In foreign exchange trading, investors can choose the most suitable type to trade according to the different characteristics of the currency, so that they can get twice the result with half the effort. There are mainly five types of currencies in the foreign exchange market. 1.Commodity Currency
Commodity currencies are mainly the resources and export tendencies of the countries in which these currencies belong. The Australian dollar and Canadian dollar are typical commodity currencies. The main characteristics of commodity currency are high-interest rates, exports occupy a relatively high gross national product, and the major producers and exporters of some important primary products, its exchange rate changes in the same direction as a certain commodity or gold price. 2. Speculative Currency
Both the pound and the yen belong to the speculative currency, The pound is the world's currency. It is currently the most valuable currency. Because of its high exchange rate against the US dollar, the daily fluctuations are also large. In particular, its trading volume is far worse than the euro, so its characteristics are cashed out as Strong volatility. 3. European Currency
The currencies issued by countries that are geographically located in Europe belong to the European currency. The weight of the euro in the US dollar index is 57.6%, which is the largest proportion. Therefore, the euro can basically be regarded as the opponents of the US dollar. Investors can refer to the euro to judge the strength of the US dollar. Because of its large proportion and the large volume of transactions, the euro currencies are the most stable in non-US currencies. 4. Asian sub-Currency
Asian sub-currency is mainly represented by the Japanese yen. If you have any type of concerns concerning where and the best ways to make use of konto walutowe ranking
, you can contact us at our own page. When facing the risk of global economic imbalance, the appreciation pressure of the RMB is often raised to the approval of the yen. 5.US Currency
it has a very close relationship with the US economy. The difference between the US dollar group and the commodity currency is mainly whether these countries are closely related to the US economy, which is reflected in the exchange rate. The trend of the Canadian dollar against the major currencies is consistent
with the trend of the US dollar against major currencies, so in a strict sense, The Canadian dollar is a particularly typical dollar group currency.
I Manisha Bawariya, Market researcher highlighting the topic of Also we provide Forex trading tips and Online Currency tips.