How Technology Is Easing Foreign Exchange Investment - TechAcute

How Technology Is Easing Foreign Exchange Investment - TechAcute
Dollar Edges Higher; Federal Reserve Seen Tolerating Higher Yields By Investing.com - Investing.com
Dollar Edges Higher, But Set to Record Losing Week By Investing.com - Investing.com
FOREX-Dollar clings to three-weeks high as yields steady - Investing.com India

Posted: 15 Feb 2021 12:00 AM PST

Technology has had an immeasurable profound impact on our world. Apart from impacting our personal lives, technology continues to change global markets and industries faster each day. Forex trading is among the institutions evolving with revolutionary advancements. Foreign exchange happens in a diverse market, which makes it impossible without the virtual world. These days, anyone with a good internet connection and a computer can invest in foreign exchange and start earning.

Let us look at how you can use technology in foreign exchange investment.

Demo trading

Novice traders can learn forex trading skills using a demo account online. Demo accounts are available for free from most brokers where one can join the trade and test their skills with little or no risk involved. Besides, technology helps a new trader connect with a suitable broker. It is essential to find a reliable broker to succeed in foreign exchange investment. The Internet and today's technology has made it possible to search online for reviews on reputable brokers before engaging them.

Access to information

An excellent foreign exchange investor should stay up to date with current news to make informed decisions. The rise and fall of currencies depend on several factors taking place in their respective countries. Economic and political tensions in a country can result in a fall in its currency. It is for this reason that one should get dinar intel to help with the decision to buy Iraqi dinar.

Furthermore, since the foreign exchange market is a 24-hour economy, you run the risk of having different time zones between you and the buyer or seller. The online world provides unrestricted access to current updates that can impact your trading settlements and decisions.

Enables 24-hour trading

The rolling hours of this market are enabled by technology. Foreign exchange transactions directly occur between trading parties through a forex broker. Thus, foreign exchange investment is not dependent on the opening hours of any central exchange system. Deals can happen as long as a market is open in any part of the world. It is important to note that even when the forex market closes to retail traders during weekends, the rates continue to move. This is a factor worth considering when setting your trading strategy to minimize potential risk.

Forex trading apps

We are in the smartphone's ear where almost everyone owns a smartphone, which serves several purposes: learning, purchasing goods, or socializing. Nowadays, you can trade in foreign currencies using your smart device. Forex trading apps enable you to access your trading account from anywhere and anytime to keep you updated on changes taking place.

World Currencies Gain Against USD After Biden Win — World Currencies Gain Against U.S. Dollar After Biden Win, Katharina Buchholz, Statista

Most apps provide free access to related economic news and current forex interbank rates, which can manipulate trading decisions. Some more advanced apps provide technical trading tools, analysis, and a chance to backtest trading strategies about historical price data. In short, foreign exchange apps can considerably ease your work as a forex trader.

Access to online learning resources

The success of a foreign exchange trader lies in their ability to evaluate investments and risks. Engaging in forex trading can be particularly hard without the required traits, knowledge, and skills. It is an undertaking of the strong at heart as there are many risks involved. Therefore, the only way to ensure successful forex trading is to learn about market dynamics, know potential risks, and know-how to reduce the risks. No one is born with the skills; hence, you have to utilize available online resources to develop your skills.

Numerous online forex forums connect you with professional traders and learn from them. Furthermore, you can participate in webinars to better understand the intricacies of the foreign exchange market. Thanks to technology, you can copy professional traders' trading activities and use the information to your advantage when you are a newcomer in forex trading. There are limitless online resources, where you only have to pick the most suitable for you.

Foreign exchange investment is an increasingly popular way to improve your financial circumstances by earning extra income. Therefore, since we are in the technology era, it is good to take advantage of available online resources to learn the currency trading game and improve your skills.

Photo credit: The feature image has been done by Marga Santoso.
Source: Treasury Vault / Katharina Buchholz (Statista) / Irene Aldridge (HuffPost)
Editorial notice: This article has been made possible by site supporters.

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Dollar Edges Higher; Federal Reserve Seen Tolerating Higher Yields By Investing.com - Investing.com

Posted: 02 Mar 2021 12:23 AM PST

By Peter Nurse

Investing.com - The dollar traded higher in early European trading Tuesday, with the Federal Reserve seen as taking a more liberal stance to higher bond yields than its peers.

At 3:55 AM ET (0755 GMT), the , which tracks the greenback against a basket of six other currencies, was up 0.3% at 91.290, hitting a three-week high.

fell 0.3% to 1.2010, fell 0.3% to 1.3885, while was up 0.1% at 106.84.

The risk-sensitive fell 0.3% to 0.7750, after the Reserve Bank of Australia re-committed to keeping interest rates at historic lows. dropped 0.5% to 0.7224, while rose 0.3% to 1.2684.

Currency markets have recently been taking their cues from the global bond market, and while Treasury yields have stabilized the dollar has pushed higher on expectations that the Fed will show greater tolerance of higher bond yields than other central banks.

Fed Chairman Jerome Powell has recently tried to tone down expectations of early tightening, saying the central bank would look through any near-term inflation spike. He will speak again at the end of the week.

Additionally, Richmond Fed President played down recent Treasury market volatility, in remarks that reinforce the message that the U.S. central bank is not yet troubled by the increase in yields.

However, the European Central Bank has taken a different stance, with top ECB officials expressing concern about the recent rises in bond yields.

