What is Forex and how does Forex trading work?
It serves as the backbone of international trade and investment: imports and exports of goods and services; financial transactions by governments, economic institutions or individuals; global tourism and travel — all these require the use of capital in the form of swapping one currency for a certain amount of another currency.
When trading Forex CFDs, you are essentially speculating on the price changes in their exchange rate.
To see a full list of 24 forex pairs offered by Plus, click here. What economic factors may affect Forex rates?
Forex rates are impacted by an array of political and economic factors relating to the difference in value of a currency or economic region in comparison to another country's currency, such as the US dollar USD versus the Offshore Chinese yuan CNH — these are the currencies 24 forex the two largest economies in the world.
Among the factors that might influence Forex rates are the terms of trade, political relations and overall economic performance between the two countries or economic regions.
This also includes their economic stability for example GDP growth rateinterest and inflation rates, production of goods and services, and balance of payments. To learn more, use our Economic Calendar to find real-time data on a wide range of events and releases that affect the Forex market.