In September, the US Federal Reserve System not only lowered interest rates, but also pumped $ 278 billion into the banking system in the form of one-day financing. The New York Fed has already announced that it intends to continue the repurchase operation until mid-October.
This is great news for margin traders that can affect any instrument. Which in turn will bring more volatility. Gold, silver and cryptocurrency markets will not be an exception.
The European Central Bank also decided to lower the deposit rate from minus 0.4 to a record low of minus 0.5. The world banking system is entering uncharted waters, and this will affect forex.
What about oil, one of the favorite commodities among SimpleFX traders ? Oil markets in October will be even more interesting. Besides the long-term uncertainty of future macroeconomic trends – in simple terms, when the recession sets in – there is a concentration of geopolitical tension. The regional conflict between Iran and Saudi Arabia (the mediation war in Yemen) led to many incidents that created oil prices.
In the background, the Saudis are holding an IPO Saudi Arabian Oil Co., better known as Aramco.
At the end of July, Bitcoin fell significantly after an impressive growth from $ 4,000 in April to almost $ 14,000 at the end of June. These price levels have not been observed since the beginning of 2018. Altcoins repeated the trend. Ethereum rose above $ 360 on June 26, but soon began to plummet.
For a CFD trader, this means great times for profit. October is one of the busiest months for business and commerce. Make sure that you trade as efficiently as possible on your PC, laptop or mobile phone using the same platform.
And to make trading even more pleasant, SimpleFX during October to offer a 20% lower spread (conditions by reference). You will return all the money saved by transferring it to your account.
Make sure that your SimpleFX account is replenished and ready to work before October 1.
Guess and Win Bitcoin
We're raffling off $ 250 in bitcoins again. Just try to guess the value of the next Nonfarm Payrolls (NFP), which will be published on October 4 at 8:30 Eastern Standard Time (12:30 UTC). Publish your forecast in SimpleFX ShoutBox.
Publication date 10/01/2019
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