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The Foreign Exchange Market (Forex, FX, or Currency Market) is a leading global, financial market for trading currencies. It is the most heavily traded international market, with over $4 trillion in daily volume.
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Forex Currencies

The pair consists of the U.S. and Australian currency. A major factor which has an influence on the pair is the difference between interest rates of Reserve Bank of Australia (RBA) and the Federal Reserve (Fed). Both financial institutions define the value of each currency. If the U.S. dollar gains strength (mostly because of the Fed activity in the market), the AUD value can go down, and the pair value will follow the same trend.

The pair has a correlation between other major USD-incorporating pairs such as USD/JPY, USD/CHF, and USD/CAD. Since the pair is not quoted in the American dollar, its correlation is generally negative. The Canadian and Australian currencies have a positive correlation due to their commodity nature. Oil and gold prices also have an influence on both of the currencies, including direct negative correlation between the U.S. dollar strength and gold price movement.

The AUD belongs to Commodity Currencies group. Australia is rich of natural resources, including gold, coal, iron and aluminum. The country also has a well-developed farming sector and the industrialized economy. However, Australia has a strong need of import products and goods as it cannot produce them by its own production capabilities. It means that the trade deficit can have an impact on the position of the Australian dollar, and its trade balance depends on its export and foreign demand for goods and resources.

The USD is a major reserve currency in the world. Many financial institutions of Europe and Asia formed their reserve in the USD because of its stability. It is often used as a major payment method for commodity operations and debts denomination. The benchmark status of the U.S.dollar makes it an official currency of many countries. It also serves as an unofficial payment method for other countries. This currency is widely used in transactions and has the biggest trading volume in the global exchange.

Both currencies in this pair are highly liquid. The EUR/GBP pair is one of the most popular pairs among global exchange traders. It is easy to forecast its movement, and this predictability makes it a good trading instrument for beginning traders. It has the most active trade during the European trade session, as the liquidity and trading activity of the pair decrease during other trades. Moreover, its low volatility is not restricted from taking big profit from the trade since both currencies are high-valued.

The GBP position is mostly influenced by the trade situation with the U.S. and EU, and general country economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trade instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the pair position in the global exchange market.

The EUR/GBP pair does not include the U.S. dollar but has a strong relation with the American currency, main economic events and other factors which are to be taken in consideration to trade effectively, including jobless claims, GDP, unemployment or interest rates. EUR/USD and GBP/USD charts are related to the pair movement.

Both currencies in the pair represent the two most developed economies of continental Europe and volatility of this pair is low compared to other pairs. The GBP has the 4th highest trading volume in the global exchange market. Daily trade of the currency is at over 13% of the general volume. The EUR is placed 2th in daily trading volumes and also serves as one of reserve currencies along with the U.S. dollar, while the pound is 3rd.

The Euro is a currency of 19 European countries, and currencies of some countries are based on the Euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the Euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the Financial crisis and Brexit, the position of the currency does not seem so stable as it was.

Sweden does not want to join the Eurozone and this fact has to be in consideration if a trader is going to trade currency pairs with the SEK. For now, the country has not met requirements of currency exchange protocol ERM II. The most weighting factor of an influence on the currency is the monetary policy of Sweden's central bank (Riksbank) because the SEK is a freely floating currency. Major changes in economic policy of the European Union and U.K. can also influence the position of the SEK. The SEK is influenced by global economic events, country export and trade balance. Another vital factor is oil and gas prices changes in the global market.

The currency pairs incorporating Nordic currencies like SEK or NOK are not very popular trade instrument against other currencies (including the major ones). The EUR/SEK pair does not have a big trading volume comparing with popular currency pairs. Sometimes the pair has a high volatility which brings opportunities and risks. The country position for the EUR implementation is another factor to take into account while trading. Any event that strengthen the EUR has an influence on the pair, but global trade events are more important to consider if the trade includes pairs with Nordic currencies.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

The Euro is a currency of 19 European countries, and currencies of some countries are based on the Euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the Euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the Financial crisis and Brexit, the position of the currency does not seem so stable as it was.

