Excerpt from: GFT Analysts in the News
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| October 15, 2008 | | Currency trading with the Aussie and the kiwi | Right now, down under currencies are taking a hit in forex trading as the commodities they rely on fall on the market. (Oil prices are moving below $80 a barrel this morning.)
In currency trading, the Aussie and the kiwi are supported by the global economy, and the trade in commodities. With stock markets retreating again, and with a global recession considered inevitable, down under currencies are heading lower in forex trading.
Risk aversion also means that the yen carry trade, which generally benefits the kiwi and the Aussie, is unwinding.
| Topic Tags: Aussie, currencies forex trading, currency trading, currency trading kiwi, down under currencies, forex trading, oil prices, recession | |
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