1. How did the first Forex market look?
The barter system is the oldest method of exchanging goods for other goods. It was first introduced in 6000BC by Mesopotamia tribes. Back in the day, salt and spices were used as the main mediums of exchange. This is how the first-ever form of foreign exchange looked like. Eventually, the first gold coins were produced in the 6th century BC, and they acted as a currency. Although gold coins were widely accepted as a medium of exchange, they appeared to be impractical because they were quite heavy. In 1875, the countries adopted the Gold more…
Gold, silver and copper have been soaring since March lows, and they posted new cycle highs in August. They’ve seen consolidated, and metals have been trading in shor-term bearish trends and consolidative formations.
the fundamental situation remains bullish for precious
metals. Why? Major
central banks are about to introduce more easing, with the Reserve
Bank of Australia (RBA) and the Bank of England (BoE) having announce
more Quantitative Easing (QE) in November, while the European Central
Bank (ECB) is expected to increase its bond-buying program at the
Federal Reserve (Fed) is also expected to act following Fed Chair
Jerome Powell urging congress to provide more more…
It has been a bad week for worldwide stocks, and most major indices are down by around 5% for the week, with further losses expected over the next days.
But don’t blame it all on the election. Yes, there is some uncertainty building up, especially if Joe Biden wins, but the odds are that each candidate has narrowed to 50/50. Biden’s recently revealed corruption scandal is hurting him, while Trump continues to attract huge crowds in his rallies.
As many keep saying stocks only go up in the long-term, no matter what party reigns or who the president is.
Worse than the election, are COVID-19 more…
probably noticed that as of late, that the once highly volative and active
EURUSD has seen very low volatility and narrow trading ranges. On Wednesday,
the pair was up by 0.1% for the day, during the US session, marking a daily
move of 10 pips. While it is still the most globally traded pair, this
volatility is not enough for traders to base their strategies on.
The truth is,
between July and October the pair has barely moved. Its July highs were at 1.20
and lows at 1.16. In simpler terms, its range is at 400 pips over the period of
three months, and on most days more…
has been said about the bull market in precious metals as gold rose 40% from
March lows to August highs, while silver notably outperformed that and posted a
150% increase in the same time-frame. All this happening within 6 months is
However, since August highs, both metals are plunging – gold is lower by 10%, and silver by 25%. That’s understandable, considering the steep rally in metals over the previous months.
million-dollar question is; what happens next?
big drop in gold and silver has primarily been driven by dollar strength. The
dollar index hit a two-month high on Wednesday. Investors have moved to the USD
due to more…