Kara Ordway, Forex Strategist at City Index Australia said, "The Australian dollar has shown some resilience not only against the US dollar but also against the Euro during the past few months. And this is creating some support for the Aussie."
With the lingering issues in Europe and tentative economic growth in the US, the Aussie dollar may continue to be supported at its current level or slightly higher range.
In turn, this could create more trading opportunities particularly for short-term and active forex traders.
Role of Forex in your Portfolio
Miss Ordway added, "As equity markets around the world continue to suffer due to negative sentiment, we are seeing traders getting more active in forex trading,"
"There is definitely room for forex trading in a retail trader's portfolio and I think more people are realising that and acting on it now."
Trading Forex with City Index Australia
With City Index, you can trade all the major currencies to take advantage of trading opportunities in the global markets. The trading of forex is a leveraged product and carries a greater degree of risk and is not suitable for all investors.
City Index offers an online trading platform with full features and capabilities for trading forex.
The full range of platforms available will provide you access to global market news, charts and market analysis that could help with your trading strategies.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
City Index is a leading global provider of margined foreign exchange and CFD trading. As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. To learn more visit: http://www.cityindex.com.au/