Traders, however, incorporate a much larger range of economic data into their trading decisions and their speculative outlooks can themselves move rates just as investor optimism or pessimism can move a stock above or below the value its fundamentals suggest.
The Hong Kong Dollar: What Every Forex Trader Needs To Know
Economic drivers for the Hong Kong dollar are a bit different than for many currencies. True, economic data on GDP, trade balances torex, current accounts, inflation and the like still matter, but only to a point. After all, the HKD is confined to a narrow trading band so these economic details have only limited impact. What's more, the relationship between China and Hong Kong is such that a Black Wednesday -type raid of the Hong Kong dollar would almost certainly fail. Major banks with super-fast computers can make some money from trading the fraction-of-a-penny moves in the currency, but that narrow range keeps most small speculators away.
Most transactions in the Hong Kong dollar, then, are for the purposes of actual business transactions or the carry trade.
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With low current interest rates the Hong Kong dollar is attractive in the global carry trade. Speculators can borrow cheaply in Hong Kong dollars and use those funds to buy higher-yielding debt in countries like Australia or New Zealand. Unlike freely floating currencies, the eventual unwind of the carry trade will likely not change the range in which the Hong Kong dollar trades, but will instead impact local interest rates and perhaps stimulate capital flight. All the while, the Hong Kong Monetary Authority will use its huge reserves to maintain that desired range of exchange rates.
The broker must have excellent customer service. And, although fo is not compulsory, a lot ths additional valuable services should be there. Despite the fact that in some developing countries Forex regulation is not clear and in some it is even considered to be illegal to trade currencies, in the Western world it is legal and strictly regulated. Each financial crash around the globe has brought about stricter rules for brokers, lowered maximum leverage, increased margin requirements and ousted lots of unregulated brokers. Some countries, which did not have any regulation in the area have already started forming a legal framework for supervision and monitoring of local Forex markets.
Traver came about in after stock markets around the World crashed. The crash started with the Hong Kong stock market and spread to the rest of the World. So, the newly founded regulator introduced strict regulatory measures so that similar events would not happen again. HKSFC issues licenses to brokers who want to operate in the area and then supervises and monitors those brokers how they comply with the rules set by the agency.
How to Verify FMA Authorisation
It carefully monitors all markets operations in Hong Kong and authorizes every product before it is offered by its regulated brokers to trqder customers. What they all forwx in common is that they share an unshakable sense of confidence, which guides their financial performance. He worked at a series of financial firms until he established Soros Fund Management in On Sept. This incredible trade is a highlight of his career and cemented his title of one of the top traders of all time. Soros is currently one of the thirty wealthiest individuals in the world.
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You may not be suitable as you may sustain losses in excess of your initial margin tear. Leverage can work against you. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated.