Ever since the US left the gold standard behind in 1973, the dollar value has fluctuated in line with market forces, economic conditions and the performance of currencies belonging to other countries. For traders who deal in foreign exchange, the expertise in determining the right time to buy or sell dollars is critical to their success. A number of factors influence the currency value of any country and here are some of them. [Read more…]
Oil and Gold Prices Fall as Dollar Strengthens
Both crude oil and gold futures fell as the unexpected news of hike of interest rate in India came through along with the signs of an unlikely help from European Union for the severely debt ridden Greece.
The light, sweet crude oil futures slated for April delivery saw a decline of 2.3% at the New York Mercantile Exchange, valued at a lower rate of $78.83. This is the lowest that the futures have traded since beginning March. Even the May contract for light crude is down 2.2%. [Read more…]
