please support your choice with at least one recent headline
and give me a few reasons
2007-05-26 05:27:57 · 10 answers · asked by Anonymous in Business & Finance ➔ Investing
the canadian dollar ----> analyst are exepted that the canadian dollar's gonna be at the same price as the Us dolar in 2 years
2007-05-26 05:49:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
As long as your shorting the USD, it doesn't matter what currency pair you invest in, you'll make some money.
Almost all major currency pairs are listed in USD... The US dollar will continue its fall for quite some time... well as long as the US gov't continues to print so much money. Eventually at the current pace, if nothing were to change, the US dollar would collapse because it isn't backed by gold... it's just a peice of paper. However, there is a chance that the US gov't could turn this around... I doubt it.
Canadian dollar is a good one. Up 8% on the year. Making record 30 year highs. Even when all other currency pairs have declined against the US dollar in the last few weeks, the Canadian dollar has continued to rise. It's considered a commodity currency, with more than 175 billion barrels of proven oil (and way more unproven) and tons of resources, Canada is a very rich country (in natural resource terms). I do predict small decline after Tuesday for the Canadian dollar, because David Dodge from the Bank of Canada will most likely announce no interest rate hike yet... But we will be raising our interest rate this year sometime to stop inflation. When we raise the rates the Canadian dollar will only strengthen.
I don't want the USD to collapse, but it looks like if it stays on this path forever, it could. At a time when the US government is having MASSIVE deficits, Canada and many other countries are having surplusses and paying down debt.
And NO the price of gold isn't rising, the dollar is just dropping and gold happens to be quoted in dollars.
2007-05-26 12:58:10 · answer #2 · answered by ulchka 3 · 0⤊ 0⤋
Buying just one currency will make you go broke faster than you can say broke. If you really want to know how to trade you have to look at the website were I found the way. It is not quite as easy at first but you will see it is the only way to do after trying it out. It is not my sight but I am grateful I found it. www.freedomrocks.com/19768 You can even learn how the owner trades his everyweek by joining. Having been involved in the forex market for over a year and trying many so called experts and realizing that know one really knows which way it goes. This is the answer to the problem. I have doubled my money doing as the boss says.
Right now I trade the EUR/USD and the GBP/USD against the USD/CHF. I would stay away from the Yen. This system tells me how many lots to trade of each and I just set my account up like the bosses using a 9% margin at 400 to 1. I collect a great daily rate of interest along with growth in the account from the differences each day. I use gftforex as my broker and you can get information about the forex market on their website. Good luck it works.
2007-05-26 14:19:01 · answer #3 · answered by Blanston 2 · 0⤊ 0⤋
Forex.... FX..... Currency investing..... what ever you want to call it.... please know that most people that get involved with it lose money (unless they've have had previous trading experiance, over years and spent considerable time learning it).
I like any currency that has a rising interet rate compared to the "base" currency, which should be going down. The USD/EUR has been rising on this speculation. Unfortunatly the USD/JPY which should also be moving in favor of the yen, has been weekening to the USD. This is typical of the currency market. Even with the most basic of investing formulas.... it can do the exact opposite of what you expect. The FX market moves so fast that you can lose significant money even if you watch it hourly.
2007-05-26 06:19:12 · answer #4 · answered by Common Sense 7 · 0⤊ 0⤋
By all means buy the EURO for the longterm. It is the coming currency, soon to replace the USD. It been going up every year. The best day to buy is friday. It has gone up agaist the USD about 70% of the time on fridays.
2007-05-26 06:27:47 · answer #5 · answered by billyboy 1 · 0⤊ 0⤋
depends on how long you want to save the money. The swiss Francs is the SAFEST bet you can take.
However for shortterm maybe the £uk, but for longterm everyone knows the pound is overvalued.
For use now, suggest keep using the USD because its widely accepted.
However, slightly riskier is to buy the chinese currency because its pegged with the USD but they is growing pressure to realise it of which might increase the chinese currency by about 40% and growing because it is currently undervalued, maybe in 10 to 15 years time.. So maybe save and gain interest in chinese currency, they is no risk because its peged to USD, n if they is possible float, it will definately rise in value..
2007-05-26 06:16:23 · answer #6 · answered by Richard 1 · 0⤊ 1⤋
Sounds like a homework assignment. I would buy the British Pound (£). It's worth twice as much as the USD right now.
2007-05-26 05:31:40 · answer #7 · answered by Siobhan W. 4 · 0⤊ 0⤋
if interested in forex real time analysis trading pls visit http://www.desicyberworld.com. Also start with just 50$. Pls dont buy on news
2007-05-29 05:36:35 · answer #8 · answered by Anonymous · 0⤊ 0⤋
If your trying to make money then you watch a type money that is gaining power and buy it cheap and trade it when it gains
2007-05-26 05:36:13 · answer #9 · answered by Anonymous · 0⤊ 0⤋
any currency that you think will appreciate
2007-05-26 06:20:38 · answer #10 · answered by Anonymous · 0⤊ 0⤋