Recent Economic Condition and its Influences on Forex Trading
Any kind of business is directly related to economy. If economic condition runs well, business will run well. An investor’s confidence depends on economic condition. A smooth economy situation is essential to build up investor’s confidence.
Forex is the biggest market place for currency trading. Being decentralized a lot people around the world are trading here. If you want to invest here, you have to gain confidence at first. You have to make a big analysis to invest here. To do so you can take help from Forex tutorial. Forex practice account is also helpful. Here you can have the chance of live forex trading.
If you consider the recent world economic conditions, it will be horrific to you. If you consider the last decade, the world economic was not so good. But now it is trying to recover and has already done to some extent. Day by day the world’s economy is going to be more decentralized and we are now getting its good result. As a result Forex trading is getting more popularity day by day. If you want to learn forex, you can take forex trading tips.
Let’s see some regional examples
In recent days some of the countries of Europe did well. Their economic condition is growing fast. Over last 15 months, the economic confidence is enhancing among the investors of euro area. As a result their currency rate is going higher against the other country’s currencies.
At present their consumer sentiment is much higher and highest after April of last year. The currency rate of EURO is now getting stronger against YEN. It is also going stronger against USD. So Forex is influencing by the world’s economic condition.
JPY was stronger against USD over a month. But last week after the victory of LDP, JPY lost its currency rate seriously against USD. I can mention the price of JPY was highest 100.44 against USD. It’s a serious position. And till now USD is stronger against JPY.
Australia’s currency is now going through a critical situation. Money inflation is a severe problem of there now. Due to increase of inflation and decrease export in recent days, their economic condition is suffering and currency rate already gone down. AUD has lost its currency rate against most of the currencies.
In recent days, there have been positive changes in Canada’s economy. Their export is growing and their currency rate is enhancing. Canadian currency is going to be stronger against almost all currencies. This is because of their economic growth.
In recent days American dollar is showing lower rate against most of the currencies. But in case of a few currencies, it is stronger.
Actually if you want to invest in Forex trading, you must have confidence, and which depends on economic condition. So if the economic condition remains good, it will influence Forex trading and increase currency rate.