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Factors that Moves Forex Market
There are several factors that will have a significant impact on the value of a currency – the country’s political events, disasters and the Central Bank of the country, all these play a part in the movement of the country’s currency.
National and international political events, elections or changes in government trade policies will affect the value of the currency. Prices of sensitive commodities like oil and gasoline are an important fundamental indicator as high prices can hurt consumer spending and confidence, and curtail the activities of certain businesses and government services.
Disasters, be it natural disaster or human created ones like terrorist attacks or military actions will generally have a significant impact on the Forex market as a whole.
Last but not lest the Central bank of a country plays a key role in of the value of the currency in the Forex market. This is because the central bank has the responsibility of changing the country’s “base” interest rate. A central bank has to find a fine balance when setting interest rates as it wants to maintain growth in the economy, but at the same time it has to be careful to curtail inflation. The bank’s decisions on whether to raise, cut, or hold the interest rate fuels speculation in the Forex market, where the value of a currency, or group of currencies, changes in real time.
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