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Posted by: NS on 2010-05-17, 12:13:46
The foreign exchange market is constantly evolving. Currencies' correlations with other elements of financial markets (equities, for example) change rapidly. Furthermore, breaking economic news has a major impact on the forex market. By way of an example, witness the U.S. dollar's role as a safe haven currency during the 2008-2009 financial crisis. The greenback began to give back its gains against the euro and pound sterling as the global recovery progressed in the second half of last year. However, in 2010 these two European currencies have headed lower against the U.S. dollar as the euro zone and, to a lesser extent, UK government deficit problems have come to a head. The problem with forex trading strategy books is that they become obsolete the day they are published. A successful currency trader needs to be aware of the market and economic news trends impacting the forex market on a day-to-day basis. Therefore, a far more effective resource than a book is a real-time FX strategy website like Around FX. The currency strategists at this website provide up-to-the-minute analysis of all G10 currencies and breaking economic news. They also source what FX strategists at the major global banks are thinking. This resource is also free. |
