The Euro and the US dollar are two of the largest currencies in the world. They each represent the biggest economic and trading associations, leading the most significant multinational corporations to conduct business in these regions.
The European Union is known as the international center for finance, which ultimately increases the significance of the Euro currency. It’s worth noting that the US dollar is the most popularly traded currency in the world. On a plus note, the EUR/USD currency has high liquidity which therefore can result in volatility. This makes it a great place for beginners to start their Forex trading journey.
There are several important facts related to Forex trading that you should know, especially when you choose to trade the EUR/USD pair. As mentioned earlier, it is one of the most popular assets to trade. Certain factors that can determine the EUR/USD rate include:
- The strength of the US and EU economies – if the US performs better, the pair will often lose its value; however, when the EU is the higher performer, the pair goes up.
- The state of political stability in each region.
- Economic data can quickly impact the rate of the EUR/USD pair.
It’s interesting to note that this asset which can be easily bought and sold is also used to determine the price of Gold.
With our latest tools and technology, you can effortlessly trade EUR/USD at Almahfaza. We provide traders with a responsive platform to easily and quickly open and close trades. Traders can also take advantage of Almahfaza’s educational tools and charts that can help in making better trading decisions.