Converting Futures to Forex
There are many reasons one might need to convert forex rates. You might need a different pair for your forex profit calculator, or you are trying to find the forex profit multiplier for your particular trade.
Of the 6 currency pairs listed (majors), there are three that are easy to convert (GBP/USD, EUR/USD, and AUD/USD), while the others (USD/JPY, USD/CHF, and USD/CAD) require a bit more work to fit in your forex profit calculator for forex trading online and finding the forex profit multiplier.
GBP/USD, EUR/USD, and AUD/USD:
Go to www.cme.com and click on e-quivalents
Make sure you use the middle section, and choose the currency from the drop down menu.
Add the "Forward Points" to the futures bid/offer to find the forex equivalent.
Example (from today):
EuroFX: -15 forward points (approx.)
Futures bid: 1.2188
Forex equivalent = 1.2188 + (-.0015) = 1.2173
USD/JPY, USD/CHF, and USD/CAD:
FIRST: Calculate the inverse of the futures quote (1/"futures quote"). For example: if CHF futures bid is .7893, inverse is 1/.7893 or 1.2669.
Then go to www.cme.com and click on e-quivalents
Make sure you use the middle section, and choose the currency from the drop down menu.
SECOND: Add the "Forward Points" to the inverted price. This can be used in your forex profit calculator or forex profit multiplier
Continuing the CHF example, if the Forward Points = 30 (approx), then forex equivalent = 1.2669 + (.0030) = 1.2699