Market Overview

Who Is Thomas Jordan?

Who Is Thomas Jordan?

On Thursday, December 11, 2014, at 3:30 AM ET, a man named Thomas Jordan will speak in Switzerland.

If you’ve never heard of this man, you may wonder why you should care or if he has anything to do with your trading.

Thomas Jordan has had many titles during the past few years.  He has been known as a board member and Vice Chairman of the Swiss National Bank (SNB) from May 2007- January 2011.  

In January of 2011, he was named Acting Chairman until April 2012.  Since that time, he has been the Chairman of the SNB Governing board which sets short term interest rates.  

As the acting head of this board, he has a major influence over the value of the Swiss Franc, so if you happen to trade Forex, and more specifically USD/CHF, what he says may have an effect on your trading day.

Traders watch what he says closely because there are often subtle hints dropped regarding future monetary policy and interest rate shifts.  Whatever he says may determine a short-term positive or negative trend.  

The level of importance of this news release is medium meaning that it could affect your trade, especially if you are trading USD/CHF.

The SNB governing board is also releasing a report telling what the target range for the LIBOR rate will be.  Any changes in the short term interest rates are viewed by traders as the primary factor in the value of currency.

This report has a low level of importance. It is forecast to have a reading of 0.13%.  

There is not a previous reading given, however, if the rate is higher than expected, that would be positive for the CHF.  If it is lower than expected that would be regarded as negative for the CHF side of your trade.

If you would like to trade this news report, look for an Iron Condor using Nadex Spreads on the USD/CHF.  

You can enter as early as 11:00 PM ET on Wednesday, December 10, 2014.  The expiration time you are looking for is 7:00 AM which should give your trade plenty of time to make its move with a minimum profit of $30.

Remember to be sure that you buy a lower spread and sell an upper spread having the floor of the upper equal to the ceiling of the lower.  

It is possible to leg into an Iron Condor, if necessary.

To learn more about how to place news trades or to register for training courses, go to Apex Investing Institute offers free education, and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the chat rooms, take advantage of trade signal services, have key indicators and access the Apex Forum. The forum content is updated daily and includes over 9000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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