The most profitable currencies today in the currency market

The most profitable currencies today in the currency market
The most profitable currencies today in the currency market

Commodity currencies topped the list of currencies with the highest gains during the foreign exchange market trading today, Friday, due to the high risk appetite among traders. Thus, it captured the fourth place in terms of winning currencies.

The most profitable currencies today in the currency market

During today's trading, the New Zealand dollar occupied the first place in the list of the most profitable currencies, as the appetite for risk improved in today's trading and supported the rise in the profits of the New Zealand dollar in the foreign exchange market, due to its correlation with commodity currencies and the increasing demand for them.

In second place, the Australian dollar achieved good profits against other foreign currencies, benefiting from the recovery of risk appetite during trading, which prompted the demand for the Australian dollar, and the statements of the Australian Treasury Minister about inflation rates contributed to supporting the Australian dollar, as he indicated that inflation is moving in the opposite direction. Right, but there is a long way to go for the RBA to tackle inflation.

And in the third place was the Swiss Franc, which benefited from the US dollar's losses in today's trading and the growing expectations that the Swiss National Bank will tighten its monetary policy to address the rise in inflation.

In addition, the euro or the single European currency achieved the lowest gains compared to its counterparts of other currencies during today's trading, and this came in light of the markets' anticipation of the new interest decision that is scheduled to be issued at the current meeting of the Monetary Policy Committee of the European Central Bank.

It is noteworthy that the movements of the euro in the currency market are strongly affected by news and current economic and monetary events in the euro area, and the decisions of the European Central Bank regarding monetary policy play a major role in shaping its trends. Therefore, the anticipation of the markets and expectations of these events can significantly affect the performance of the euro in the currency market.

These points summarize the events that occurred in the foreign exchange market and affected the performance of various currencies during that period.

gold today

gold today
gold today

Gold prices witnessed a noticeable rise at the end of the week’s trading, as it succeeded in compensating a large part of the losses incurred during the previous session. Fears of reinforcing the rise in US interest rates again caused gold prices to decline in the previous session, and these concerns escalated during that session after the issuance of A number of positive US economic data.

On top of these data were the US unemployment claims data and the US economic growth data during the second quarter of this year. These data affected investors' expectations regarding the US interest policy, which led to the fluctuation of gold prices in the market.

It is noteworthy that gold is considered one of the safe havens that investors resort to when economic and political tensions increase, and its prices are affected by several factors, including interest policy expectations in the United States, the state of the global economy and geopolitical developments. Therefore, the performance of gold and its movements in financial markets is closely followed as an indicator of trends. economic and investment for investors.

A popular cryptocurrency meme is excelling in the crypto market

The "Doge Coin", favored by the American billionaire Elon Musk, witnessed a big jump today, and this is its largest rise in one day, but nevertheless, these gains were pared over the past few hours with the approaching issuance of the interest rate decision from the US Federal Reserve.

In the past few hours, the "Dogecoin" currency excluded itself among the digital currencies with a large market value, as it rose after the American businessman Elon Musk changed his logo on "Twitter", where he replaced the famous blue bird on the site with a modern design (x), Musk also added the Dogecoin ticker logo to his profile, fueling speculation that Dogecoin will play a bigger role in his companies after the name change.

It is reported that Dogecoin is a digital currency that was established as a form of entertainment in the beginning, but it became very popular thanks to the support and constant tweets by Elon Musk, which greatly affected its value in the markets. Recent changes to Musk's Twitter account show that he may intend to give Dogecoin more prominence in his business and future projects.

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