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July 24th - PMI data showed that U.S. business activity expanded at its fastest pace in eight months, with strong domestic service sector demand offsetting the impact of slowing factory production, increased supply chain delays, and rising costs. The preliminary reading of the S&P Global Services PMI for July rose to 53.6, the highest level since November 2025, driven by demand in the hospitality and other service sectors boosted by the World Cup and July 4th Independence Day celebrations. The preliminary reading of the S&P Global Manufacturing PMI for July fell to 53.8, the lowest level since March. Chris Williamson, chief business economist at S&P Global Market Intelligence, said, "Supply chain delays continued to worsen in July, accompanied by renewed price pressures, constraining economic growth and suppressing demand. Recent events in the Middle East will only further exacerbate concerns about supply chains and prices, increasing downside risks to the near-term economic outlook, suggesting that the recovery in July may not be the beginning of an improving trend."The annualized total number of new home sales in the United States in June will be released in ten minutes.The preliminary reading of the S&P Global Services PMI for July in the United States was 53.6, below the expected 51.5 and the previous reading of 51.2.The preliminary reading of the S&P Global Composite PMI for July in the United States was 53.6, below the expected 51.8 and the previous reading of 51.9.The preliminary readings of the S&P Global Manufacturing and Services PMI for July in the United States will be released in ten minutes.

Currency Trading Forex

Drake Hampton

Mar 24, 2022 14:28

Forex currency trading may be the correct choice for you if you're seeking for a very liquid trading environment that allows you to speculate on a practically 24/6 currency market. Forex trading should be confined to risk money, and while the off-exchange foreign currency market has certain unique hazards, it can present a chance for educated traders to benefit from a very busy worldwide market.


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The Basics of Forex Currency Trading

It is a worldwide market for currency exchange between governments, as well as for individual investors or dealers. As the name indicates, the retail off-exchange forex market does not take place on an exchange, which means that there is no physical site where all currencies are traded.

 

A critical and fundamental point to grasp about forex is that it is traded in pairs. This implies that you are simultaneously purchasing and selling a currency. For instance, you initiate a trade in the European euro versus the US dollar, or EUR/USD. This indicates that you expect the euro will appreciate in value relative to the dollar. On the other hand, if the euro depreciates against the dollar, you risk losing your whole investment, or even more. If the euro increases in value and you wish to benefit, you would "unwind" your position by selling the euro and purchasing the dollar. That is a fairly simplified example, but it should illustrate how forex works in general.

Considerations

Consider the following before engaging in forex trading:

 

Leverage: Using a little quantity of money to control a huge investment. This enables high potential returns, but caution should be exercised because it can also result in significant losses.

 

Market that operates nearly 24 hours a day, six days a week: Respond quickly to market circumstances and economic events by trading almost 24 hours a day, six days a week — from Sunday to Friday.

 

Liquidity: Forex is an extremely busy market with an enormous volume of trading, particularly in the largest currencies. Trading some of the more esoteric pairings may raise worries about liquidity.

 

Forex currency pairs are exchanged in 10,000-unit increments with no fee. However, the bid/ask spread reflects the cost of the trade.

Establishing an account

To begin forex trading with Top1 Markets, you must first establish a basic account. Individual or joint accounts are available for the Standard account. Additionally, you must request for and receive approval for margin rights on your account.

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