Forex fundamental analysis is a complex and thorough method of predicting the situation on the international currency market. Unlike technical analysis, which takes into account only fluctuations in the exchange rate, fundamental analysis proceeds from the fact that many factors affect the value of a currency.
The results of the fundamental analysis of the Forex market in Africa and the conclusions of analysts will be useful for traders who trade currencies of African countries.
Complex of factors for fundamental analysis of the Forex market in Africa.
Fundamental analysis is carried out by leading analysts and experts of the Forex market in Africa. In order to make the most accurate and detailed forecast, they take into account a combination of factors. These factors can be divided into 4 groups:
After analyzing the whole range of factors, analysts make a forecast of the exchange rate of currencies of African countries. The accuracy of this forecast is very high for countries in which the political and economic situation is stable. Force majeure factors are the most difficult to predict in fundamental analysis. Natural disasters, social unrest, power grabs are hard to foresee. But these catastrophes greatly affect the exchange rates.
Benefits of Fundamental Analysis for Forex Traders.
Fundamental analysis of the Forex market in Africa will be useful for traders and investors. The conclusions and forecasts of experts will allow you to make the right decision to buy or sell a particular currency. After reviewing the results of the analysis, traders will be able to conclude profitable deals or get rid of the currency in time, the rate of which will soon begin to decline.
Also, forecasts and conclusions obtained by the method of fundamental analysis are necessary for investors. This forecast has the highest accuracy and reliability. It will be of interest to market participants earning on long-term investments at the currencies of the countries of Africa.
02 - 06 August |
weekly
forecast 02 - 06
August | ||
2021 | EURUSD | GBPUSD | USDJPY |
06 August | EURUSD trading plan: The U.S. economic recovery is progressing rapidly, the labor market is improving and it may be possible for the Federal Reserve to start withdrawing its accommodative monetary policy sooner than some expect, Fed Governor Christopher Waller said. Waller said he has “high hopes” | GBPUSD trading plan: The Bank of England’s Monetary Policy Committee judged that the existing stance of monetary policy remained appropriate. The MPC voted unanimously to maintain Bank Rate at 0.1%. The Committee voted by a majority of 7–1 for the Bank of England to continue with its existing progr | USDJPY trading plan: The weekly unemployment claims report from the U.S. Labor Department, the timeliest data on the economy’s health, also showed the number of people on state jobless rolls dropped in late July to its lowest level since March 2020, when mandatory closures of nonessential businesse |
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