During the past week the Forex market had been dominated by the impact of economic data releases from major economies. The US and European Central Bank both released their latest monetary policy decisions, which had a significant impact on the currency markets.
Federal Reserve Chairman Jerome Powell emphasized that the Fed still has more work to do and added that the disinflationary process has begun. The recent data from the U.S. Bureau of Labor Statistics showed that the economy added an impressive 517,000 jobs and the unemployment rate decreased to a low of 3.4%, which hasn’t been seen since May 1969.
The UK economy managed to avoid a recession and remained stagnant in the last quarter of 22’. The numbers released on Friday showed how the G7 economy avoided a technical recession which is usually defined by two consecutive quarters of shrinking output. While some might be led to believe in a stronger than expected economy after all, others fear that the recession is only delayed rather than completely avoided.
The week ahead the focus will be on economic data releases from both the United States and Europe. The US Consumer Price Index will confirm the next steps outlined by the FOMC previously. Eurozone GDP and CPI levels for the UK are expected to have a significant impact on the currency markets.
Please remember to close the exposure in the directly related pair to the news event. The exposure must be cleared 1 hour before the event and the position can be opened again from 30 min after the data has been released, in case of a speech positions can be reopened after the speech is over.
TUESDAY, FEBRUARY 14
10.00 EUR Gross Domestic Product
13.30 USD Consumer Price Index
WEDNESDAY, FEBRUARY 15
07.00 GBP Consumer Price Index
Ability Challenge is a cutting-edge program designed for traders who are looking to get funded with us through a 2-step evaluation on a demo account. This is a opportunity to showcase your trading abilities in a less restricted and more dynamic environment.
Not only do you have the chance to demonstrate your proficiency, but you can take home a generous profit share of 75% on a monthly basis on the live stage. This is an ideal route to achieving success on a larger scale. So take the challenge and unlock your trading potential today!
The Hidden Talents Program is developed to help guide and nurture curiosity into trading through an intensive one-to-one training with our fully qualified trading mentor. The program is not based upon previous experience or academic qualifications, but on the natural intellect and willingness to become a profitable trader.
With a careful selection process, the Hidden Talents Program is designed to help identify, recruit and develop the next generation of raw talent, who are eager to demonstrate their capability in investing and trading the financial markets.
If you have a profitable strategy and good money management you can prove your trading ability, starting the challenge according to the account size you’re comfortable trading with.
To start the challenge, choose the account size you’re comfortable trading with and proceed to the checkout, as soon as we receive your payment you’ll get an email with the login details and you can start trading.
You now have two options. You can either continue managing the account size you signed in for and share profits 75-25 on a monthly basis or you can request to move onto the Funded Trader Program starting with the account size you passed the challenge on. (Note that if you move to the FTP you’ll need to respect its rules, parameters and premium account fees.)
Yes, you can trade news events in the two phases of the challenge.
On ability, you can trade Forex and certain Commodities and Indices which are as follows: XAUUSD, GER30, US30, US500 and NAS100.
On the Ability program, you can withdraw your share of profits on a monthly basis
Traders will need to demonstrate consistency within their results in regards to trade length and lot size in order to pass the 7 minimum trading days. For example if a trader opens one position at 15 lots on one day, then 6 positions at 0.1 lot on 6 other trading days, this will result in failing the Ability Challenge. The aim of the Ability Challenge is to demonstrate consistency that can later be applied to a live account and not to reward a gambling mentality and style of trading. Please see our T&C’s regarding this clause.
Breaking one of the rules will automatically invalidate the account and remove you from the challenge. You can always try again by purchasing a new Ability Challenge account.
You can process payment via Credit/Debit card, Paypal, Bank Transfer, Open Banking and Coinbase.
As soon as we receive the payment you’ll receive your login details automatically via email.
The fees will cover some of the trading and business costs and will also hold the traders accountable although they are operating on a demo account, simulating real-life trading conditions.
You’re entitled to a refund after passing the two phases challenge when you become an Audacity Trader. Your refund will be processed together with your first payout.
We do not work with a retail broker. Even on the two phases challenge you’ll be working with a demo account which is a retail version linked to our Liquidity Provider
You can hold positions overnight and over the weekend during the two phases of the challenge.
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