INTRODUCTION TO FOREX TRADING for NEW TRADERS

Dear Viewers,

Forex Trading has become a very popular money-making system. Since Forex trading has become very popular and trendy nowadays and there are Forex brokers advertising their services all over the world, traders should understand as much as they can about Forex trading before selecting a Forex broker.The term “Forex” is short for foreign exchange market, which is the “place” where different currencies are exchanged in a permanent fashion by millions of people all over the world. It isn’t difficult to conceptualize about Forex trading.Tourists who travel from one country to another country, they must exchange currencies in order to pay for a local expense for product or services. A bundle of Euros would be totally useless to an Italian tourist wishing to visit the Sphinx in Egypt because Euros are not the locally accepted currency. The tourist would have to exchange his currency for the local currency, Egyptian pounds, at the existing exchange rate for that day.

For Example,Even without knowing much about Forex trading, residents of one country exchange currencies with another country each time they purchase a foreign product. Mean while, someone living in the U.S. who wants to buy a nice bottle of French wine and any other imported product so he may pay for it in dollars but the wine has already been paid for in Euros. Somewhere along the line, either the wine or other product American importer had to have exchanged the equivalent value of U.S. dollars (USD) into Euros. This is all about Forex trading. I hope you well understand.

 Differently the New York Stock Exchange or other stock markets in the world, there is no central marketplace for foreign exchange. Rather, currency trading is conducted automatically over-the-counter  (OTC), its means that all transactions take place via computer networks between traders and brokers around the world, rather than on one central exchange. The market is open 24 hours a day, its mean five and a half days a week.One more thing about Forex trading: The need to exchange currencies is the major reason why the Forex market is the biggest, most solid financial market in the world. It out performs other markets including the stock market, with an average traded value of around U.S. $2,000 billion per day. Being aware of the extent of Forex trading should be enough of an introduction to Forex trading to encourage the eager investor to plunk down his money and start to trade.

 After all, Traders can make a lot of money by trading on the Forex Exchange. The more a trader knows about Forex trading, the more winning and successful he will be. It’s really a very simple idea.

FOREX-Dollar slumps against euro, jumps against peso on potential Trump win

Dear Viewers,

NEW YORK The U.S. dollar hit its lowest level in more than three weeks against the euro, yen, Swiss franc and sterling on Wednesday on nervousness about a potential victory for U.S. Republican presidential candidate Donald Trump next week.

Investors are rethinking long-held bets on a Nov. 8 victory for Democrat Hillary Clinton. Clinton held a 5 percentage point lead over Trump, according to a Reuters/Ipsos opinion poll released on Monday, but some other polls showed her Republican rival ahead by 1 to 2 percentage points.

The dollar index .DXY, which measures the greenback against a basket of six major currencies, was last down 0.3 percent at 97.403, after falling 0.6 percent to 97.178, its lowest level since Oct. 11.

The Mexican peso tumbled to a more than one-month low against the greenback, at 19.4667 pesos MXN= per dollar, on fears of how a Trump victory could hurt the Mexican economy.

Clinton is viewed as the candidate of the status quo, while there is greater uncertainty over what a Trump victory might mean for U.S. foreign policy, international trade and the domestic economy.

"There is a huge amount of unknown unknowns around Trump," said Richard Franulovich, a senior currency strategist at Westpac Banking Corp in New York.

The euro EUR= was last up 0.3 percent at $1.1088 after rising 0.6 percent in afternoon trading to $1.1123, its highest level since Oct. 11. Against the yen the dollar was down 0.7 percent, at 103.40 yen, after falling 1 percent earlier to 103.03 yen, its lowest level Oct. 10.

The dollar was last down 0.2 percent against the Swiss franc CHF=, at 0.9733 franc, after earlier falling about 0.6 percent to 0.9695, its lowest level in roughly a month.

The dollar pared losses after the Federal Reserve kept interest rates unchanged in its last policy decision before the U.S. election, but signaled it could hike rates in December as the economy gathers momentum and inflation picks up.

The move in the dollar was mild, analysts said, because U.S. political uncertainty largely overshadowed the central bank's statement.

The Mexican peso suffered MXN= a roughly 1.4 percent drop against the dollar. A possible Trump victory has been viewed as a key risk for the Mexican currency given the candidate's promises to clamp down on immigration and rethink trade relations.

"The peso weakening is a reflection of the increase in momentum from the polls favoring Trump," said Mazen Issa, senior currency strategist at TD Securities in New York. Thanks.