How Do You Track the Forex?


Quick Answer

The Forex is not a centralized market index where people can track major currencies. It is a decentralized market consisting of commercial banks, investment management firms, central banks and retail brokers and investors.

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Full Answer

Currency traders can track the overall health of the market by using websites exclusively dedicated to foreign exchange trading. Bloomberg.com and Dailyfx.com provide real-time quotes along with the current exchange rate of major currencies, such as the U.S. Dollar and the Euro. Traders can follow daily foreign exchange news and how the information impacts currencies across the globe. New traders can use easy-to-follow trading strategies offered by Forex websites.

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