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The Top 8 Currencies To Trade

bradip@Flickr

bradip@Flickr

With trillions of dollars in currencies exchanging hands each day, the market for money draws considerable interest for traders.

The currency market is becoming more democratized, as well. Online brokerages offer nearly limitless access to currency exchanges, like Forex. Trading currency is also popular because there’s a potential to make a lot of money quickly.

If you don’t adjust for risk and prepare for emotionless trades, you can lose a lot of money, too.

Here’s the Globe Mail list of the top eight tradable currencies.

The Dollar

It may have been beaten around a bit the past few years, but the dollar is still considered a currency haven. The massive deficit may change this, though.

The Euro

It’s often used in pair trades with the dollar. It tends not to have excessive price swings.

Yen

The Yen is seen as a barometer for the Asian economy. Experts also say this is a volatile currency to trade.

British Pound

London is the financial capital of the world and the British Pound is still a popular currency trade. The pound has a wide trading range.

Swiss Franc

Traders consider the Swiss Franc a very “slow,” with minimal price fluctuations.

The Loonie

The Canadian Dollar isn’t volatile, but does trade in synch with the market for crude oil.

Australian/New Zealand Dollar

A favorite of “carry traders,” the Australian/New Zealand Dollar is often dependent on precious metals, especially silver and gold.

South African Rand

The Rand is one of the most volatile currencies on the list. It’s a favorite of traders who can bear a lot of risk.

If you’re interested in trading currencies, INO is our recommended provider of real-time Forex information. INO is also one of the premier learning sites on the web for traders.

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