FTMO presents its latest weekly market recap, offering a comprehensive overview of significant economic indicators while emphasizing the importance of strategic trading. The report highlights that the anticipated Santa Claus Rally has not yet occurred this year, attributed primarily to the Federal Reserve's recent interest rate policy.
The recap notes that the UK GDP growth rate for the third quarter of 2023 recorded a disappointing 0.0% quarter-over-quarter and a year-over-year increase of 0.9%, missing forecasts of 0.1% and 1.0%, respectively. In the United States, contrastingly, the GDP growth rate for the same quarter surpassed expectations at 3.1%, compared to the forecast of 2.8%.
Additionally, FTMO traders are reminded of key trading strategies that bolster long-term success. Patience is highlighted as a critical virtue, recommending traders focus more on the quality of trades rather than immediate financial returns. This aligns with the firm’s emphasis on managing risk by knowing the exact amount to risk per trade and adhering to strict stop-loss measures.
The recent report indicates that existing home sales in the USA increased by 4.8% in November, climbing to an annualized rate of 4.15 million, surpassing forecasts. In other economic data, the PCE Price Index showed slight variations from expectations, with the actual annual increase at 2.4%, just below the forecast of 2.5%.
FTMO remains committed to providing traders with essential insights and tools to navigate the markets effectively. The firm encourages all traders to incorporate these insights into their trading strategies for improved outcomes.