We are thrilled to see phenomenal results from our Global Trader Programme student Amara who will be joining the Deutsche Bank trading team!
‘I can say that without this very valuable experience I would not have gotten the job. Your coaching and feedback have made me become a more-equipped trader and made me confident in trading on a larger scale.’
Alphachain first welcomed Amara back in October 2020 on the Global Trader Programme and after 3 months of training has since then moved onto trading one of our live funded $15,000 account.
Big congratulations and best of luck from all the Alphachain team!
Asian equity markets traded cautiously as major bourses and US equity futures lacked direction heading into month-end. Going into the week ahead, participants await outcomes from key events including the BoJ, FOMC and US GDP figures.
Last week, the DXY continued lower for the third straight week breaking below 91.50 as market participants sought risk elsewhere. Conversely, EURUSD extended beyond 1.2000 and was lifted on upbeat PMI data where service sector figures crossed into expansionary territory. The ECB meeting did little to spur market action as participants digested comments from ECB President Lagarde on the economic recovery amidst the battle against the virus. On the other hand, the Canadian Dollar was lifted following its monetary policy meeting where the Bank lowered its QE by 1bln CAD per week whilst also revising the GDP and growth forecasts noting that the economy is recovering gradually, and commodity prices have supported growth. Going into the week, USD/CAD trades below 1.2500.
Markets in Asia began the week cautiously and US equity futures marginally retraced lower from record highs with participants on edge ahead of further earnings updates this week, and as Covid-19 uncertainty lingered after the number of global updates this week increased by over 5.2mln, which was a record despite the ongoing vaccination drive.
Last week, the RBNZ maintained the OCR at 0.25% whilst keeping the funding for lending programme unchanged as expected. The bank continued to reiterate their commitment to lowering the cash rate if required as they continue to monitor inflation and employment objectives over the course of the year. Labour market figures in Australia beat expectations as the unemployment rate dropped to 5.6 % from 5.8%. The Australian Dollar benefited from the weaker greenback as the major pair went on to breach the 0.7700 handle whilst GBP/AUD dropped by over 0.5%.
Big things are happening at Alphachain this month.
Here are our top 2major company updates so far:
We now offer weekend trading in Crypto assets
Trade Cryptos 24/7 – 7 days a week! Now is the time to learn to trade the financial markets and make that second stream of income a reality. Our mentors and global community of traders are always willing to help at all times.
We have re-listed Ripple (XRP) trading for all traders
We are one of the first firms in the UK to re instate Ripple Trading! Ripple has gained an incredible 250% last month and our Traders are looking forward to trade XRP again.
Markets in Asia began the week subdued despite markets stateside closing at record levels last week. Looking to the week ahead, market participants await key data releases including Chinese trade data as well as CPI and Retail Sales from the US.
Within Europe, rising Covid-19 cases continue to threaten the bloc’s recovery attempts as German Chancellor Merkel’s coalition begins to draft legislation to transfer authority to impose restrictions back to the Federal Government from regional leaders. A fresh lockdown is due to be imposed which will see all non-essential retail stores close. Across the channel, the UK transitioned into the next phase of the easing blueprint as non-essential retail, pubs and sporting facilities will reopen today. This comes as the UK continues to plough ahead with their vaccination rollout which has seen over half of the population vaccinated at least once. With footfall set to increase over the next few months, businesses will be eager to welcome customers after having endured another shutdown over the past three months. Within markets, last week saw Sterling slide across the board as the FTSE100 broke to new monthly highs breaching the 6,900 handle. The index still lags behind most major indices having not recovered from its pandemic drop.
Fed Chair Powell continued with his dovish stance last week as he outlined that the US economy is now at an ‘inflection point’. The Fed Chair pointed to the fact that the risk to the economy still remains the resurgence of the virus whilst reiterating that reopening too quickly could do more harm than good. Equity indices continues to digest the overwhelming optimism as the S&P 500 led the charge to close above the 4,100 level for the first time ever.
Advancements in digital technology have changed the landscape of a number of industries, and trading is no different.
In today’s trading environment, traders are likely to encounter quantitative trading at some point. Quantitative trading includes high frequency trading and algorithmic trading and involves learning coding languages and programming.
This has set new traders on a path to learn coding for trading, but has also sparked a debate about the best programming language for financial trading.
Markets traded mixed as the region failed to fully maintain the momentum that followed stateside where that S&P 500 and DJIA extended on fresh record highs as market participants digested a stronger than expected NFP Jobs report which was followed up with a beat on ISM Services PMI data.
European equities began the shortened week with gains as the region attempted to catchup with their counterparts. Within Europe, Autos, Banks and Travel & leisure led the way whilst more defensive sectors; Healthcare and Telecoms lag behind as risk appetite picks up
Within FX, the greenback is on the back foot against majority of the G10 space. This comes as the asset lost ground over the Easter break as market participants sought out riskier assets. Looking ahead to the week financiers will digest comments from Fed Chair Powell as well as the release of the FOMC Meeting minutes.
Markets in Asia traded positively as the region picked up on last week’s late surge stateside although bullish momentum was somewhat capped with participants cautious heading into the month and quarter end as well as Friday’s NFP jobs data and impending Easter holiday closures.
The Euro continued to edge lower last week on a firmer US dollar. The single currency continues to disappoint with growing concerns of a third wave circling the bloc. German Chancellor Merkel threatened the use of Federal law to toughen pandemic restrictions given that she is not convinced that the current measures will slow down the rise in cases. EUR/GBP slumped to new yearly lows after giving up support around 0.8550.
On the other hand, Sterling has led the charge as market participants look towards the quarter end. With stage 2 of the nation’s easing methods being implemented and a strong vaccine rollout, the currency continues to edge higher against safe haven assets. GBP/JPY has reclaimed the 151.00 handle after initially slumping below 149.00 last week.
Cryptoassets started the week with gains as Visa announced that they will permit payment settlements using cryptocurrency. At the time of writing Bitcoin is up over 3.5% after reclaiming the $57,000 handle.
Markets in Asia began the week mixed as the region continued to trade indecisively following on from last Friday’s sour US-China talks. The ASX 200 was down 0.7% whilst the Nikkei 225 closed lower by 2.1% after suffering losses following on from the BoJ policy tweaks as well as the announcement that foreign spectators will be banned from attending the Olympics in Tokyo.
Last week saw the FOMC maintain the FED rate as expected whilst maintaining the QE at $120bln per month. The median dot plot projection is still set to forecast no rate hikes through to the end of 2023 despite four officials now projecting a hike in 2022. Fed Chair Powell continued to remain dovish and outlined that complacency is not an option despite avoiding the worst possible economic outcomes. Going into the week ahead, market participants will be eyeing Fed Chair Powell once again as he is set to speak at least three times along with a number of FOMC members.
Commodity trading is one of the earliest types of trading to exist. Trading commodities can be dated as far back as 4500 BCE in Sumer – the city we now call Iraq – where a commodity market exchanged clay tokens for goats.
Commodity trading even helped establish successful historical empires who were found to have implemented trading systems to facilitate the trading and exchange of commodities.