|Forex Trading Information||
Forex — the foreign exchange (currency or FOREX, or FX) market is the biggest and the most liquid financial market in the world. It boasts a daily volume of more than $5.3 trillion (as of April 2013). Trading in this market involves buying and selling world currencies, taking profit from the exchange rates difference. FX trading can yield high profits but is also a very risky endeavor. Everyone can participate in foreign exchange trading via the Forex brokers. With our broker rating & reviews system, we can help you choose the one that fits your needs.
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The Canadian dollar rallied earlier during the current trading session, hitting the two-year high versus the euro, with the help of favorable economic data from Canada. Yet the loonie was unable to keep gains and is now trading far below the opening level against other majors.
The euro was trying to continue its march upward during the Friday’s trading session but had troubles due to the concerns about the wellbeing of the eurozone and Greece in particular.
The Canadian dollar rose today, climbing to the highest level in almost three months against its US counterpart and the Japanese yen, as poor economic data from the United States and the rally of crude oil prices played in favor of commodity currencies.
The US dollar was under pressure from poor macroeconomic indicators lately, and the Thursday’s session was not an exception. While not all of the reports were bad, most of them were not as good as market participants had expected, driving the greenback further down.