The British Pound had a very volatile trading week which saw the British currency rally nicely, drop sharply and rally again today. Plenty of economic data was released during the week so far and forex traders have reacted to each individual report which is why the British Pound saw so much activity. Look at the GBPUSD H1 chart and you can see the seesaw trading the British Pound was exposed to. Some US data also contributed to the hectic trading, but overall it appears that there are sign of strength in this currency. On Monday two economic...
When it comes to trading forex there are plenty of factors required in order to succeed. The first step is to spend the proper time on education in order to understand the basics. This step should be taken very serious as it is important to build a strong foundation. From here forex traders can start developing their trading strategy which will allow them to navigate the forex market with much more ease and confidence. A strict risk management profile needs to be selected which will protect bottom line and shield the fore portfolio from...
Contract for difference or CFD is a financial instrument by which the trader has the opportunity to earn money, depending on fluctuations in the value of the underlying asset, which is the basis of the contract, by not having an asset itself. In the role of basic asset can be commodities, stock indices or various goods. The magnitude of earnings of a trader depends on the difference between the opening and closing prices; just like in Forex market. CFD is a derivative asset. This financial instrument is on the market long enough, but it so...
Last Friday forex traders received the non-farm payrolls reports or NFP report for November and the US Dollar launched a strong rally after the report. The NFP report showed that 321,000 jobs were added in November. This was far above expectations where the consensus called for the addition of 230,000 jobs. The unemployment rate remained unchanged at 5.8%. Average hourly earnings increased 2.1% year-over-year and the average hourly workweek rose to 34.6. While the headline figure was a positive surprise most of the data released does raise...
It seems that the dominance of the American dollar continues. US employment growth in November at 314,000, along with some statements of representatives of the ECB, contributed to the fact that the US dollar index rose to the heights of 2006. A move above 90 is very possible and if the rate of strengthening of the dollar continues, Forex market will need a miracle to slow the inexorable rise of the U.S. currency. But a strong dollar is not such a no problem thing, as noted in its quarterly review of the Bank for International Settlements (...