Since the pair consists of the two most popular currencies with competing large sizes of trading volume and liquidity rating, the EUR/USD is one of the most popular pairs among traders as a trading instrument. Both currencies have a stable rating and their movement is comparatively easy to forecast as it is based on local and global political and economic events. However, some events such as European Debt Crisis or real estate sector problems can create volatility peaks. That is why some long-term consequences have to be considered while trading.

The USD is a major reserve currency in the world. Many financial institutions of Europe and Asia formed their reserve in the USD because of its stability. It is often used as a major payment method for commodity operations and debts denomination. The benchmark status of the U.S.dollar makes it an official currency of many countries. It also serves as an unofficial payment method for other countries. This currency is widely used in transactions and has the biggest trading volume in the global exchange.

The GBP position is mostly influenced by the trade situation with the U.S. and EU, and general country economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trade instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the pair position in the global exchange market.

The GBP has the 4th highest trading volume in the global exchange market. Daily trade of the currency is at over 13% of the general volume.

Since the GBP/USD pair is influenced by the factors which affect the value of the British pound and/or the U.S. dollar, it is vital to look for the emitting banks policy. The interest rate difference between the Bank of England (BoE) and the Federal Reserve (Fed) affect the value of both currencies. When the Fed intervenes in market operations to make the U.S. dollar stronger, the results of such an inclusion make the value of the GBP/USD decline.

The GBP/USD pair tends to have a negative correlation with the USD/CHF pair and a positive correlation with the EUR/USD. The pair may have hardly predictable peaks, inspired by some specific news or reports.

The pair of the U.S. and Canadian dollars is one to the most traded pairs in the global exchange market. Its position is affected by the U.S. economic, political events and changes of commodity prices in the market (due to the nature of CAD). The changes in the stock market indexes of U.S. companies also have their influence.

The USD is a major reserve currency in the world. Many financial institutions of Europe and Asia formed their reserve in the USD because of its stability. It is often used as a major payment method for commodity operations and debts denomination. The benchmark status of the U.S.dollar makes it an official currency of many countries. It also serves as an unofficial payment method for other countries. This currency is widely used in transactions and has the biggest trading volume in the global exchange.

The CAD serves as the fifth most traded reserve currency in the world, and 2% of all global reserves are estimated in the Canadian dollar. A strong sovereign position of the Canadian government and stability of the country systems (political, economical and legal) makes the CAD popular among other banks.

The USD/CAD position is affected by factors that influence the value of the U.S. dollar, the Canadian dollar, or both of them. The main influencing factor if the interest rates difference between the Federal Reserve (Fed) and the Bank of Canada (BoC). The strong U.S. dollar provides an ability to buy more Canadian dollars. Another important factor is commodity prices since the Canadian economy is affected by changes in oil and gas prices. The U.S. is also affected, but it has a strengthening support from other segments (apart from gas and oil).

In relation with other currency pairs, the USD/CAD pair has a negative correlation with three pairs, quoted in the U.S. dollar: AUD/USD, GBP/USD and NZD/USD.

Because of its small trading volume, the USD/HKD pair belongs to exotic currency pairs. Since the pair incorporates the USD, it has a low volatility during the trading time, and its movement can be easily forecasted. This pair often has long low-activity periods, the quality of trading instrument is not appropriate for all trading strategies.

The USD is the major reserve currency of the world. Many financial institutions of Europe and Asia formed their reserve in U.S. dollars because of its stability. It is often used as a major payment method for the commodity operations as well as for the debts denomination. The benchmark status of the U.S.dollar makes it be official currency of the many countries and it also serves as the unofficial payment method for other countries. It is most widely used currency in the global transaction and has the biggest trade volume in the global exchange.

The HKD is treated as the world’s eighth most traded currency, but often is out of traders’ attention because of relatively low volumes. Some analysts define this currency as “unusual”. In Asia, the Hong Kong dollar is the third most tradable currency. It is supervised by Hong Kong Monetary Authority and does not have free trade ability. The stability of the currency is maintained through automatic regulation of the exchange rate and interest rates, while the Hong Kong Monetary Authority does not use aggressive monetary policy to operate the currency. However, the bank can issue the currency only if a deposit of the equivalent U.S. exists, because the exchange rate is linked to the USD. The Hong Kong exchange fund, which backs the operation and the currency, is one of the largest in the world. The U.S. dollar officially serves as a reserve currency for the Hong Kong banking system and as a monetary base in the “linked exchange system”.

