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Market reacts to the President's speech on April 1.
The U.S. President Speaks
Last evening, on April 1, the President of the United States spoke about the war with Iran and how the U.S. objectives were nearly complete, and he would “hit them extremely hard over the next 2-3 weeks.” After the speech, oil prices went up and U.S. stocks went down. The President’s speech didn’t help fear and uncertainty, and the market relects it. After the open this morning, there has been a slight rebound. News impacts the whole market, and the U.S. President can have a significant impact on the worldwide market. This is a reminder to be mindful of the impact of news events and the volatility that can come with it. Manage your risk so the movements aren’t disatrous. I also need to remind myself that the stop losses can be set to let the market move up and down. Losses are expected, but I also don’t want to have stops so tight that I lose my chance at profits.
Long Weekend
We are also heading into the Good Friday weekend. The stock markets will be closed on Friday and for the weekend. Forex is techinically open, but with the holiday closure, I expect low liquidity. Crypto markets are also still open, but there might be lower liquidity there as well.