Thread: Forex in the News

Thanks for that analysis!

A good example how global events affects the Forex market and currencies...
the USD and the JPY rose and the Mexican Peso fell on concern about the increase of swine flu, which has killed 103 people in Mexico and infected people in the Canada and US. The WHO declared the flu a “public health emergency of international concern” that can become a deadly disease or global occurrence of serious disease. The Mexican Peso drop down 2% against the USD in Asian trade, though Mexican Finance Minister Agustin Cartens tried to support markets, saying the impact on financial system would be “transitory”.

The Reserve Bank of Australia held interest rates today at 3% after the members said that signs that the recession has grown in Australia are not present and in fact, there are positives that can be interpreted as strength. The Australian Dollar has benefitted lately as investors tested their risk appetite and moved to the higher yielding Aussie Dollar in order to lock in some larger profits.

At 11:40PM GMT, in addition to being up to the Euro, the Australian Dollar rose .45% to the US Dollar to .7421, up .65% to the Yen to 73.52, down .06% to the Pound to 2.034 and down .3% to the New Zealand Dollar to 1.2791.

Eight of Asia’s 10 most-active currencies excluding the Yen strengthened against the USD and the MSCI Asia Pacific Index of stocks reached a 7-month high after Treasury Secretary Timothy Geithner said outcomes of stress test will reassure investors. The South Korean Won, which led the rally, increased to the strongest stage this year after the Central Bank reported the top foreign-exchange reserves since September.

The Forex plays a very important role in the world financial system and there will always be an incredible requirement for the swapping of currencies. The popularity of trading Forex market has been fascinating anyone who would like to earn more money, because it is three times bigger than stocks and futures markets combined together. As long as there is Global trade, there will be a Forex market. The FX market has to survive so that Germany can sell commodities in the United States and be able to collect Euros in exchange for US Dollar.

Of course the Forex market is a necessary medium for international trade, it always will be unless there is a universal currency.

It seems like new news sites are popping up everyday! Anyone know which are the best ??

Yea... I prefer FXstreet, actionforex, my forex blogs and Finexo.com for all daily updates and news.

See ya

Originally Posted by cozy

Yea... I prefer FXstreet, actionforex, my forex blogs and Finexo.com for all daily updates and news.

See ya

FXstreet does have excellent news and information on trading.

Hi, ForexExpert, how do you think of Forex AutoMoney that display in you promotional line ?? Don't you think that this is too good to be true ........

Regards,
Kevin