Japan has one of the most developed economy in the world, as well as the U.S. Its status makes the pair highly liquid. Trading volumes of the USD/JPY pair places second in the global exchange, and the pair has 17% of the daily trade volume.

The USD is a major reserve currency in the world. Many financial institutions of Europe and Asia formed their reserve in the USD because of its stability. It is often used as a major payment method for commodity operations and debts denomination. The benchmark status of the U.S.dollar makes it an official currency of many countries. It also serves as an unofficial payment method for other countries. This currency is widely used in transactions and has the biggest trading volume in the global exchange.

The JPY is one of the most heavily traded currencies alongside the U.S. dollar. It is placed first to trade in Asia and fourth - in the world. However, a continual decline in Japan's economy does not make the currency one of the reserve ones. For now, JPY still takes an important place in global financial operations and the Japanese economy is the second largest in the world after the U.S.

The USD/JPY pair is affected by factors which influence the value of the U.S. dollar, Japanese yen, and other currencies as well. The main point of influence is the interest rates difference, and the policy of Federal Reserve (Fed) and the Bank of Japan (BoJ) both affect the USD/JPY position. The BOJ policy with retaining refinancing rates close to 0 makes the JPY a popular currency, while the USD can be vulnerable to the deficit in trade balance of the country and weighted by countries with developing economies.

The USD/JPY pair has a positive correlation with the USD/CHF and USD/CAD, since both currency pairs include the U.S. dollar.

A close connection between Mexican and U.S economies, due to the strong trading, makes this pair interesting for the traders who play with emerging markets currencies. The pair is treated as an exotic one, and the MXN is emitted by the country with the emerging market economy. The pair gains its volatility from oil price changes.

The USD is the major reserve currency of the world. Many financial institutions of Europe and Asia formed their reserve in U.S. dollars because of its stability. It is often used as a major payment method for the commodity operations as well as for the debts denomination. The benchmark status of the U.S.dollar makes it be official currency of the many countries and it also serves as the unofficial payment method for other countries. It is most widely used currency in the global transaction and has the biggest trade volume in the global exchange.

The Mexican peso during some period of time was treated as the 8th most actively traded currency in the world, and the 3rd most traded currency in American continents (after the USD and CAD). In Latin America it was placed first. In fact, some United States establishments in the border area accept MXN as well (some border Wal-Mart stores, Circle K gas stations, or La Bodega supermarkets, located on the border). Even some Guatemalan and Belizean border towns use the MXN.

lose ties between Mexican and U.S. economies make the USD/MXN interesting for traders. This connection sometimes serves as a restriction. In general, the U.S. economy strengthens the Mexican economy, but in case the Mexican currency gains too much, the situation slows the MXN down because Mexican goods lose their price comparing with other imported goods. Mexico does not manipulate the currency, but the USD/MXN position is naturally affected by the international trade agreement involving the U.S.(such as North American Free Trade Agreement settled by the U.S. and Canada, and Mexico).

The USD/RUB pair consist of the stable U.S. dollar and commodity-dependant RUB. The pair is an exotic one, and its movement is strongly related to oil prices and other factors connected with oil production and industry. The pair has a relatively small trading volume.

The Russian currency, rouble, is used on the territory of Russian Federation and within two partially recognized republics of Abkhazia and South Ossetia. Russia is one of the leading oil producers since 2001 and global prices on oil and energy have a strong influence on that currency. The country economy belongs to the high growth one, but it is also vulnerable to changes of the global financial market and crises.

The USD is the major reserve currency of the world. Many financial institutions of Europe and Asia formed their reserve in U.S. dollars because of its stability. It is often used as a major payment method for the commodity operations as well as for the debts denomination. The benchmark status of the U.S.dollar makes it be official currency of the many countries and it also serves as the unofficial payment method for other countries. It is most widely used currency in the global transaction and has the biggest trade volume in the global exchange.

