Earth Charter Chicago

Forex Trading and the Last Quarter of 2009

The Chinese Yuan and Russian currencies are gaining more popularity nowadays. These are two major currencies where the online forex trader can play with. Despite the global economic mess wasting the fortunes of many Western countries including Japan, the Chinese economy remains stable and its even getting stronger, and this their economic strength is reflected in the 60th Anniversary of the founding of the People’s Republic of China and their extravagant displays reminding the world that China is an economic superpower. Russia, on the other hand, has moved away from the disastrous years of Boris Yeltsin, and the economic policies of Vladimir Putin has helped the Russian economy thrive and strengthening of the currency. Thus, the forex trader must not only focus on getting US dollars and hoarding Euros, but investing in the Yuan and Russian Ruble as well.

As some have already noticed, the US dollar is gradually losing strength in the past few months because of several new monetary policies and one of them is quantitative easing which increases the amount of money in circulation. Quantitative easing helped the stock exchange gain strength but the process has not been thoroughly studied and major economies are studying whether to dump the US dollar as the reserve currency of choice or simple doing away with the “green standard” or the dollar standard practiced by many central banks. One engaged in online forex trading should open his mind to the possibility that major nations might gang up and put an end on the dollar monopoly, and choose other standards.