STAN ERLICH – SIMPLE CYCLICAL ANALYSIS

The. The foreign exchange market. (). It is possible to make money on the foreign exchange market. It is possible to make money on the foreign exchange market. , It’s called FX. Or. There is a currency market. There is a global market for the trading of currencies. All aspects of buying, selling and exchanging currencies are included. It is the largest market in the world in terms of volume of trading. [2] The larger international banks are the main players in this market. Financial centres around the world function as an anchor of trading between a wide range of different types of buyers and sellers around the clock. The foreign exchange market does not determine the relative values of different currencies, but sets the current market price of the value of one currency as demanded against another.

The foreign exchange market works through financial institutions. Behind the scenes banks turn to a smaller number of financial firms who are actively involved in large quantities of foreign exchange trading. Most foreign exchange dealers are banks, so this behind-the-scenes market is sometimes called the interbank market, although a few insurance companies and other kinds of financial firms are involved. Hundreds of millions of dollars can be traded between foreign exchange dealers. Because of the sovereignty issue, the foreign exchange has little authority over its actions.

Currency conversion is aided by the foreign exchange market. It is possible for a business in the United States to import goods from European Union member states and pay Euros even though their income is in United States dollars. It supports direct speculation and evaluation relative to the value of currencies, and carry trade speculation based on the interest rate differential between two currencies. [3]

In a foreign exchange transaction, a party purchases one currency and pays in another currency. After three decades of government restrictions on foreign exchange transactions, the modern foreign exchange market began in the 1970s.

THE FOREIGN EXCHANGE MARKET IS UNIQUE BECAUSE OF THE FOLLOWING CHARACTERISTICS:

• its huge trading volume representing the largest asset class in the world leading to highliquidity;
• its geographical dispersion;
• its continuous operation: 24 hours a day except weekends, i.e., trading from 22:00GMT on Sunday (Sydney) until 22:00 GMT Friday (New York);
• the variety of factors that affectexchange rates;
• the low margins of relative profit compared with other markets of fixed income; and
• the use ofleverage to enhance profit and loss margins and with respect to account size.

Despite currency intervention by central banks, it has been referred to as the market closest to the ideal of perfect competition.

According to the Bank for International Settlements. [4] The Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity shows that trading in foreign exchange markets averaged $5.3 trillion per day in April. In April 2010 and April 2007, this was $3.3 trillion and $4 trillion, respectively. Spot trading and foreign exchange swaps were the most traded instruments in April. According to the Bank for International Settlements. [5] As of April 2010, the average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, a growth of 20% over the $3.21 trillion daily volume as of April 2007. The average daily turnover in the foreign exchange market was over four trillion dollars. [5] The break-down is $3.98 trillion.

• $1.490 trillion inspot transactions
• $475 billion inoutright forwards
• $1.765 trillion inforeign exchange swaps
• $43 billioncurrency swaps
• $207 billion inoptions and other products
  
  

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