OptionRally is expected to release its annual expectations for the Foreign Currency sector for 2016 to its investors in the coming month. The report presents an outlook for foreign currency prices, suggesting that, inter alia, investors should go long on the US Dollar at this point.
"Foreign currency prices are expected to follow a strengthening US Dollar with the Yen moving similarly, though less powerfully. The Rubble and the Canadian Dollar are likely to weaken more significantly than the relative strengthening of the USD. Terror incidents both in the Middle East and the world will also adversely affect those currencies areas victimized," asserts Timothy Harris, Senior Broker at OptionRally and one of the report's writers.
"First, the Syrian civil war and Russia's military intervention could weaken the Ruble and the Turkish Lira and lead to a significant blowback for foreign currency trading. This will leave the US Dollar as the world's main foreign currency and lead to a steep rise in the price of the USD versus its trading partner currencies," states Harris.
"Second, an escalation in global terror leads to violent reactions between Middle East countries, causing them to fight amongst themselves. This regional tension prompts terrific fear and uncertainty in the Foreign Currency markets."
"Third, foreign currency has experienced a realignment of proportions not seen since US president Richard Nixon took the United States off of the gold standard in 1971. We are living in very historic times from a foreign exchange perspective," explains Harris.
Harris joined OptionRally after holding several high-profile positions within the finance industry. Specializing in the Foreign Exchange markets, Harris focuses on building structured investment plans for his 190 worldwide clients.
*This item has been prepared solely for information purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151224005235/en/
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