Fuelled by positive macroeconomic data releases and optimistic remarks from Fed officials, the US Dollar extended its rally against a basket of currencies, surging to a 6-weeks high and pushing the US Dollar Index (USD) to its highest level since the beginning of the year, surpassing 104.00 on Friday.
The release of US CPI (inflation) data on Tuesday revealed that annualized inflation had experienced a slight dip, only declining from 6.5% to 6.4% over the previous month, instead of the projected 6.2%. This development has bolstered the prospects of rate hikes over the near future, leading to a rally in the Dollar, while simultaneously causing a selloff in stock markets.
Thursday’s reports came on the heels of data released earlier this week that showcased solid growth in US retail sales for January, coupled with indications of persistent inflation. This has fueled concerns that the Federal Reserve may need to keep higher interest rates for longer beyond initial expectations.
The release of recent inflation figures for the UK, indicating a rapid pace of disinflation, has significantly impacted GBP/USD. As the ability to control and manage inflation rates plays a crucial role in the UK’s economic recovery, the recent consumer price index (CPI) data provides insight into the reasons for GBP’s struggles. With the expectation of a swift reversal in rates from the Bank of England (BoE) once inflation is under control, this development is of utmost significance. Despite a modest rise of 0.5% in monthly UK retail sales, the impact on the pound remains insignificant.
This week’s macro focus will be centered on two key events: Wednesday’s release of the Federal Reserve’s recent meeting minutes and Thursday’s revised estimate of US fourth-quarter GDP. These events are highly anticipated by investors and are expected to have a significant impact on market movements. Keep a close eye on the developments and stay ahead of the curve by leveraging the latest market insights to inform your trading decisions.
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.
WEDNESDAY, FEBRUARY 22
7.00 PM USD FOMC
THURSDAY, FEBRUARY 23
1.30 PM USD Gross Domestic Product
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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