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The Australian dollar has witnessed a recent fall in trade with no significant data release scheduled in Asia, says Barry Sendach. The AUD & USD traded down 0.15% at 0.8755.
The U.S. dollar traded considerably lower against foremost global currencies after investors summarized weekly jobless claims data, and resolved the numbers portraying a labor market that is still in need of financial support to some degree.
Weekly initial jobless claims rose in line with expectations, reports the U.S. Labor Department. The number of ongoing jobless claims stayed put above the 3 million mark for a second consecutive week, they said.
Barry Sendach is also of the opinion that fed bond purchases soften the dollar for as long as they continue to linger by holding back long-term interest rates to incite recovery, sending investors to advantage classes such as stocks and commodities in the process.
The U.S. manufacturing PMI turned down to 53.7 this month compared to a final reading of 55.0 in December last year, although analysts were looking forward to a steady index.
The National Association of Realtors submitted a report that the U.S. existing home sales at 4.87 million units from 4.82 million in November, ’13; in contrary to the expected increase of 4.94 million.
First, it may be necessary to explain what forex trading is. Forex trading also known as currency trading, FX trading, Foreign Exchange trading and forex currency trading refers to the largest financial investment in the world. It is the simultaneous buying of one particular currency and simultaneous selling of another particular currency. If an investor believes that the Euro currency would weaken versus the US Dollar, they would sell EUR/USD. In forex trading the strongest currency is listed first in the pair, out of four top currencies the European Currency (EUR), US Dollar (USD),the Australian Dollar (AUD) and the British Pound (GBP).
According to Forex marketing expert, Barry Sendach, there are three reasons behind extensive popularity. Those are listed below.
The first reason for its popularity is the ease and accuracy of trading according to convenience of traders. It follows the sun around the world which enables investors to trade 24 hours a day from the comfort of their laptop. Most of the platforms offer free real time quotes, charts and news to facilitate trading efficiency.
The second reason behind popularity of forex trading is the inexpensive trading costs. Many companies do not charge any commissions and are compensated by the pip spread. Moreover, there is no restriction on amount, as the person can invest small amount or large amount as per the convenience.
The third reason why forex trading is so popular is because Forex market itself plays a part. The volatility of the forex market is another advantage that allows new traders to offset their other trading activity. The dynamic movement in the price of the currency enables a well-informed trader to reap a sizable profit from a single investment in short interval. In fact a trader can enter and exit a position in less than a day of trading to realize these profits.
The volatility, flexibility and inexpensive nature make it so popular among newbie’s. If you want surefire success, only experts like Barry Sendach can assure you, due to his wealth of experience and knowledge.