Bitcoin has created a new wave in the currency market in the recent weeks surging newer heights. The rally of the cryptocurrency has also prompted the traders to put their attention on trading currencies. Though currency trading was considered to be a major trading option for decades, the widespread popularity and acceptance by more people is a new trend. While concerns are there regarding the future of the cryptocurrency, standard currency trading has no such worries as each of them are directly linked to the economy of the country it represents.
This year, in particular, saw a spike in the number of traders due to many factors. It is reported that the currency trading is becoming popular in non-traditional trading countries as well. Huffington Post reported that currency trade has got a significant momentum in South Africa, recently. It reports that the investors are happy with the flexibility and high liquidity of the currency trading. See the factors that are making the currency trading a highly popular option in 2017.
Growth of Technology
The advancement of technology in the recent years has influenced the currency trading up to a large extent. The trading currency has become more or less mobile app based deals considering the popularity of smartphone devices. Also, the growth of high-speed internet across the globe paved ways to trade from anywhere. The commitment of some trading platforms to give superior service to the traders have added further innovation required to the industry. With trading tips, alerts, interactive platforms, discounts, special offers, there is a real change visible in the way various platforms responds to traders’ needs. This shift has become a prime factor in making the trading more attractive in 2017
The peculiar features of currency trading is another important element that makes it convenient to all. It is available round the clock considering the various forex markets around the world work at different time zones. It makes sure that the currency trading is possible at odd times, and each trader has more flexibility in choosing their trading time. Currency trading is considered to be the most liquid form of asset trading, and that plays a crucial role in its acceptability across the world. Due to each country, its economic performance, and other predictable factors are contributing the performance of a currency, the trading on currencies are considered to be less volatile considering other trading options.
Some Visible Trends of the Year
As discussed earlier, Bitcoin has given an immediate attention to the currency trading industry. The USD is expected to give a strong performance this year considering the successive hikes in the interest rates in March and June by Federal Reserve. Reports confirm that one more hike can be expected this year and an additional three in 2018. All these are paving ways for a stronger USD, and people can confidently invest in it.
The Pound is expected to continue its downfall considering the recent hung election results and Brexit process. JP Morgan forecasts that New Zealand Dollar would weaken in the coming months due to unsustainable inflation, weaker GDP expectation, fully priced economy to its currency, and more. In Asian markets, Indian Rupee is forecasted to make greater returns considering the country is focused on delivering the healthy fundamentals to support the currency.
The changing world order in the recent years is giving a better opportunity for keen investors to trade in currency and make significant profits. It should be noted that currency trading is more transparent and highly predictable than other trading options, and that is making it more attractive and trustworthy for longer years.