Reasons Forex Traders Fail

Forex trading can be an extremely profitable venture, but it is also true that a significant percentage of traders fail to achieve consistent success in this market. Why do forex traders fail? There are several common reasons that contribute to their lack of success. Let’s explore some of these reasons:

Forex Today: Eyes on BoC rate decision and US employment data

The US Dollar (USD) outperformed its rivals for the second consecutive day on Tuesday, with the USD Index climbing to its highest level in nearly two weeks. As investors await ADP Employment Change data for November, the USD Index consolidates its weekly gains near 104.00. The US economic docket will also feature Goods Trade Balance for October and Unit Labor Costs for the third quarter. The Bank of Canada (BoC) will announce its interest rate decision in the second half of the day.

Forex Today: Dollar momentum continues despite US data

Data from the Eurozone, including Retail Sales and German Factory Orders, came in below expectations. These figures continue to fuel speculations about a rate cut from the European Central Bank (ECB) as early as the first quarter of next year. The German 10-year yield fell to 2.19%, the lowest since May. This unfavorable context has weighed on the Euro, which dropped to its lowest level in three weeks against the US Dollar.