International relations between Russia and the U.S., which are historically-complicated, have an influence on both economic and political segments, and the USD/RUB currency pair as well. Due to the commodity-dependant nature of the currency, events on the oil and gas market can influence the RUB. The USD serves as a stable and safe currency comparing with the Russian rouble. Because of the current situation on the oil market, the crude price volatility makes the pair more volatile than it was.

This pair can be unavailable on some Forex platforms, but it is very popular among traders from Russian Federation and some other CIS countries.

This pair is an exotic one and has low trading volumes, that is why it is not popular among traders. It is vulnerable to the gold price movement and this fact makes the pair highly volatile. The ZAR is affected by commodity market events and restrictions formed by the monetary policy of the emitting bank. The difference between interest rates of central banks of South Africa and the U.S. also has an influence on it.

The USD is the major reserve currency of the world. Many financial institutions of Europe and Asia formed their reserve in U.S. dollars because of its stability. It is often used as a major payment method for the commodity operations as well as for the debts denomination. The benchmark status of the U.S.dollar makes it be official currency of the many countries and it also serves as the unofficial payment method for other countries. It is most widely used currency in the global transaction and has the biggest trade volume in the global exchange.

On the other hand, among exotic pairs the USD/ZAR has the highest popularity. During some period of time the ZAR was even more valuable than the U.S. dollar itself, but this situation has not lasted far too long. On the international exchange, operations with ZAR form 1.1% of the daily turnover ($60 billion). However the biggest part of transactions is conducted outside of the country. Strong restrictions applied to residents of the country is the main reason for such a situation. Although a high fluctuation of the position makes the currency attractive to the traders who prefer exotic currency pairs.

The economy of South Africa is highly dependable on commodities because of the mining potential in minerals and metals. Since the commodities are mostly traded for the U.S. dollar, supply and demand changes in mentioned market segments are also influence the position of both currencies. The USD/ZAR pair in general is affected by different groups of factors, which make the pair high volatile.

Both countries, whose currencies are used in the AUD/NZD pair, have a strong trade relations between each other and their economies are interconnected. As a result, these currencies have formed a high liquid pair. A major part of its trade volume is processed during the Asian trading session. The pair is strongly influenced by the U.S. economy as well.

The AUD belongs to Commodity Currencies group. Australia is rich of natural resources, including gold, coal, iron, and aluminum. The country also has a well-developed farming sector and the industrialized economy. However, Australia has a strong need for import products and goods as it cannot produce them by its own production capabilities. It means that the trade deficit can have an impact on the position of the Australian dollar, and its trade balance depends on its export and foreign demand for goods and resources.

The factors influencing the NZD are connected with economic events. The interest rates of Reserve Bank of New Zealand (RBNZ) and their comparison to the bank policy of the other currency in the pair is one of the major factors. Another factor is strongly related to the international trade. The connection with the Australian currency can also be a factor for analysts.

The economies of Australia and New Zealand make both currencies closely tied. As a result, the currencies act similar while paired with other currencies, and the AUD/NZD volatility is low due to the same reason. The pairs, incorporating the NZD or AUD with the same currency, are correlated and resembling each other for some degree.

The currencies, forming this pair, belong to countries with stable economies. Even though the pair is not that popular among market players. These currencies are influenced by different events since both countries have no direct economical or political ties. In addition, the AUD position depends on Australian gold operations.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S.

The AUD belongs to Commodity Currencies group. Australia is rich of natural resources, including gold, coal, iron, and aluminum. The country also has a well-developed farming sector and the industrialized economy. However, Australia has a strong need for import products and goods as it cannot produce them by its own production capabilities. It means that the trade deficit can have an impact on the position of the Australian dollar, and its trade balance depends on its export and foreign demand for goods and resources.

Both the euro and Canadian dollar belong to the group of 8 most traded currencies in the global exchange. Because of the CAD, the pair movement is highly connected with the oil price movement and general commodities market events. The U.S. dollar position also has an influence on the movement of the pair.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the financial crisis and Brexit, the position of the currency does not seem so stable as it used to be.

The CAD serves as the fifth most traded reserve currency in the world, and 2% of all global reserves are estimated in the Canadian dollar. A strong sovereign position of the Canadian government and stability of the country systems (political, economical and legal) makes the CAD popular among other banks, despite the strong oil market dependency and close trade ties with the U.S and its economic activity on the international market.

