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5 Most Volatile Currency Pairs In 2024
Prices of these currency pairs are known to change a lot.
Published September 15, 2024.
Forex trading volatility is the degree to which the price of a currency pair varies over time.
A volatile market is sometimes appealing to traders because of the potential profit. The higher the volatility, the greater the price swings and possibilities to make significant returns. However, this also involves higher risks.
Note: Fortrade offers the ability to trade the price changes of instruments with CFDs and NOT to buy/sell ownership of penny stocks themselves.
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5 Most Volatile Currency Pairs
1. AUD/USD
The value of AUD (Australian dollar) largely depends on exporting commodities—for example, coal briquettes, iron ore, gold, and wheat.
Beside fluctuating demand (mainly from the Asian market), these products are vulnerable to natural disasters. Tsunamis and earthquakes can affect manufacturing facilities, logistic depots, and shipments, which can shake AUD's value.
2. GBP/USD
British pound sterling and USD account for 16% of all FX swaps in the UK.
GBP's volatility often follows the Bank of England's fiscal policy.
For example, interest rates or quantitative easing (QE) measures can impact investor confidence and economic expectations, and subsequently the GBP.
3. EUR/GBP
Two of the most regularly traded currencies have become a highly volatile currency pair since Brexit.
With the future economic relationship between the EU and the UK no longer inextricably linked, price fluctuations have significantly increased.
4. CAD/USD
This currency pair fluctuates based on Canada's commodity economy compared to the US dollar.
Canada is a major producer and exporter of oil, so oil prices play a great part in the strength of CAD. On the other hand, the American economy is more diverse and doesn't depend so heavily on a single commodity or industry.
5. NZD/USD
NZD (New Zealand dollar) mainly exports agricultural products, including eggs, milk, meat, and timber.
These can be impacted by changes in global demand and climate patterns that affect crop yields. This is in contrast with the diverse American economy that encompasses a broader array of industries.
» Not sure what are exotic currency pairs in forex trading?
Finding Possibility in Forex Volatility
Volatility in foreign exchange currency pairs presents possibilities for seasoned and well-informed investors to make profits. But it can also very easily lead to losses.
By staying informed about the market through financial communities such as Fortrade, you could potentially increase your chances of making good trades.
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