What currency would be the best to buy?
Do you think the $ will continue to devalue? What currency or fund would be the best to invest in now?
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This entry was posted on Saturday, May 3rd, 2008 at 5:15 am and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
May 3rd, 2008 at 5:15 am
Peruvian nuevo sol, baby! That's what MAD MONEY MIKE tells me. And he's never wrong.
May 3rd, 2008 at 5:15 am
any GOLD coinage .
May 3rd, 2008 at 5:15 am
Euro
May 3rd, 2008 at 5:15 am
One of the hardest markets to make money in (Forex) and you're asking strangers whose qualifications and motives can never be known.
You don't even give a time horizon for your question. Virtually any answer you get will, at one time or another, be correct.
To answer your question. One of the cheapest ways to invest in foreign currency markets would be via a savings or CD account with a US based bank.
Check out;
http://www.everbank.com/
There are also ETF's that you can check out.
May 3rd, 2008 at 5:15 am
It is difficult to say, because I don't believe anyone truly knows which way a currency is going to go.
I have listed a source that may help you.
May 3rd, 2008 at 5:15 am
Well if the old adage of buy low sell high applies, the US $ is a good buy right now because it has gone down so low. It can't go down much more, unless we elect someone like Obama who with his promised tax hikes would probably plunge us into a deep recession.
May 3rd, 2008 at 5:15 am
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May 3rd, 2008 at 5:15 am
Don't care.
The managed account that I use takes care of that for me.
I am an Introducing Broker for FXCM.
But, If I had to buy a pair and hold it long term, I would go with
GBP/CHF. The chart shows this pair is getting over sold and is very low.
Mike
inmytreee@aol.com