Every Trader is a Forex Trader

Forex veteran Carlo Pruscino argues that all market participants are effectively forex traders because major assets—gold, oil, crypto—are priced in US dollars. He stresses the dollar’s central role as the global reserve currency and warns that even small shifts in central-bank reserve allocations can cause outsized market moves. Pruscino highlights cross-market correlations (e.g., oil benefits Canada, hurts importers like Japan and Europe) and characterises currencies such as the AUD and JPY by their sensitivity to rates, commodities and carry trades. He advises adapting trade style to volatility, and emphasises three core skills—technical charting, fundamental analysis and emotional control. His 12-month view is cautiously constructive for commodity currencies and the euro, contingent on easing geopolitical tensions and stable global growth. Overall the piece is market commentary reminding traders that currency dynamics underpin price action across asset classes and should inform positioning and risk management.