Forex Smart Trade Results, Thursday, August 15, 2024 – $6,261
Forex Smart Trade Results, Wednesday, August 14, 2024 – $2,025
August 28, 2024
Forex Smart Trade Results, Friday, August 16, 2024 – ($3,530)
September 7, 2024
Australia: Getting to Know the AUD.
Even though they’ve got their seasons mixed up, the Australians are always up bright and early to play.
Well, this is mostly because the Australian market is the first to open every week!
Just like the people inhabiting the place, Australia’s local currency, the AUD, is called the Aussie.
I’m called a commodity dollar for a reason…
One important characteristic of the AUD is that it has a high positive correlation with gold prices.
The reason behind this is that Australia is the third biggest gold-digger… errr, gold producer in the world.
As a result, whenever the price of gold rises or falls, the AUD goes along for the ride.
… and I’m one of the best candidates for carry trade.
Among the major currencies, the AUD has been known for having a high interest rate.
This makes it a favorite for carry trades.
Carry trade is the practice of buying a currency with a high interest rate in exchange for a currency with a lower interest rate.
I’m only awake a couple of hours a day…
Most of the AUD’s movement happens during the Asian trading session, the time when economic data from Australia is released.
… but bad weather is one of my worst enemies!
Given the commodity-based economy of Australia, unfavorable weather conditions tend to put a serious strain on Australia’s growth, which leads to a sell-off in the AUD.
How severely do weather conditions affect AUD?
Well, let’s just say that during the Australian drought of 2002, AUD/USD fell to .4770 – that is almost half its current exchange rate!
Learn to Trade Forex
If you’d like to earn extra income trading on the Forex market, consider learning how to currency trade with Forex Smart Trade. With their super-accurate proprietary trading tools and best-in-the-business, personalized one-on-one training, you’ll be successful. Check out the Forex Smart Trade webinar. It shows one of their trader’s trading and how easy, intuitive, and accurate the tools are. Or try the Forex Smart Trade Introductory Day Trading Trial for just TEN dollars.
Currency trading is very risky. My results are not typical. We provide a trading trial so you can assess the value of our indicators and training for yourself.
