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The forex market is always active and constantly changing. As a trader, it is crucial to keep abreast of the latest developments in order to make informed decisions. In this analysis, we will be looking at the market trends for 26 June 2018.
1. US Dollar (USD)
The US dollar has been experiencing a lot of volatility in recent times. This is largely due to the ongoing trade tensions with China. The currency is also being influenced by the Federal Reserve’s interest rates, which are expected to rise. As a trader, it is important to keep an eye on the latest developments in the US economy and any news related to the trade disputes.
2. Euro (EUR)
The euro is one of the most actively traded currencies in the forex market. It has been experiencing mixed fortunes in recent times. The currency has been affected by a number of factors, including the Italian political crisis, Brexit negotiations, and the ongoing trade disputes. As a trader, it is important to keep an eye on the latest developments in the European economy.
3. Japanese Yen (JPY)
The Japanese yen is considered to be a safe haven currency. It is often used as a hedge against market instability. The currency has been experiencing a lot of volatility in recent times due to the ongoing tensions in Korea and the trade disputes between the US and China. As a trader, you should be aware of any developments that could affect the yen’s value.
4. British Pound (GBP)
The British pound has been experiencing a lot of volatility in recent times due to the ongoing Brexit negotiations. The currency is also being influenced by the Bank of England’s interest rates, which are expected to rise. As a trader, it is important to keep an eye on the latest developments in the UK economy and any news related to Brexit negotiations.
5. Canadian Dollar (CAD)
The Canadian dollar is often referred to as a commodity currency, as it is heavily influenced by the country’s natural resources. The currency has been experiencing mixed fortunes in recent times due to the ongoing trade disputes with the US. As a trader, it is important to keep an eye on the latest developments in the Canadian economy and any news related to the trade disputes.
6. Australian Dollar (AUD)
The Australian dollar is another commodity currency, heavily influenced by the country’s natural resources. The currency has been experiencing mixed fortunes in recent times due to the ongoing trade disputes with the US. As a trader, it is important to keep an eye on the latest developments in the Australian economy and any news related to the trade disputes.
7. Swiss Franc (CHF)
The Swiss franc is often considered to be a safe haven currency. It is heavily influenced by the country’s reputation for stability and neutrality. The currency has been experiencing mixed fortunes in recent times due to the ongoing tensions in Europe and the trade disputes between the US and China. As a trader, you should be aware of any developments that could affect the franc’s value.
8. New Zealand Dollar (NZD)
The New Zealand dollar is another commodity currency, heavily influenced by the country’s natural resources. The currency has been experiencing mixed fortunes in recent times due to the ongoing trade disputes with the US. As a trader, it is important to keep an eye on the latest developments in the New Zealand economy and any news related to the trade disputes.
Conclusion
In conclusion, the forex market is always active and constantly changing. As a trader, it is important to keep abreast of the latest developments in order to make informed decisions. The currencies listed above are just a few of the many factors that can influence the market. Stay informed and be prepared to act quickly when necessary.
FAQ
Q: What is forex trading?A: Forex trading involves buying and selling currencies with the aim of making a profit.Q: Is forex trading risky?A: Yes, forex trading is risky. It is important to have a good understanding of the market and to be aware of the risks involved.Q: Can I make money from forex trading?A: Yes, it is possible to make money from forex trading. However, it requires a lot of practice, knowledge, and experience.Q: How do I get started with forex trading?A: You can get started with forex trading by opening an account with a reputable broker and practicing with a demo account.Thank you for reading this article. We hope you found it informative and useful. Please check out our other articles for more insights into the world of forex trading.