Forex Trading Library

What Should Traders Be Watching on Twitter?

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Twitter has proven to be a good source of information for traders in almost every financial market. Prominent world leaders, politicians, economists, and even professional traders have a liking for this platform. This is where they share important market updates, trading strategies and individual opinions on world events.

If you are a trader, here are some important things to look out for on Twitter to remain updated on the current market scenario.

Trader Profiles

Some of the most highly skilled and experienced professional traders are on Twitter, where they share plenty of charting analysis, indicators, market data, and strategies. You can access videos about how to implement a particular strategy on popular terminals like MT4 and MT5.

PeterLBrandt, a legendary classical chartist who has almost 222K followers is considered one of the pioneer authorities on the nuances of studying charts to analyze historical trends and make price forecasts. There are others like Rayner Teo, a known position and swing trader, who regularly shares inspirational quotes, trading tips, psychological advice and such like. Tom Dante is a London-based forex and futures trader, with a follower base of 50k.

World Leaders Active on Twitter

Believe it or not, the impact of statements made by world leaders has far-reaching effects on the financial markets. In recent times, US President Donald Trump has been quite active on Twitter, sharing his pleasure and displeasure regarding market events and US policies. His tweets have had profound effects on the markets. The US is the biggest economy in the world, with the US dollar being the world’s reserve currency. In the present scenario, when America is part of an ongoing trade war with countries like Canada, China, and Mexico, the POTUS’ Twitter feed should be watched carefully.

Speaking of trade wars, Canadian President Justin Trudeau forms the link to the other side of the border, which is already imposing retaliatory tariffs on US goods.

Russian President Vladimir Putin is also quite active on the platform. He has recently tweeted about his speech in the Eastern Economic Forum and his meetings with the CEO of Sberbank. The Russian PM Dmitry Medvedev has over 1.06 million followers on Twitter.

Information on Brexit

Britain has decided to leave the European Union, and the decision will affect the global economy on various levels. In November 2017, the Bank of England predicted that the level of investment would be around 25% lower in relation to the pre-referendum forecasts for 2019. Thousands of jobs will be lost. Many industry bodies, economists and consultants are publishing reports on Twitter, about the possible impacts of new tariffs and movement of people across the border.

For currency traders, especially those investing in the GBP and euro, keeping track of European policies is important. Donald Tusk is the president of the European Council, known for his hard-hitting tweets on the UK’S Brexit negotiation process.

Another reliable source of information is the Twitter profile of Simon Baptist, the Chief Economist and Asia Managing Director of the Economist Intelligence Unit. You can also follow Maxime Sbaihi, the European Economist at Bloomberg.

Almost all major financial institutions, including financial media giants, have a Twitter presence. The platform has an active cryptocurrency community. For someone who wants to keep tabs on global market trends, Twitter is the place to go.

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