2019 is behind us, let’s recap what this year meant for the forex market. Here are the three best performing currencies in the world in 2019.

Canadian Dollar (CAD)

The Canadian Dollar was one of the best performing major currencies in 2019, having notched up a considerable gain against the United States Dollar (USD) over the course of the calendar year. On the 31st of December, 2019, the USD fell for a fifth straight day against the CAD, dropping below the C$1.30 mark for the first time in over a year.

As of the 4th of January 2020, the USD stands at C$1.30, having started 2019 at C$1.34. The CAD stood firm throughout the year, with the USD standing against the CAD in between the range of C$1.35 and C$1.31 throughout the year, achieving C$1.35 on the 1st of June.

Russian Ruble (RUB)

The Russian Ruble, too, performed well in 2019. The RUB started the year with the USD standing against the RUB at ₽67.15. This fell to ₽62.56 on the 24th of June, before rising to ₽66.79 on the 2nd of September.

The standing of the USD against the RUB has fallen ever since and stands at ₽62.05, at of the time of writing. The Russian Ruble might have a strong 2020, and the standing of the USD against the RUB could further dip to the ₽55 region, come the end of the year.

Egyptian Pound (EGP)

The Egyptian Pound had a stellar 2019, starting the year with the USD standing against the EGP at E£17.89. It remained in the E£17.85-E£17.90 region till the last week of January (24th of January), after which it experienced a steady fall.

As of the 27th of December, the USD stood against the EGP at E£16.04. The Egyptian Pound is expected to experience another good year, and could according to WalletInvestor forex signals dip to the E£15.5 region, come the end of 2020.

Conclusion

While the above-mentioned currencies had an exceptional 2019, this should not be a cornerstone around which you determine your investment strategy. You must perform your due diligence, look at other currencies, the plans their respective Governments have for 2020, and other aspects which could affect their prices. The forex market is not as volatile as for example Bitcoin, but it is still by no means a market without sudden price swings. So while picking forex pairs you want to trade in 2020, mind you, trading of any sort is not easy.