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What Affects the Price of Currency Pairs?
Forex is the largest financial market in the world - where currency pairs of countries are traded.
Factors that affect the price of currency pairs include:
Monetary policy of central banks, including money supply, interest rates, has the greatest impact on foreign exchange rates.
Macro-economic conditions of countries shown in reports of GDP, CPI, PMI, employment, unemployment, balance of payments, inflation...
- Ratio of foreign exchange reserves of countries.
- Investment demand (supply and demand factor) of currencies on the foreign exchange market.
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In addition to the EURUSD, the forex market also has 6 major currency pairs, all of which have the US dollar.
The major currency pairs with the US dollar as the base currency include:
• US Dollar/Japanese Yen (USD/JPY)
• US Dollar/Swiss Franc (USD/CHF)
• US Dollar/Canadian Dollar (USD/CAD)
The main currency pairs with the U.S. dollar as the quote currency include:
• British Pound/U.S. Dollar (GBP/USD)
• New Zealand Dollar/U.S. Dollar (NZD/USD)
• Australian Dollar/U.S. Dollar (AUD/USD)
These currency pairs are closely related to the EUR/USD. You need to pay attention to this correlation in order to gain profits or reduce risks when trading.
MiTrade’s platform offers easy to use risk management tools and no commission, so that you can trade currency pairs with ease. Choose leverage that suits your goals and earn high rewards.
Enter a trusted broker to earn exponentially higher rewards, but be aware of the risks that come with this type of leveraged trade.
Forex leverage is the amount of trading funds your broker is willing to credit your investment based on a ratio of your capital to the size of the credit. Your invested capital is usually only a fraction of the forex leverage credit size. In essence, leverage is borrowed capital you obtain from your broker to increase your potential returns.
The amount of leverage you can access differs from broker to broker. It also depends on the conditions for trading provided by your broker. You will be required to maintain a minimum balance in your account (usually a fraction of the leverage you will obtain) from which your leverage will be calculated based on the agreed-upon ratio. You use margin to create leverage. FX brokers call this trading on margin.
When trading with margin, the broker will set aside only a fraction of your position’s value, and they will fund the rest. Hence, you are said to be leveraged. The fraction of the position’s cost that was set aside is the margin requirement. It is expressed in percentage; say you are required to put up 2% of a $10,000 trading position you open. This means that you are trading at $10,000, but you only need to provide $200.
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