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Tuesday, September 1, 2009

What are commonly traded currency pairs (Majors) in forex trading ?

The most popular currencies along with their symbols are shown below:

Symbol

Country

Currency

Nickname

USD

United States

Dollar

Buck

EUR

Euro members

Euro

Fiber

JPY

Japan

Yen

Yen

GBP

Great Britain

Pound

Cable

CHF

Switzerland

Franc

Swissy

CAD

Canada

Dollar

Loonie

AUD

Australia

Dollar

Aussie

NZD

New Zealand

Dollar

Kiwi

Forex currency symbols are always three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.

When is the time to trade forex ?


Forex can be traded 24 hours a day and 5 days a week. The main trading centers are in London, New York, Tokyo, and Singapore, but banks throughout the world participate. The biggest foreign exchange trading centre is London, followed by New York and Tokyo. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the US session and then back to the Asian session, excluding weekends.

The following approximate market schedule is based on New York local time: japan forex markets open at 19:00 followed by singapore and hong kong that open at 21:00. European markets open in frankfurt at 2:00, while london opens at 3:00. New york forex markets open at 8:00. European markets close at 12:00 and australian markets start again at 18:00.