Controlling the critical variables in the Singaporean Forex market
In any business, critical factors can make or break your success. The same is true in the forex market. If you don’t have a firm grasp of the major driving forces in this market, you’re likely to fail.
So, what are these critical factors? Let’s take a look.
Economic data
It’s perhaps the most crucial factor that affects forex prices. Central banks worldwide constantly release economic data, which can have a significant impact on currency values. For example, if a country releases solid economic data, its currency will usually strengthen against other currencies.
Interest rates
They can significantly impact currency values, especially in the long run. For example, if a country’s interest rates are higher than other countries, its currency will usually appreciate over time.
Geopolitical factors
Geopolitical factors can also have a significant impact on the forex market. For example, if there’s political instability in a country, its …