The currency market is one of the most sophisticated markets in the world, attracting trillions of dollars per day in volume from central banks, corporations, hedge funds, and individual speculators. It operates on a 24-hour basis, beginning with trading in Wellington, New Zealand, and continuing on to Sydney, Australia; Tokyo, Japan; London, England; and finally, ending with New York before the whole cycle begins all over again.
Although the currency market exists mainly for importing and exporting activities and for corporations to hedge their foreign exchange risk, like all markets, there are speculators. In the Forex market, it happens that 80% of all trading activity is speculative in nature. Here are five key factors that move currency markets:
Although the currency market exists mainly for importing and exporting activities and for corporations to hedge their foreign exchange risk, like all markets, there are speculators. In the Forex market, it happens that 80% of all trading activity is speculative in nature. Here are five key factors that move currency markets:
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