Futures and forex

[domenech]

Hello all,
I have some experience trading futures of indexes, and now, doing some research,
I'm interested to understand the relation between forex and currency futures.

I'm not clear if when we speak about futures contracts on Canadian dollars, GBP, etc., are we speaking about future contracts on CAD/USD, or what is the conection between futures and forex.

Can I have any advice about books /websites or any type of resource to investigate on it?
Thanks in advance

Joan

 

[Rhody Trader]

If you're talking futures listed on US exchanges then the contracts are denominated in USD per unit of XXX. It's like trading XXX/USD in spot terms. That means euro futures = EUR/USD and sterling futures = GBP/USD. Yen futures, though, are derived from JPY/USD, the inversion of USD/JPY.

 

[Martinghoul]

Currency futures are also forwards, so there's going to be that to consider.

 

[domenech]

Thanks,.. a bit more clear now,...
Taking advantage of your answers,... I'm working with the mini down (YM) not to bad but, with only few months of experience in real trading still difficult for me.
I'm not sure if it's better to perseverate or maybe is a good idea to look for a more adecuate future to my experience. Do you think that on currency futures can I found something more quiet for me? Any advice about the best futures to start assuming that start another one means practice, paper trading and time?