Tag: Currencies

The Cable Correlations in the Global Market

“The Cable” currency pair: What is it? The GBPUSD currency pair is commonly referred to as “Cable,” a nickname rooted in its historical connection to the 19th century. During this period, transactions involving the British pound and the US dollar were conducted through the transatlantic cable. GBPUSD, considered a major currency pair, features the Great […]

Navigating GBP to USD Trading Strategies in Forex

GBP to USD Forex Trading: A Comprehensive Guide to Success When it comes to Forex trading, the GBP to USD currency pair, often referred to as “Cable,” holds a prominent position. Comprising the British Pound (GBP) and the United States Dollar (USD), this pairing represents two economic powerhouses. In this guide, we’ll unravel the dynamics […]

Risky game in the Forex market: MXN/USD, ARS/EUR, BRL/EUR Rates

Currency prices in the Forex market are determined through a process of supply and demand. Market participants such as banks, financial institutions, investors, and individual traders engage in buying and selling currency transactions. These transactions are conducted in currency pairs, where one currency is exchanged for another. The supply and demand for a particular currency […]

What are the Six Main Currencies for Forex Trading?

The foreign exchange (forex) market is a vast and highly liquid arena where trillions of dollars are traded daily among countless participants worldwide. To navigate this market effectively, it is crucial to familiarize oneself with the most commonly traded currencies. In this article, we will delve into the characteristics and traits of six major currencies […]

Dollar Retreats from Five-Week Highs as Investors Secure Profits

Dollar Retreats in European Trade: Breaking Five-Week High Streak In European trade, the dollar experienced a decline, breaking its three-session streak of reaching five-week highs, as investors engaged in active profit-taking. The focus now shifts to crucial remarks from Federal Reserve officials, particularly Fed Chair Jerome Powell, and upcoming US data that will provide insights […]

Euro Continues to Rise on Prospects of European Interest Rate Hikes

The euro continued to climb against major currencies in European trade, indicating a positive outlook for further rate hikes by the European Central Bank (ECB), according to Economies.com. This marks the second consecutive session that the euro has risen against the dollar. Meanwhile, the dollar extended losses following the Federal Reserve’s hint that it may […]

European Central Bank’s Lending Survey Shows Signs of Concern in Credit Market: DAX Analysis

Impact of European Central Bank’s Lending Survey on Credit Market and DAX Analysis The European Central Bank’s (ECB) interest rate decision last week was preceded by the release of updated credit data, revealing a reduction in general credit standards and, more concerningly, a significant drop in the demand for credit, according to a DailyFX.com analysis. […]

Gold Uptrend Hinges on Breaking Through Key Resistance Levels

For four of the past five days, gold has been testing the support of its short-term uptrend line, but each time it has been rejected to the upside around the line, according to a forecast by Bruce Powers on FXempire.com. Over the past five trading days, there has been a series of higher daily lows, […]

What is a currency?

A currency is a medium of exchange for goods and services which is called money. In a nutshell, it’s money, typically in the form of coins and paper, that has been issued by a government and is widely recognized as payment at face value. Bartering as a method of exchanging goods and services was long […]