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Product Description
From the Inside Flap
Currencies are becoming an integral part of many investors′ portfolios and have grown to be a distinct asset class in banks′ investment products. While the mechanics of the forex market and the theories underpinning it have been widely explored, there has been little discussion regarding the practical intermarket relationships shaping currencies via interest rates, equities, and commodities.
Nobody is more familiar with this situation than author Ashraf Laïdi. As head FX strategist at CMC Markets—one of the world′s leading forex/commodity brokers—he understands the forces shaping today′s currency market and their interplay with interest rates, equities, and commodities. And now, with Currency Trading and Intermarket Analysis, he shares his extensive experiences in this field with you.
Following an innovative approach based on what still works and what doesn′t in currency market analysis; applying charts and case studies to intermarket analysis in unprecedented ways; and weighing both old theories and newly emerging phenomena in this arena, Currency Trading and Intermarket Analysis will put you in a better position to assess shifts in economic and market dynamics and make more profitable trading decisions in the process.
Some of the essential issues addressed include:
The latest commodity boom with a breakdown by individual commodity group and its implication for currencies
The relationship between short– and long–term interest rates and how it can be applied to anticipate vital shifts in central bank decisions and turning points in economic growth
The drivers of risk appetite in the market and their effect on foreign exchange
Central bank currency reserves in regions such as the oil–producing nations, and the evolution of power between the Dollar and the Euro
A gold–based approach to valuing the major currencies and determining their secular strengths and weaknesses over the past decades
And much more
Currency trading has increased in size and speed, and so has its impact on the global financial scene. Having a solid grasp of these markets is no longer limited to figuring out interest rate and growth differentials. Currency Trading and Intermarket Analysis outlines the tools needed to understand the macroeconomic and financial nuances of this dynamic field and provides you with insights that are essential to making the most of your time within it.
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Most Helpful Customer Reviews
5 of 5 people found the following review helpful:
5.0 out of 5 stars
This is different from the average trading book,
By
This review is from: Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets (Wiley Trading) (Hardcover)
This is a book about currency trading but it doesn't tell you how to trade.
It goes much deeper, telling you about the relationships, not just between the various currency pairs, but between the foreign exchange market and the stock market and the key commodity markets (primarily oil and gold). Once you know what really drives the markets, you can apply this to your usual trading plan(s), and trade them from a more informed viewpoint. It deals initially with currencies from a historical perspective, from the all important Bretton-Woods period, through the times when Bretton-Woods was abandoned, and through to 2008 and the volatile times following the "credit crunch" etc. It correlates the historical background with what happened to the currencies, stock market and commodities, and allows one to form judgements about the present day situation based on what we know is happening now, and on the background that led up to it. This book is a valuable adjunct to Ashraf Laidi's own website and it is also possible to buy an online workbook that complements the hardback book with up to date information and additional information. (You can find information about the workbook within the forum area of the website). FX, Commodity and Stock traders should all be interested in this unique book.
2 of 2 people found the following review helpful:
4.0 out of 5 stars
A very useful book for the currency trader.,
By
This review is from: Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets (Wiley Trading) (Hardcover)
Found it to be a very enlightening resource on explaining detailed relationships of currencies with other asset classes. Plenty of historical examples given identifying peaks in relationships and also when these relationships broke down. Early chapters provide a very good history on the markets, very useful for the new comer. Latter chapters are far more advanced...Very useful technical measures are also highlighted that can be used to study currency performances in a a more rigorous way.
7 of 9 people found the following review helpful:
2.0 out of 5 stars
Low on content, Big on Errors and Misrepresentation,
By
This review is from: Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets (Wiley Trading) (Hardcover)
I have to say, very disappointed by this book overall. First of all, the book reads more like a history of the currencies with analysis retrofitted to match the data/events that occured. Very boring and very annoying for a person with at least a little understanding of how the markets work, and the tricks that analysts such as the author use. The author is at times ridiculously mathematically illiterate for example:
Page 59, New Zealand Dollar: -114 percent, With triple-digit losses... Triple digit losses, come on, did the currency go to less than 0? Other mistakes of this sort are to be found throughout the book. Other typical analyst talk includes focusing readers attention on how a "bottoming out formation" of a certain line on a chart has lead to this and that, while completely ignoring occasions when the same/similar "bottoming out" didn't lead to anything. However, i didn't rate this book 1* since it does have some useful information. Sections on bond yields and VIX are very relevant and with further research could lead to better understanding of the markets by a trader. Overall, too many pages wasted, too much data cramped together (and the more data the easier to correlate past events remember) P.S author made some pretty bad predictions on what the USD and Oil would do, which again goes to show that retro-fitting and explaining away post fact is what the author is best at doing. Just goes to confirm that it's best to avoid any books on trading/investing by those who teach rather than do. To be honest compared to total rubbish that most of the other forex books are, this one at least has a few ideas worth considering, so 2 stars well deserved.
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