President Christine Lagarde said the central bank will prevent a premature increase in borrowing costs for firms and households, while François Villeroy de Galhau, Governor of the Bank of France, said some of the recent rises in bond yields were unwarranted.

The euro also suffered Tuesday from weak German retail sales as the Covid-19 lockdown and the withdrawal of a temporary cut in sales tax hit consumer spending in Europe's largest economy.

fell 4.5% on the month in real terms after an upwardly revised decline of 9.1% in December.

"Yet, as long as the re-opening of economies remains on track from 2Q – which we still believe to be the case – volatility should give way to a resumption of the dollar bear trend later this year," said analysts at ING, in a research note.

"Despite ECB threats to cut rates, we still expect EUR/$ to be pressing 1.25 this summer and possibly break above it amidst broad global growth into year-end."

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Dollar Edges Higher, But Set to Record Losing Week By Investing.com - Investing.com

Posted: 12 Feb 2021 12:00 AM PST

By Peter Nurse

Investing.com - The dollar edged higher in early European trading Friday, but still heading for its first weekly loss in three as doubts emerge about the strength of the U.S. economic recovery.

At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 90.487, but still on track to fall 0.6% this week.

was up 0.2% at 104.88, dropped 0.1% to 1.2125, while the risk-sensitive rose 0.1% to 0.7746.

The weekly data came in weaker-than-expected on Thursday, adding to last week's number that suggested that the recovery in the jobs market in the U.S. would be a prolonged affair.

Federal Reserve Chairman Jerome Powell admitted as much on Wednesday, when he stated that the central bank would have to remain patient with its accommodative monetary policy stance.

This has all created concerns that the dollar's previous rally had priced in too fast a pace of rebound for the U.S. economy.

"Any shift in the policy stance (to a hawkish, less accommodative side) is not imminent, U.S. front-end rates are to remain anchored, the U.S. curve is set to steepen further and real rates are to remain deeply negative," said analysts at ING, in a research note.

Elsewhere, dropped 0.2% to 1.3786, after the release of data showing Britain's 9.9% in 2020. This was the biggest annual fall in output since modern records began as the coronavirus ravaged its services-dominated economy.

That said, Britain's grew 1.0% in the final quarter of last year, double the 0.5% growth widely expected.

This release makes it unlikely that Britain will fall into recession, as although the economy is set to shrink sharply in early 2021 due to the effects of the current lockdown, it is expected to rebound in the second quarter as the ongoing vaccination program prompts a return to something like normalcy.

Additionally, rose 0.4% to 73.9209, with the Bank of Russia widely expected to hold its key rate unchanged at 4.25% later Friday.

That said, the International Monetary Fund said in a report this week that Russia should cut interest rates by as much as 50 basis points in the coming months to prevent inflation falling below the central bank's 4% target later in the year.

FOREX-Dollar clings to three-weeks high as yields steady - Investing.com India

Posted: 01 Mar 2021 04:37 AM PST

* up 6%

* Euro weakens

* U.S. Treasuries stabilise

* Australian dollar bounce

* Sterling rises on bets of vaccine-led economic rebound

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds quotes from strategist, updates prices)

By Julien Ponthus

LONDON, March 1 (Reuters) - The dollar held on to three-weeks highs against major currencies on Monday as U.S. and euro zone bond yields steadied, after a fixed-income selloff in February that lifted demand for safe-haven currencies.

The Australian dollar and other riskier currencies rebounded against the U.S. dollar during trading hours in Asia, but the greenback gradually strengthened against peers.

At 1149 GMT, the =USD was up 0.35% to 91.07 after posting its biggest gains since June on Friday.

The euro fell 0.23% to $1.2042, after dropping 0.9% at the end of last week, the most since April.

A survey showing upbeat euro zone factory activity in February and soaring demand failed to prop up the bloc's currency.

"It's quite possible that the market is readjusting the bullish view it had on the euro at the beginning of the year", said Jane Foley, a foreign exchange strategist at Rabobank.

She noted concerns about Europe's vaccine campaigns and its growth potential while investors seeking to play the reflation trade focused on the recovering U.S. economy and the new round of stimulus of President Joe Biden.

Traders were also waiting for a speech later this afternoon by President Christine Lagarde, who is under pressure to act against rising yields in the euro zone.

"There is little doubt in my mind that central banks will eventually lean quite hard against a sustained rise in yields. They simply can't afford to see it happen with debt so high", Deutsche Bank (DE: ) strategist Jim Reid told his clients in a morning note.

Yields on the benchmark 10-year German government bond retreated to -0.30% from a one-year high of -0.20% last week.

Ten-year U.S. bonds traded at 1.4376% , off Thursday's one-year high of 1.614%.

"The bond market and risk assets are showing signs of stabilisation after the big sell-off last week", ING analysts commented, expecting that "the dollar's corrective rally should pause for breath".

Early today, the risk-friendly Australian dollar jumped 0.3% to $0.7728, following a 2.1% plunge on Friday.

The Reserve Bank of Australia will hold its monthly policy meeting on Tuesday, and markets expect it to reinforce its forward guidance for three more years of near-zero rates. British pound drew additional support from bets on a faster vaccine-led economic recovery. Sterling GBP=D3 rose 0.17% to $1.3945.

Against the yen , the dollar hit a six-month high of 106.75.

In cryptocurrency markets, bitcoin rose 5.9% to $47,910 but was still off a record high of $58,354.14 hit on Feb. 21.

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https://tmsnrt.rs/2RBWI5E

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