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4 Currencies Which Every Forex Trader Must Keep an Eye on in 2016

Forex traders must keep an eye on currencies, which are expected to fluctuate in 2016. The reasons behind their fluctuation are varied in nature. Chinese Yuan, Canadian Dollar, Euro, Brazilian Real are the currencies which are expected to undergo fluctuation this year. Brief information has been offered in this regard.

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4 Currencies Which Every Forex Trader Must Keep an Eye on in 2016

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  1. 4 Currencies Which Every Forex Trader Must Keep An Eye On In 2016

  2. Introduction In the last year, there have been some major developments in the currency market. The value of the U.S. dollar has been increasing rapidly whereas the Chinese yuan has been devaluating in comparison to other currencies. Some of the currencies which are expected to display unexpected trends in 2016, have been discussed in the next slide.

  3. Chinese Yuan The value of yuan is not generally affected by market forces. The Central bank of China uses a managed float system to maintain the value of currency in comparison to the leading currencies in the world. But due to certain economic reasons, it has been sliding in the last few months.

  4. Canadian Dollar The Canadian dollar has depreciated by 16% in the last year. The major reasons behind this are attributed to recession in Canada, decline in global economic progress, couple of interest rate deductions by Canada's Central Bank, drop in the prices of crude oil and other commodities.

  5. Euro The crisis in Greece has lowered the value of the Euro in the last year in comparison to the US dollar. Some trade analysts believe that the Euro would attain parity with the US dollar. There is also a contradictory view that there will be a slight decline in the value of Euro, this year.

  6. Brazilian Real The Brazilian Real has been constantly declining since 2010. Deep recession, political stalemate and rampaging corruption are the likely reasons behind this. In 2016, this currency is expected to tumble further down.

  7. Contact US Address : Suite 501 132 Arthur Street North Sydney 2060 NSW Phone no : +61 2 8412 6000 Email Id : info@learntotrade.com.au Website : www.learntotrade.com.au View Larger Map

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