Every Forex Trader Needs These Live Conversion Tools

The Forex Trader analysis tool and currency converter below gives real time live exchange information. Instructions are provided below the Forex Rates conversion tool.  Mobile Users use landscape view as these tools are primarily for desktop and tablets.

Forex Trading Software Instructions:

  1. Enter the amount of your investment in a chosen currency.
  2. Get up to date cash exchange rates should you trade on the live forex exchange.
  3. The live FX rate chart will display exchange rates and various details and charts.
  4. Use the Traveler’s Cheatsheet to print out exchange rates if you travel to another country.
  5. Stay tuned for more forex trader tips.

Inflation and The Forex Trader

You need to understand overall currency economics before getting into more complicated forex terms. Cross currency and bid price versus ask price do not benefit a new forex investor that doesn’t understand forex exchange economics.  Inflation is defined as the increase in the prices of goods and services within a country.  Steady inflation is considered a good indicator of economic growth.  However, when inflation gets out of control central banks within a country like to raise interest rates to moderate the inflation.  Raising interest rates can slow inflation, but it can also strengthen that country’s currency.

Put more bluntly – The higher a country’s interest rate, the better the outlook for currency to rise in value.

live forex chart

Strong Interest Rates and Forex Investing

You can see why, right? Would you rather get a 1% interest rate on your money or 0.75% if you had a savings account?  Sure we would all prefer more than a one percent gain, but one percent is better than less. We will discuss more about interest rates, inflation, and why they are an extremely important driver of currency value.  Currency value for the forex trader is the name of the game.

 

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