Understanding the Currency Pairs With the Best Forex Currency Trading Course

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In the forex market, the trading of currency pairs is executed.

Forex market, also known as the foreign exchange market.  Forex is the largest and most liquid market in the financial world.  The forex market is open around the clock, 24 hours a day, five days a week (also include most holidays).

Forex conducts buying, selling, and exchanging of currencies.  It helps speculating currencies and allow the currency exchange for international market and investment.  A large amount of currency volume is traded through this market.

All forex trades involve currency exchange. A currency pair acts as a single unit that can be bought or sold.  Buying means you buy the base currency from a forex broker and sell the quote currency. Contrarily, selling the currency pair means you sell the base currency and receive the quote currency.

How are currency pairs quoted?

The quotation depends on their bid (buy) and ask or offer prices (sell).  The bid price is the price the broker uses to buy the base currency from you in exchange for the counter or quote currency. The Ask price refers to the price that the forex broker will sell the base currency to you in exchange for the counter currency.

While trading currencies, you are simultaneously selling one currency to buy the other one. However, when trading stocks or commodities, you would use cash to buy one unit of a commodity or a stack of shares of the stock in question.

The prices of trading currency pairs are affected by:

• Interest rates
• Economic growth or gross domestic product (GDP)

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