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French Industrial Production fell by a much wider than expected -1.4% in the month of April sharply below estimates of -0.3% contraction. The month’s prior reading was revised downward to -1.7%. The decline in April marked the ninth consecutive month of contracting production in Eurozone’s second largest economy.
appointing news from France would not carry much impact on the market, but given the fact the French data follows on the footsteps of horrid German Industrial Production numbers last Monday which printed at -1.9% vs. 0.0% forecast, the weak performance of EZ industrial sector suggests that higher exchange rates and tepid global demand will be a drag on European growth going forward.
Source: Fx360.com
do u place stop loss for your trades? I heard brokers do stop hunts. So if your buying a currency and have a stop loss at 1.5000, will u place the stop loss at 1.4998 for the spreads?
Hi shaun,
You don’t have to worry about stop hunting. Forex it’s a huge market and usually you are not going to get in troubles with all that staff.
You SHOULD always put stops for your trades.
If you are buying your stop order must be below the bid as you are selling on your order (the price you see on the charts)
If you are selling your stop order must be above the ask as you are buying on your order (the price you see on the charts plus the spread)
There is a very educational way to learn it: Open a demo account, go to Ticks charts (with bid and ask lines) and practice there placing orders. You’ll see it clearer.
Thanks !!
i hear many brokers scamming customer through stop hunt and sometimes the stops are not effective as we can lose more
Hi shaun,
In some cases, with some small broker and in some low liquidity market condition you may get in troubles. For example is very dangerous positioning and placing tight stops at the news announcements, but in general I DO recommend you place stop loss orders.
Thanks.