Forex trading where loss and profit are two sides of a coin and when you flip the coin, you either get the profit side or the loss side.
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This post is about my experience with Forex trading and trading currencies as an additional source of income.
UK pound is holding its own against the US dollar, helped by a return to risk appetite. Without the general risk appetite, the pound would likely be struggling much more, as the British policymakers look for a way to boost the UK economy.
Euro is heading higher today as better news helps spur risk appetite. Euro is finding support as the Spanish bond auction outperforms expectations, and as US jobs data shows improvement.
Euro is getting a boost today, thanks to improved hopes and expectations for the eurozone. The ECB made its interest rate announcement today, and that has calmed Forex traders to some degree, and boosted the optimism toward the 17-nation currency zone.
Loonie is heading higher against the greenback today, gaining as risk appetite makes an appearance. Canadian dollar is also finding support from commodities today.
US dollar is gaining ground today, heading higher on demand for safer assets. Additionally, the fact that the US economy continues to show progress is helping the greenback against other currencies.
Euro is slipping today, heading lower as data indicates that the eurozone most likely slipped into recession during the third quarter. Also weighing on the euro is the continued efforts by Spain to put of the inevitable before it finally asks for aid.
Japanese yen is heading lower today as risk appetite makes an appearance. Also weighing on the yen is more talk about possible intervention to keep the yen weak against its currency counterparts.
For weeks now, eurozone leaders and others have been waiting for Spain to ask for a bailout. Spain has even been encouraged to ask for a bailout. But the country’s leaders have been reluctant. Now, it looks as though Spain might be ready, and the euro is heading higher as a result.