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Forex is simply a term referring/the exchange of foreign currencies. The Forex market is the marketplace where world currencies are traded. There are many factors that can affect foreign exchange rates, including interest rates, inflation, political conditions, economic growth and national trade balances.
At ETX Capital Forex is one of our most popular markets with thousands of trades being placed each day. Trade the FX markets now.
Quotes from Societe Generale Cross Asset Research:
-USD/CHF took support at our projected level of 0.8707/0.8680, where it is forming a probable double bottom. With weekly RSI approaching a resistance, it will take a decisive close above 0.90 to confirm the pattern. For the day, the pair will inch higher with immediate resistance at 0.8968.
Quotes from Credit Agricole CIB:
-CHF will remain a sell on rallies this week - particularly against high yielders such as the NZD. This is due to additional room provided by improving risk sentiment to sell CHF. Moreover we see little scope for the SNB to become less dovish over the next quarter. From these angles this week's focus will be on the release of inflation and retail sales data.
-Regardless of improved growth prospects, the overvalued franc is keeping monetary conditions tight. This in turn suggests that there is little risk of inflation surprising considerably higher.
-From that angle the CHF is likely to remain driven by global risk sentiment, which we expect to improve further given brightening global growth prospects. All of the above suggests that the market environment will stay in favour of carry trading strategies. Hence we maintain our view that peripheral crosses such as NZD/CHF should be bought and target 0.7880 next week.
