Those are the words of the new U.S. Elected President, Barack Obama; Is this important for forex trader? No doubts. Would in change markets trend in the short or medium term? I don´t think so. But a new president means new monetary policy, taxes policy, and for what I now, even a new “war” policy. Obama focused his campaign in finding stability and sustainable economic growth. And this will certainly affect markets in the long term. If he could change things or not is something that we shouldn’t care about TODAY, and of course I mean in trading. Today we should pay attention to the lack of liquidity markets are experiencing these days (that’s the reason we see some violent spikes in one or other pair) and whether or not some confidence return to trading desks: stocks continue ruling market, so it’s good idea to keep an eye there while trading, and despite we have two “heavy” days ahead, I think we are at the beginning of a return to ”normal” market, meaning majors should stop moving 1000 pips a day, not tomorrow, not next Monday, but surely in the short term.
Today we have the follwing news, East Time:
08:15 USD ADP Non-Farm Employment Change (Expected -100K Previous -8K)
10:00USD ISM Non-Manufacturing PMI (Expected 47.3 Previous 50.2)
10:30 GBP CB Leading Index m/m (Previous -0.6%)
10:35 USD Crude Oil Inventories (Previous 0.5M)
Be back in a few minutes. Have a great day!
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