Forex Top Ten Traded Currencies in 2007

2007 was an interesting year for the global financial markets. Forex or foreign exchange was no different. In a year where we saw unprecedented highs and unprecedented lows for currencies. Some things remained consistent.

The USD Dollar remained the most traded currency in the world in 2007. However, the Euro gained slight ground, but remains a strong second. A newcomer to third place over the past few years is the Japanese Yen. Forth place now belongs to the British Pound.

Note: The number one forex currency pair for 2007 was the EUR/USD - a currency pair consisting of the number one and number two most traded currencies in global currency exchange.

As trends and statistics are tools for forex traders, this top ten list is presented to provide additional information to use in your overall forex arsenal.

Top 10 Traded Forex Currencies in 2007

1. USD
2. EUR
3. JPY
4. GBP
5. CHF
6. CAD
7. AUD
8. SEK
9. HDK
10. NOK

For more information about forex for novice to advanced forex traders, check out Forex Trading Essentials, a website containing forex tools, forex broker info, currency charts, trading systems.


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Forex Trading for the currency trader whose only goal is to make money!

The Rebounding Dollar

The US Dollar is not dead yet! During early European trading sessions, the US Dollar rebounded to a two-month high against the Euro. Furthermore, the Asian currencies have shown marked losses. This year-end rally of the dollar shows amazing strength and resiliency of the US economy. As forex traders, we all know the volatility of the foreign exchange market. The need to lock in profit and announcements of key economic indicators could provide additional boosts for the dollar in the week ahead. Stay tuned to the forex trading digest as we ride the forex wave into the new year.


For more information about forex trading for novice to advanced forex traders, check out Forex Trading Essentials, a website containing forex tools, forex broker info, currency charts, trading systems.


Technorati tags : forex, forex trading, currency, currency trader, currency pairs, learn forex, make money, forex trading essentials, global currency exchange, trade currencies, forex broker, forex trading systems



Forex Trading for the currency trader whose only goal is to make money!

USD - October's Profit Opportunity for Forex Traders

Yesterday's Fed announcement to cut the federal funds rate a quarter point created a terrific profit opportunity for Forex traders shorting the US dollar. The US dollar continues to fall to records lows against all of the major world currencies.

What was the impact of the news? The British pound was trading at 2.0785 before the news and soared to 2.0821 after the announcement. The euro was trading at 1.4459 before the news and then peaked to 1.4504 just after the announcement. The dollar dropped to a 23-year low against the Australian dollar and to a 40-year low against the Canadian dollar. Across all of these currencies, there continued to be major movement throughout Wednesday. Commodity linked currencies rose in parallel with gold and oil and were further supported by the Fed's action. For forex currency traders, all of this represented major pip movement. All of the USD related currency pairs provided profit opportunity if you traded it accordingly.

If you read our last blog, then you were positioned to profit and make money from this announcement. Based on the Fed's announcements additional opportunities still exist on trading the dollar for the remainder of the year as the financial markets adjust.

For more information about forex for novice to advanced traders, check out Forex Trading Essentials, a website containing forex tools, forex broker info, currency charts, trading systems.


Technorati tags : forex, forex trading, currency, currency trader, currency pairs, learn forex, make money, forex trading essentials, global currency exchange, trade currencies, forex broker, forex trading systems