Foreign exchange is exactly what it says: selling one currency for another. Foreign exchange (forex) is also a fast-paced investment opportunity quite unlike any other. The New Savvy imparts knowledge about how women can easily get started trading in forex, whether it be the direct market, futures, options or in exchange-traded funds. We’ll share knowledge about common predictors of growing economies around the world. Internationally-oriented women who immerse themselves in internal, regional and global politics may become particularly successful forex investors since exchange rates are influenced by changes in a country’s stability and governing principles.
Forex trading is the largest financial market in the world thanks to the sheer number of financial institutions, private companies and individuals who buy and sell currencies. The market facilitates deals between businesses in opposite hemispheres just as readily as it allows travellers to purchase foreign currency for their overseas vacation. A decentralised market, forex is universally available, regardless of geographic location – everyone has to deal with money! Being a 24-hour-a-day business, forex is easily accessible. It’s conducive to independent trading, which helps keep transaction fees to a minimum.
Forex also offers a high level of liquidity. Investors looking to park some money for the short-term may want to consider the market. Like any other investment, however, the forex market should not be entered into hastily. Research and an understanding of international economic conditions and patterns are essential prerequisites to forex trading.
By far and away, the US$ is the most-traded currency concerning volume, followed by the Euro and Japanese Yen. However, as smaller economic powerhouses increasingly make themselves known on the economic stage, other currencies will grow in popularity. Various exchange rates dependent on the seller of any particular currency makes forex an exciting and rapidly changing trading environment.
The New Savvy will shed light on foreign exchange investment for you. We provide guidance to help you decide if you want to trade independently or identify a managing forex broker. We will define the investment vehicles that can move you into foreign exchange, including direct investment, options, futures and even bundled products whose returns are in part dependent on the strength of originating currencies. It’s time to explore this growing asset class and get in on the act!