It’s a whole new world out there. And it sometimes gets tough out there. Recently, there has been a great lot of bad news about the weather and current affairs. But let’s not talk about that. The FX market is the latest victim. Check out these news and updates about FX. Are you in shock? We sincerly hope that the negative FX news will take a turn for the better.
It seems that the FX market have some fervid stuffs happening right now. The Wall Street Journal has reported that the Commodity Futures Trading Commission (CFTC) has asked major currency-dealing banks to search thoroughly their records (such as emails)and hand over any proof of dishonest behaviour. Many are questioning whether traders are manipulating the FX market. Hong Kong is the latest country to join the list of those looking at FX rigging.
Anna Calselli made a good point about FX manipulation.She states that FX traders should understand when to identify manipulation on the part of large funds. This aspect is essential to the success of FX trading.
In Other News
It’s been roughly 6 days since the partial shutdown in the United States. The U.S. dollar chart indicates that a recovery may be in the lead.
If you’ve been following ForexNews closely, you would know that the Japanese Yen Dollar has strengthened after Bank of Japan Governor Haruhiko Kuroda reiterated Monday that the bank would stick to its stimulus program and added that the economy was on its way to reach the bank’s 2% inflation target. Also, Japan posted a trade deficit of ¥932.1 billion in September. This was the 15th consecutive monthly deficit, currently the longest run in the record.
A Little Tip for FX Beginners
Remember that episode on Friends where Monica buy share. The ‘mother hen’ of the group spent $127 (left in her bank account) in the FX market. She made a few bucks; in the end she owes money and had to take up a job as a waitress at a 1950s-themed restaurant. Turns out that joke’s on her, as she had to a blond wig and roller skates. So much for being a FX trader. The moral of the story: true FX traders need to practice a different money management and different FX trading strategies. Understand this, and you will ensure the safety of your account and meet the moves and the shakers of the FX trade.