The latest report from the Finance Magnates Intelligence Department shows that Latin America is the new bright spot on the global forex trading map. For the first time ever Brazil tops the forex industry’s average deposit ranking in January 2017.
The dollar hit a four-month low against the safe-haven yen on Wednesday as a risk-off mood took hold across markets, with investors rethinking the "Trumpflation trade" that had pushed the greenback to a 14-year peak and stocks to record highs.
After ignoring volatile crude prices for most of the year, the currencies of Norway and Canada are succumbing to a selloff that has knocked 12 percent off the value of their biggest export this month. Russia’s ruble, a favorite destination of carry traders using borrowed dollars to invest in higher-yielding assets, has proved more resilient.
Next trading day's important events
- USDJPY: 110.83
- EURUSD: 1.0812
- S&P 500: 2338.99
- NASDAQ: 5788.41