Congratulations you reached the half way mark of the 12 week program. You came a long way from scratching your head every time you heard Fed, 10yr yields and hawkish stance. To not only fully understanding these terms, but anticipating on a weekly basis when market wants to make a move. This week your focus will be the future. You’re on a learning path that will set you light years apart from where you started. But before you can truly reap the rewards from all your knowledge, it is paramount that you top up your experience tank by committing to your daily recaps, trade of the week and mental training more than ever before. Soldier on!
Research: RBA ,RBNZ and BOC current MONPOL
Weekly research tasks are designed to put you in charge of your own education. This week focus is on 3 major central banks. Australia’s Reserve Bank of Australia commonly known as RBA. New Zealand’s Reserve Bank of New Zealand or known as RBNZ. Canada’s Bank of Canada also known as BOC. These central banks agendas and their respected heads and presidents speeches has market moving forces. For traders their monetary policy (MONPOL) is key in understanding their current concerns and future moves that will reflect in the price of AUD, NZD, CAD and their crosses. Understand in what cycles these central banks are, are they hiking which means they are hawkish or are they cutting rates which means they are dovish. Where are they in the QE cycle?(quantitative easing). It helps to track the history of action of these Central Banks and how they impacted currencies. Credible sources are investopedia, babypips, fxstreet and Wikipedia. The list is not exhaustive, feel free to explore and discuss your findings with me on Twitter @specstrading
Here are two links to get you started.