FOREX TRADING STRATEGY JAN 2 - WELCOME TO A NEW DECADE
Welcome to 2020 everybody. Let's hope that this year will be an amazing year for trading. Now, let's check the latest updates on the world events in 2020 to see what kind of trading strategies should we use?
Thousands of holidaymakers on the southern coast of Australia, New South Wales, were ordered to evacuate before the weekend when severe weather risks a devastating wildfires swept through the area. field. The Rural Fire Service says anyone on the southeastern tip of the state should try to evacuate in the next 2 days. The 230-kilometer stretch from Batemans Bay to the Victorian border was devastated by fire this week, creating an apocalyptic scene as the great fire turned the sky into a sea of fire filled with embers and ash. In just the week, at least 7 people were killed on the south coast of New South Wales and hundreds of properties were destroyed.
Right now, the community of Victoria is still isolated, including the town of Mallacoota - where about 4,000 people are forced to take shelter on the beach or escape by boat as fierce fires sweep through. Helicopters and military vessels have been mobilized to carry supplies and cater for potential evacuations if roads can be restored.
The market in the first days of the new year
Today, traders in Asia will have a cautious new year start as they review China's central bank's latest policy moves and wait for data on their manufacturing sector. The Australian dollar and the yen depreciated. Most markets will resume operations after closing on January 1, 2020, although the Japanese stock market will remain closed until the end of this week. Yesterday, the People's Bank of China said it would increase the supply of cheap capital to banks - a move to support policies in line with market expectations.
The market has started a new year with strong performance from global stock markets and government bonds in 2019. Today, investors will receive the latest information on the manufacturing PMI. China's Caixin, expected to fluctuate around November levels. In other developments, crude oil prices fell 1% to $61.06/barrel on December 31, 2019 gold at $1,517.29/ounce. .
If during the earliest recovery phase of this bull market, someone told you to give up stocks, forget goods, abandon fixed-income assets and buy a digital currency, then watch it go beyond your craziest dream, then you would take those crazy things, right? Emerging from the ashes of the financial crisis, Bitcoin was created as a detour to banks and government agencies bogged down in the biggest disaster on Wall Street in decades.
At first, Bitcoin was very slow to reach a breakout point, but when it exploded, it proved to be the best performing asset of the decade, the largest digital currency, traded around $7,200, announced an increase of more than 9,000,000% since July 2010. The S&P 500 index only tripled during that period. A world market tracking indicator also doubles and even, gold only increases 25% to the maximum.