with its outcome, we can’t count on the growth or decline of the pound in the next couple of weeks. But on the other hand, understanding this opens the doors for aggressive intraday trading without explicit preferences. So, we are armed with hourly oscillators and actively trade GBPUSD.

Oil has grown quite well over the past couple of days amid information about rising oil reserves in the US, as well as increased tensions in the Middle East. These events are not one of those that can significantly change the balance of power in the market. So Friday looks like a great day for oil sales.

First of all, we are waiting for business activity indices to be published in the Eurozone, the UK and the USA. Also, pay attention to retail sales in Canada, as well as the speech of the new head of the ECB Lagarde. Given that markets are now very sensitive to macroeconomic statistics, even relatively minor data can trigger a surge in volatility. Well, from the new head of the ECB, her vision of monetary policy in the Eurozone has long been expected.