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Abstract:We have been receiving numerous reports from victims. Worryingly, a great portion of people involved in the scams have no basic concept of what FOREX trade is. So there is an urgent need for a broad grasp of the basic knowledge of FOREX, especially when ignoring and misunderstanding the rules of the currency market are believed to be a tiny problem among the local investors.
We have been receiving numerous reports from victims. Worryingly, a great portion of people involved in the scams have no basic concept of what FOREX trade is. So there is an urgent need for a broad grasp of the basic knowledge of FOREX, especially when ignoring and misunderstanding the rules of the currency market are believed to be a tiny problem among the local investors.
On the economic front, countries are the major players in the FOREX world. They are various in size, economic pattern and political system. These countries establish their monetary system just like listed companies issuing stocks. People interested in the stock market normally prefer the companies with high dividend payments, likewise, the currency of a certain country with relatively high yield is more popular in the FOREX market. Thus, the terminology of interest rate in currency exchange can be interpreted as the dividend payments of listed companies, in other words, it is the rate of return from your deposit in year basis.
The exchange rate of the South African Rand to the U.S. Dollar is 16.87. The number is facilitated by the supply-demand effect. The FOREX market is driven by the interaction among the countries that generate the currency inflow and outflow. When ZAR outpaces USD in demand, the exchange rate of ZAR to USD recovers. If the market moves in an opposite way, the exchange rate will go advantageously towards USD. Other factors like geopolitics, war situation, economic stability and trade outlook will also change the equilibrium of the market. But the mechanism is not invariable due to the supply-demand effect. Sometimes geopolitical force drags down the demand for a certain currency, whereas the exchange rate stays at the average level due to the solid economic outlook. Therefore, it will bury the opportunity of making money if just analyzing certain factors rather than noticing aggregate effects on the market .
There are some characteristics embedded in currencies. The U.S. dollar and Japanese yen are internationalized currencies showing less volatility compared to others. They are both recognized as the safe haven currencies due to the solid economic prosperity and international environment. But there are some other currencies, such as the Australian dollar, which rely on the trade sector. Australia has dominated the global export of iron ore. Over the past ten years, Australia's exports of iron ore have increased by more than 200 percent. If a country is interested in engaging in the iron ore trade with Australia, it has to make the deal by paying the Australian dollar. So the popularity of AUD is highly correlated with the trade volume of iron ore.
WikiFX, a third-party forex broker inquiry platform, has collected the information of 19,000+ forex brokers, 30 regulators, and helped victims recover over 300,000,000.00 USD. WikiFX App provides functions like forex brokers inquiry, calender, forex news express, calculator and other trading tools to help you get trading done with ease.
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Declaration:
The evidences in WikiFX exposure articles are verified via the following processes:
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Recently, the sterling suffered a sharp loss in the wake of the fact that the UK-EU trade talks are teetering on the brink of collapse. It comes because the UK is preparing to legislate to deal freely with Northern Ireland's freight under the expectation that a trade deal with the EU is beyond reach. Once it succeeds, products from Northern Ireland will have unfettered access to the UK's market without any customs declarations as the UK has the power to decide which goods are subject to EU tariffs, but the EU's subsidies involving Northern Irish firms may not be active.
There is a good strong buy setup portending for this pair as market participants seem bullish on a slow motion soaring euro and somehow ease back measures and slow recovery of some of the Euro block members.
WikiFX| Daily F.X. Analysis, Sept 15 |Arslan Ali Butt-KOL
XAU/USD is traded higher at $1,966 level versus $1,962 yesterday’s high and it seems poised to approach the $2,000 psychological level soon if the USD depreciates further against its rivals.