Every day, according to the Bank for International Settlements in Basle, Switzerland, more than $4 Trillion worth of foreign currencies are traded. This trade is between banks, hedge funds, corporations and pension and mutual funds. Some of the trade is driven by ‘real’ need e.g. paying for stocks or bonds bought in a different country, paying for imports of goods or services, or paying taxes in a foreign jurisdiction. Much more of it is driven by the desire of traders to make a profit.
Each morning I will endeavor to take the vast amount of information that gets published daily and shrink it down to a few paragraphs highlighting my views of what is important, and what is likely to drive the price action that day.
And the bonus is every day I write a poem about the key story of that day, just to whet your appetite for more.