otunba

by otunba
(lagos,Nigeria)

i have been following the news recently and how it affects currency prices,but i was surprised to find out that a high u.s job data resulted in the strenghtening of the euro and the eur/usd went up.shouldnt it be the other way round?i.e favourable u.s economic reports pushing the usd up?

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otunba

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Aug 06, 2012
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starstarstarstarstar 		That is a tough one
by: Luke from Forex Trading Rookie

Hello Otunba,

That is definitely a tough one to answer definitively. So many different factors go into the value of currencies. The US is such a big market in the world, that any positive news from there is a good sign for the rest of the world too. Since the US dollar is the reserve currency for most of the world, it tends to boost other currency values at times too. A lot of European companies have investments in American assets and companies as well. Of course, there's also the talk of the Federal Reserve bailing out the EU at some point too. If the media talks up the American market, this makes a bailout from the Fed seem like a less terrible idea. I think it's a bad idea, but that doesn't mean they won't do it. It's good that you're paying attention to the news, but there's no telling how news announcements will impact the market at times. Thanks for your question and come back again.
Sep 13, 2012
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starstarstarstarstar 		am new
by: Anonymous

hello guys, am new in this forex market, but have not yet invest my money in it because am still practicing demo account, do you have any advice which you can give me before starting the life trading, please because i don;t want to jump into trading just like that,am scare,
Oct 03, 2012
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starstarstarstarstar 		Hello
by: Luke from Forex Trading Rookie

Hi,

Welcome to the site, and sorry for the delay in replying. There is so much stuff to learn if you're just starting out. I would start by reading some of the articles here on the site, checking out some books like "Forex Trading for Dummies" and those kinds of resources. Taking a class may also be a good idea. Don't just deposit money into an account and start trading. If you do, you're probably going to lose money. When you find a strategy that you like, try it out on a demo account first. This will let you try before you risk any real money. Thanks for stopping by.

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