Best Currencies To Trade In 2017
Best Currencies To Trade In 2017
Binary options trading lives up to its name by giving hopeful traders many different choices for how they’d like to invest and trade their money. For people with an interest in the performance of companies like Apple, there is the stock market. For people that prefer to deal with the resources that are important to keeping the world functioning, there’s the commodities market, with assets like oil and gold. And for people that have an interest in the money itself, and how it interacts with different countries, the foreign exchange market, or Forex, is a popular destination for trade.
Of all the different types of trade available in binary options, it is perhaps currencies that is the most dynamic, and with good reason. Money is, in some ways, the “end result” of the other two forms of trading. Trading in stocks, bonds and shares is all about money, and so is commodities trading. But then these forms of trade also tie into the overall performance of a country’s economy, and that extra factor can play a huge role in how a currency does on the market.
It’s because of all these competing but still influential factors that the Forex market can change on an hourly basis every day of the year. And that’s why for some traders, there’s both an excitement and great amount of financial opportunity for those willing to jump into a market that requires constant vigilance for new, emerging opportunities.
So which currencies are the ones to look at in 2017? For binary options traders, who are more concerned with movements than actual values, there’s a gold mine of opportunity in currencies this year. These are the currencies that you should be looking at most closely.
The Sterling Pound
Thanks to “Brexit,” otherwise known as the United Kingdom leaving the European Union, the pound, as a currency, is not stable, which, while potentially bad for the UK economy, is fantastic for binary options traders looking at the Forex market. The UK is currently in upheaval, as it sorts out the specifics of exiting the Union, and that means many established EU businesses will now be leaving the region, and have some dramatic, negative impact on the economy.
Because the UK is likely about to enter a chaotic economic period, these drops in the value of the pound will serve as valuable investment opportunities for currency speculation. Since binary options trading is about simply predicting a price movement, not selling currency to make a profit, the worse the UK does this year, the more chances investors will have to make trades based on the devaluation of the currency.
Conversely, the Euro is looking to have an interesting year as countries within the union itself continue to trade amongst each other as well as countries outside the union. The United States has already shown an interest in giving the EU preferential treatment in trade, which will have big gains for the region and the economies. In addition, America’s own troubles and current political policy of anti-globalism has caused other countries such as Canada and the EU to increasingly do more business with each other.
This means that as America withdraws from the world stage of finance and economy, it’s inadvertently given opportunities to other economies, such as those of the EU, Canada and even Mexico, to fill the void. The Euro is definitely looking to have an interesting year with some potential growth as the financial landscape changes in the wake of political changes around the world.
The American Dollar
The dollar is, as always, one to watch, especially when added to other currencies for the perfect pair. This year is especially interesting as the country, which has enjoyed decades of success on the global market, now has a leader that is taking an anti-global stance, and encouraging American businesses to withdraw from the global stage.
If these changes go through, like the UK, the USA will experience some dramatic changes, which, while harmful to the country, and potentially to various companies within America, make the dollar much more dynamic. Stability is the enemy of good trading opportunities in binary options, so with a falling, dropping and otherwise active dollar, there are many more chances for traders to find some window over the course of a business day where they can make a lucrative trade.
Of course, the real secret to success with good currency investments is to actually follow both the Forex, and the fortunes of the currencies you’re interested in. You’ll always “come late to the party” if you’re just following a tip you’ve heard about from other traders. But if you have an active interest and understanding your currency pairs and the activity of the economies and market, you can spot these trading opportunities early, and enjoy similar early profits.
Back to homepage: 365binaryoptionreviews.com