This EUR/CHF pair is one of the most stable currency pairs, while its volatility remains low. It is connected with changes of the U.S. dollar position in the market and can be vulnerable to political and economical events as well as of the news about market’s uncertainty or instability.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly.

The Swiss National Bank has followed a zero inflation policy for a long time. This policy along with the country's political neutrality made the CHF an exceptionally strong and stable currency. The Swiss franc’s “safe haven” status defines that it is appreciated during times of economic and political instability. The European debt crisis in 2008 played a significant role towards CHF - the Swiss franc rose against the euro and other currencies. After September 2011 the Swiss National Bank began an active policy of intervention in the currency markets and defined an interest rate cuts in order to weaken the CHF position to the point of 1.20.

This currency pair belongs to exotic ones. It has a low liquidity and is characterised by relatively small trade volumes. The pair is influenced by changes of Central bank's interest rates, and also by GDP and PMI of the countries as they have strong trading relations. The pair also reacts to commodity market changes.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the financial crisis and Brexit, the position of the currency does not seem so stable as it used to be.

The ratio of public debt of the country to GDP was significantly below the EU average in 2015 - at 75.3%. The Hungarian National Bank currently focuses on price stability with an inflation target of 3%. Hungary has stable trade relations with the EU countries and export high-technology products and goods at the rates higher than average in the European Union.

Due to its characteristics, this pair is the third most popular trade instrument in the global currency exchange, but this tool can also be risky. The pair movement is hard to forecast because of the JPY unstable position. Moreover, both currencies are influenced by two different sets of economic events.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the financial crisis and Brexit, the position of the currency does not seem so stable as it used to be.

The JPY is one of the most heavily traded currencies alongside the U.S. dollar. It is placed first to trade in Asia and fourth - in the world. However, a continual decline in Japanese economy does not make the currency one of the reserve ones. For now, JPY still takes an important place in global financial operations, and the Japanese economy is the second largest in the world after the U.S.

The EUR/MXN pair is a trading instrument mostly prefered by Mexican traders. Both currencies are strongly influenced by the U.S. dollar position even if the American currency is not presented in the pair. The Mexican currency position depends on the country’s trade volumes (especially with the U.S), and also - on global oil prices as Mexico is the largest oil and gas exporter in the region, but its inventories deplete quickly.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S.

During some period of time, the Mexican peso was treated as the 8th most actively traded currency in the world, and the 3rd most traded currency in American continents (after the USD and CAD). In Latin America it was placed first. In fact, some United States establishments in the border area accept the MXN (some border Wal-Mart stores, Circle K gas stations, or La Bodega supermarkets, located on the border). Even some Guatemalan and Belizean border towns use this currency.

This pair is popular among traders. The NZD serves as the eighth most traded currency in the global exchange. Volatility of the pair is defined by economic events in New Zealand and the country’s quarterly reports.

The factors influencing the NZD are connected with economic events. The interest rates of Reserve Bank of New Zealand (RBNZ) and their comparison to the bank policy of the other currency in the pair is one of the major factors. Another factor is strongly related to the international trade. The connection with the Australian currency can also be a factor for analysts

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the financial crisis and Brexit, the position of the currency does not seem so stable as it used to be.

This currency pair is treated as an exotic one, and is not so popular among the traders. However it gained popularity as a trading tool because the RUB has been moving down for more than two years. The pair has an average predictability, and the RUB is commodity-dependant currency. However, the pair has a high volatility rate and can be efficiently use in short-term operations.

The euro is a currency of 19 European countries, and currencies of some of the countries are based on the euro, such as DKK (Danish krone) or CFA. The EUR is placed second by trading volume in the global exchange, and it is the second most reserve currency in the world. This currency is emitted by the European Central Bank which maintains interest rates as a target of its policy and tries not to intervene the foreign exchange markets directly. Such a policy makes the euro take a higher stand than the U.S. dollar because European interest rates are more appealing for investors than in the U.S. However, after the financial crisis and Brexit, the position of the currency does not seem so stable as it used to be.

