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Currency Crosses 交叉货币对: Page 8 of 11

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Trading the Euro and Yen Crosses

After the U.S. dollar, the euro and yen are the most traded currencies. And like the U.S. dollar, the euro and yen are also held as reserve currencies by different countries. So this makes the euro and yen crosses the most liquid outside of the U.S. dollar-based “majors.”

Trading the Euro Crosses

The most popular EUR crosses are EUR/JPY, EUR/GBP, and EUR/CHF.

News that affects the euro or Swiss franc will be felt more in EUR crosses than EUR/USD or USD/CHF.

U.K. news will greatly affect EUR/GBP.

Oddly enough, U.S. news plays a part in the movement of the EUR crosses. U.S. news makes strong moves in GBP/USD and USD/CHF. This not only affects the price of the GBP and CHF against the USD, but it could also affect the GBP and CHF against the EUR.

A big move higher in the USD will tend to see a higher EUR/CHF and EUR/GBP and the same goes for the opposite direction.

Confused? Ok ok…let’s break this down.

Let’s say that the U.S. shows positive economic data causing the USD to rise. This means that GBP/USD would fall, driving the price of the GBP down. At the same time USD/CHF would rise, also driving the price of the CHF down.

The drop in GBP price would then cause EUR/GBP to rise (since traders are selling off their GBP).

The drop in CHF price would also cause EUR/CHF to rise (since traders are selling off their CHF).

Conversely, this would also work in the opposite direction if the U.S. showed negative economic data.

Trading the Yen Crosses

The JPY is one of the more popular cross currencies and it is basically traded against all of the other major currencies.

EUR/JPY has the highest volume of the JPY crosses according to the latest Triennial Central Bank Survey from the Bank for International Settlements.

GBP/JPY, AUD/JPY, and NZD/JPY are attractive carry trade currencies because they offer the highest interest rate differentials against the JPY.

When trading JPY currency cross pairs, you should always keep an eye out on the USD/JPY. When key levels are broken or resisted on this pair, it tends to spill over into the JPY cross pairs.

For example, if USD/JPY breaks out above a key resistance area, it means that traders are selling off their JPY. This could prompt the selling of the JPY against other currencies. Therefore you could expect to see EUR/JPY, GBP/JPY, and other JPY crosses to rise as well.

The CAD/JPY

Over recent years, this currency cross has become very popular, becoming highly correlated with the price of oil.

Canada is second largest owner of oil reserves and has benefited with the rise of oil prices.

On the other hand, Japan is heavily reliant on the importing of oil. In fact, over 99% of Japan’s crude oil is imported as it has almost no native oil reserves.

These two factors have caused an 87% positive correlation between the price of oil and CAD/JPY.

 

欧元和日元交叉盘

       除了美元之外,欧元和日元是交易最为频繁的货币。同时,和美元一样,一些国家也持有欧元和日元作为其外汇储备。所以,日元和日元交叉货币对成为美元直盘之外,流动性最高的货币对。

交易欧元货币对

       最常见的欧元交叉货币对是欧元/日元、欧元/英镑以及欧元/瑞郎。

       消息面对欧元或瑞郎交叉盘的影响较欧元/美元或美元/瑞郎的影响要大得多。

       英国方面消息也会对欧元/英镑造成很大的影响。

       奇怪的是,美国方面消息也会对欧元交叉盘走势造成较大影响。美国方面消息会对英镑/美元以及美元/瑞郎造成强劲影响。这不仅会影响到英镑和瑞郎兑美元的汇价,也有可能影响到英镑和瑞郎兑欧元的汇率。

       美元的走强可能促使欧元/瑞郎以及欧元/英镑的走强,而美元的走软,也可能促使欧元/瑞郎以及欧元/英镑的走软。

       迷惑了?好吧,让我们分开细说。

       比如说,美国方面公布的正面经济数据导致美元走强。这意味着英镑/美元将下跌,进而打压英镑走低。与此同时,美元/瑞郎将走高,这也会打压瑞郎下跌。

       英镑汇价的下跌将导致欧元/英镑的上涨,因为交易者都在卖出英镑。

       瑞郎的下跌也会导致欧元/瑞郎的上涨,因为交易者都在卖出瑞郎。

       与之相反的是,如果美国方面公布的经济数据表现负面,则可能导致相应货币对走势呈相反方向波动。

交易日元交叉盘

       日元也是最受交易者欢迎的币种之一,日元基本上可以和所有的主要货币进行交易。

       截至2010年2月,欧元/日元在日元交叉盘中的交易量达到最高水平。

       英镑/日元、澳元/日元、纽元/日元也是吸引人的套息交易货币,因为上述货币与日元的利差最大。

       当进行日元交叉盘交易时,你应该始终对美元/日元保持关注。当美元/日元突破关键价位时,日元交叉盘也会受到明显影响。

       比如说,如果美元/日元突破某一关键阻力位,则意味着交易者正在卖出日元。这可能促使他们也同时卖出日元兑其他货币。因此,你应该预计欧元/日元、英镑/日元以及其他日元交叉货币对也走低。

加元/日元

       在最近几年,加元/日元已经变为非常流行的交叉货币对,该货币对与油价的关联性也非常之高。

       加拿大所有用的石油储备居全球之二,该国也因油价的上涨获益颇多。

       另一方面,日本则严重依赖石油进口。事实上,日本99%的原油都是进口的,因为该国几乎不存在天然的石油储备。

       上述两方面因素导致油价和加元/日元之间的正关联性达到87%。