Forex Contest: Join and Win the Prize
Are you up for a little challenge in your somewhat strenuous trading routine? Join a forex contest and prove your trading skills. If your strategy wins, win the prize and take the champion title.
In general, there are two types of forex trading contests: demo trading competition and live trading competition. If you want to enter for free, forex demo contest can be a choice as the event will take in a demo account. However, if you aim for a real challenge with a higher stake and reward, enter the forex live contest.
What is an example of interest rate change in forex?
Let's use EUR/JPY. Say the BoJ (Bank of Japan) rate is 0.1% and ECB (European Central Bank) is around 0.5%. If BoJ increased interest rates to 0.5%, then their rates will be the same as ECB. However, these changes will entice investors to move their assets to Yen, because they want to get some profit from the changes. Such movement will cause the rise of demand on Yen so that its exchange rates against Euro will rise too.
On the contrary, if BoJ lowers their interest rates to 0.05%, investors will sell their Yens and move their investment into other kinds of assets like bonds, property, or another currency with higher interest, Yen's exchange rates will decrease.
Continue Reading at Central Bank Policies That Affect the Forex Market
How does forex market manipulation works?
Forex market manipulation involves trying to influence other traders' behavior to gain an advantage and potentially cause losses for others. Manipulators seek to control market prices, particularly in currency pairs, by pushing prices in their favor while leaving other traders with losing positions.
Continue Reading at Forex Manipulation Strategy: All You Need to Know
How to keep track of forex interest rates?
The only way to know the change of interest rates of any major country is by monitoring the economic calendar. Besides, the released schedule of the interesting announcement of central banks, which is released once a month, is also important. The demand for a currency will be very sensitive to the central bank interest rate. Traders using certain strategies like carry trade pay the most attention to the news of interest rates changes.
Continue Reading at Everything You Need to Know About Fundamental Analysis
How do interest rates influence forex?
Interest rates add value to every country's currency. Higher interest rates in relation to a currency means it offers relatively higher return compared to any other currency. This way, the higher interest rates in a country, the demand for their currency will rise too because investors will want to have them.
The opposite may happen with lower interest rates. When a country's central bank lowers interest rates, the exchange rates will undergo depreciation. For instance, the Reserve Bank of Australia (RBA) cut their interest rates twice in 2013. Even further, until December of that year, the governor repeatedly mentioned the possibility of a third cut. As a result, AUD became one of the worst major in 2013, having entered a bearish trend that went on until 2014.
Continue Reading at Central Bank Policies That Affect the Forex Market
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