This week on Making Cents the team go over world of foreign exchange (forex or FX) and currency trading; including some of the recent events such as the Turkish Lira and the impact of Brexit on the Pound. The forex market is open 24 hours, 5 days a week and is the largest asset class that can be traded.

High liquidity (how fast you can buy and sell) plus leverage (borrowing money to trade), make the forex market very enticing for professional and amateur investors alike. As such we think it Makes Cents for you to have at least a basic knowledge of how it works.

Topics covered include:

• Why are there fluctuations in foreign exchange rates?

• What drives the changes in exchange rates?

• Is there a natural rate at which currencies should exchange?

• How can you make money from trading currencies?

• What are the dangers from trading currencies?

• Are there any other ways of making money from currencies other than trading?

As always thanks for listening and hope you enjoyed

MCP Team

PS apologies for last week’s poor sound quality, this episode (E44: China in Africa) has been re-edited and sounds much better now.

Links:

What Is Forex? SIMPLIFIED

https://youtu.be/NhFlqFVBmxc

What is Foreign Exchange?

https://www.investopedia.com/terms/f/foreign-exchange.asp

Take-Profit Order - T/P

https://www.investopedia.com/terms/t/take-profitorder.asp

Stop-Loss Order

https://www.investopedia.com/terms/s/stop-lossorder.asp

Factors that influence exchange rates?

https://www.investopedia.com/articles/basics/04/050704.asp

Why foreign exchange market matters?

https://www.ft.com/content/a3b9e74c-ba6f-11e3-aeb0-00144feabdc0

Beginners guide to currency trading?

https://www.independent.co.uk/money/beginners-guide-to-currency-trading-a7568956.html

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Making Cents Team:

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Jay

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Kalisha

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