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If you have considered using the Forex MegaDroid robot and have looked at the information about the system, you have probably noticed three areas that the makers claim has led the current success of the robot. Let’s look at each of these three areas to get a better understanding of the MegaDroid robot and perhaps learn how it can help you while trading on the currency markets.

Simply put, a Forex Converter is a program that gives the value of one currency against another in real time. There are literally thousands of converters online all with the same function. Most of these converters are easy to use and list all the world’s currencies.

A great deal of information is available about the Forex market. So much information is available, in fact, that it can be difficult to determine where to begin. If you are ready to start trading on the currency markets, you will need to master three important steps.

You may have just gotten used to the latest Forex robot, MegaDroid and yet another robot has become available. The IvyBot Forex trading robot was just introduced. Which robot is better for you? To make an informed decision will require some background information. Let’s look at the new IvyBot Robot.

The greenback fell slightly on Thursday as the Fed announced that interest rates would continue at historical lows and the purchase of Treasuries would be extended for a month. The Fed also had a more positive view of the US economy raising risk appetite and pressuring the dollar. High yielders such as the Australian and New Zealand dollars rose.

Currency traders and investors became somewhat cautious in advance of Wednesday’s FOMC statement. The US dollar fell from a one and a half week against the euro and the dollar struggled against the yen in a trading session that many described as ‘choppy.’ Forex markets saw waning risk sentiment in advance of the Fed’s rate decision.

The US dollar has been getting slammed for the last two weeks in global forex currency trading. Last week there were concerns about the triple A credit rating of the US being downgraded which sent the dollar to a five month low against the euro. Fears of a downgrade faded after Moody’s Investor Service affirmed the credit rating of the US. The euro to dollar rate rose to $1.41 for the first time in 2009 as risk appetite rose on hopes that the global recession is easing.

The dollar rose against the euro on concerns about Germany’s banks brought the Euro’s rally to a halt. Improving consumer confidence also helped the dollar to euro exchange rate. Weak Euro Zone data also put pressure on the euro. The Conference Board’s U.S. consumer confidence index rose to 54.9 significantly higher than the 42.0 that had been predicted for May.

There are many currency converters available online. A few are well known like the Yahoo and the popular XE Universal Currency Converter. These are well known and trusted sites. Other well known and trusted include Bloomberg, CNN Money, and many others operated by reputable companies. All of these sites offer global currency exchange rates in real time.

Currency markets were active last week and Friday’s US jobs report showed better than expected results. The report showed a deceleration of US job losses but this time the reaction of investors was different. In the past good economic news put downward pressure on the dollar as investors dumped dollar denominated assets in favor of higher yielding currencies.

Currency converters serve many purposes. Travelers find currency converters invaluable when calculating transactions in foreign currencies. Business that engage in international trade use currency converters to keep a sharp eye on currency exchange rates which can easily mean increased or diminished profits.