Wednesday, February 26, 2014
TTHH Currencies Trading and Investing
Forex market brief Wednesday, February 26, 2014
The foreign exchange? Yes. Spies? No. The foreign legion? No.
The Forex. Some trace it back to these though The Forex, also Caterpillar Co.’s why not make international currencies, money in each country’s reckoning of the dollar at home and abroad, tradeable for profit near exactly like the world’s stock market exchanges? Some might remember Catepillar’s notion to save itself from fiscal ruin back around 1987. The Forex is behind business phrases such as are you ‘long or short’, ‘the usd/jpy’, and, ‘dollar/yen’?
I’m tracking a trade of this type today. One american dollar will buy you 102.356 yen spelled phonetically in american english. This looks a little stagering though if you were walking out of the bank’s door while vacationing a week near Hiroshima and heading back towards your hotel you might see an ad stating one gumball for 102.00 yen sitting on a newspaper stand. Thus, a one american dollar gumball slightly supersized and looking appropriately priced. It cost you a dollar.
102.307 yen was the price this morning at 4:00am, a 0.049 lower price. Darn, I could have netted a few dollars on a small investment if I’d bought the currency pair on FXCM’s trading platform earlier. I might wait for a new low in price and wait till the beginning of the month too, For now I’m just chart analyzing and enjoying the practice.Asian sessions run overnight starting at 8:00pm e.s.t. and