And so we come to the question of how to predict Forex movement? Fortunately, economists created the standard economic calendar, where they make daily predictions around various economic values based upon recent history. It generally contains the following data: date, time, currency, data released, actual, forecast, and previous. There are certain economic figures, which when announced, nearly always have a heavy impact on the movement of the FX market.
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The forex market consists of trading pairs of international fiat currencies pegged against each other where traders speculate and hedge risk on the price of a specific national currency appreciating or depreciating relative to another currency. Interestingly, there is no central forex exchange, and all trading is open 24 hours a day, more than 5 days a week, with OTC financial trading centers operating in major cities around the world.
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The Forex (FOReign EXchange) market appeared at the end of the 1970s after many countries decided to unpeg their currency value from that of the US dollar or gold. This led to the formation of an international market on which currency could be exchanged and traded freely. Today, Forex is the largest financial market in the world. It doesn’t matter where you live or even where you are right now; as long as you have access to the Internet, a trading terminal (a special program for trading Forex), and an account with a Forex broker, all the instruments and opportunities of Forex are available to you.
The explanation isn't complicated, but at first, it may seem a little strange and requires a two-part explanation. First, remember that if it's midnight in New York when the New York forex market is closed, it's also the middle of the trading day somewhere -- in Tokyo, for instance. Also, keep in mind that forex is a worldwide market that is entirely virtual. There's no trading pit anywhere. When you enter a midnight forex trade on your laptop in New York, the trade is executed in Tokyo or in another of the several trading centers worldwide that are open when you initiate the trade.
Trading in South Africa might be safest with an FSA regulated (or registered) brand. The regions classed as ‘unregulated’ by European brokers see way less ‘default’ protection. So a local regulator can give additional confidence. This is similar in Singapore, the Philippines or Hong Kong. The choice of ‘best forex broker’ will therefore differ region by region.
In the futures market, futures contracts are bought and sold based upon a standard size and settlement date on public commodities markets, such as the Chicago Mercantile Exchange. In the U.S., the National Futures Association regulates the futures market. Futures contracts have specific details, including the number of units being traded, delivery and settlement dates, and minimum price increments that cannot be customized. The exchange acts as a counterpart to the trader, providing clearance and settlement.