FTMO has closely observed and reported on recent economic indicators that are pertinent to market participants. In July, the UK's monthly GDP showed no change from the previous month, with actual figures reported at 0.0%. Year-over-year growth remained consistent at 1.4%, slightly below the forecast of 1.5%. Furthermore, the three-month average for GDP indicated a modest increase of 0.2%, compared to a previous value of 0.3%.
In the United States, initial jobless claims saw an uptick, with the most recent data showing 263,000 claims against a forecast of 235,000. This figure has been revised from an earlier number of 236,000. On the inflation front, the core inflation rate remained steady at 0.3% month-over-month and 3.1% year-over-year, in alignment with analysts' expectations. Conversely, the Producer Price Index (PPI) reported a decline of 0.1%, falling short of an anticipated increase of 0.3%.
In Europe, the European Central Bank (ECB) maintained its interest rates, with both the main rate and the deposit facility rate reported at 2.15% and 2.00% respectively, reflecting a stable monetary policy environment. As these developments unfold, FTMO emphasizes the significance of long-term strategy over impulsive trading. Insights gathered from traders highlight that consistency and discipline are essential components for success in the evaluation process.
FTMO's ongoing commitment to supporting traders is evident as it marks a significant milestone with payouts now exceeding $23 million in a single month, a remarkable achievement since its inception in 2015 with an initial payout of $150.