June 1st | Day Trading the Currency Market
Geopolitical risks such as wars may also have a pronounced impact on the currency market. Figure 9.11 shows that between December 2002 and February 2003, the u.s. dollar depreciated 9 percent against the Swiss franc in the months leading up to the invasion of Iraq. The dollar sold because the war itself was incredibly popular among the international community. The Swiss franc was one of the primary beneficiaries thanks to the political neutrality of the country and safe haven status. Between February and March market began to believe that the inevitable war in a quick and decisive victory of the U.S. would change, so they started to unwind the war trade. This eventually led to a rally from 8% in USD/CHF as investors abandoned their short positions in the dollar. Each of these events caused large-scale movement on the currency markets, making them important events to follow ? for all kinds of ***** ***** ***** ***** ***** ***** ***** ** page 147 ** ***** ***** ***** ***** ***** ***** ***** ? all have solid correlations with gold prices; natural gold reserves and currency laws in these countries lead to almost mirror-like movements. The CAD also tend to somewhat in line with oil prices; the link here, however, is much more complicated and fickle. Each coin has a specific reason as to why her actions correlation and commodity prices reflect so well. Knowledge of the basic concepts for these movements, their direction and strength of the parallel he could a effective way to discover trends in both markets.
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Tags: Iraq, U.S., War, WARS
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