The Russian currency, ruble, is used on the territory of Russian Federation and within two partially recognized republics of Abkhazia and South Ossetia. Russia is one of the leading oil producers since 2001 and global prices on oil and energy have a strong influence on that currency. The country economy belongs to a high growth one, but it is also vulnerable to changes in the global financial market and crises.

Both currencies in the pair have a high liquidity and belong to the most traded currencies in the global exchange. Australian stable political situation makes the AUD stable, as well as its central bank's high interest rates policy. The GBP is also treated as a stable currency, while the U.K. has one of the strongest economies in the world.

The GBP position is mostly influenced by trading situation with the U.S. and EU, and economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trading instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the position of this pair in the global exchange market.

The GBP has the 4th highest trading volume in the global exchange market. Daily trading volume of this currency is over 13% of the general volume.

The AUD belongs to Commodity Currencies group. Australia is rich of natural resources, including gold, coal, iron, and aluminum. The country also has a well-developed farming sector and the industrialized economy. However, Australia has a strong need of import products and goods as it cannot produce them by its own production capabilities. It means that the trade deficit can have an impact on the position of the Australian dollar, and its trade balance depends on its export and foreign demand for goods and resources.

The popularity of this currency pair is average, and it is mostly attract beginning traders. It has high volatility and is formed from the commodity-dependent CAD and the GBP, which belongs to one of the most economically developed countries in the world. However, the pair can ignore some events due to specific traits of the pound.

The GBP position is mostly influenced by trading situation with the U.S. and EU, and economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trading instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the position of this pair in the global exchange market.

The GBP has the 4th highest trading volume in the global exchange market. Daily trading volume of this currency is over 13% of the general volume.

The CAD serves as the fifth most traded reserve currency in the world, and 2% of all global reserves are estimated in the Canadian dollar. A strong sovereign position of the Canadian government and stability of the country systems (political, economical and legal) makes the CAD popular among other banks. The Canadian economy is strongly influenced by commodity market changes, especially oil prices movement, trading with the boarding U.S. and changes in major companies stocks.

This pair is one of the oldest in the world exchange market. Traits of both currencies make them a “safe asset”, as they have high trading volumes and purchasing power. The GBP increases volatility of the pair and is connected to the gold standard.

The GBP position is mostly influenced by trading situation with the U.S. and EU, and economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trading instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the position of this pair in the global exchange market.

The GBP has the 4th highest trading volume in the global exchange market. Daily trading volume of this currency is over 13% of the general volume.

The Swiss National Bank has followed a zero inflation policy for a long time. This policy along with the country's political neutrality made the CHF an exceptionally strong and stable currency. The Swiss franc’s “safe haven” status defines that it is appreciated during times of economic and political instability. The European debt crisis in 2008 played a significant role towards CHF - the Swiss franc rose against the euro and other currencies. After September 2011 the Swiss National Bank began an active policy of intervention in the currency markets and defined an interest rate cuts in order to weaken the CHF position to the point of 1.20.

This currency pair incorporates both the U.K. currency (the 4th by trading volumes in the world) and a specific indicator of the Chinese currency, located offshore. Even if the CHY (which is on accounts inside of the country) and CNH have an exchange rate of 1:1, they both have different rates for other currencies to exchange.

The GBP position is mostly influenced by trading situation with the U.S. and EU, and economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trading instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the position of this pair in the global exchange market.

The GBP has the 4th highest trading volume in the global exchange market. Daily trading volume of this currency is over 13% of the general volume.

It is important to note that foreign investors cannot operate the Chinese currency directly and CHN is used for offshore operations only. The People’s Bank of China (PBOC), which fully controls the position of CHY and CHN, is mostly affected by trading activity, but in consideration of the PBOC policy. The currencies have a cross rate and can be exchanged under certain conditions, but for the most operations, it is not preferable to exchange a foreign currency inside of the China (with the CHY).

Both currencies of this pair are characterized on the market as highly liquid. They form one of the most volatile currency pairs, since both currencies are influenced by different economic events. Japan and Great Britain do not have direct trading or political connections, and the pair's behavior can be described as “aggressive”, yet some traders prefer to use it.

The GBP position is mostly influenced by trading situation with the U.S. and EU, and economy indicators. It is important to pay attention to recent political events as they can weight on one of currencies. Public statements of European and U.K. officials are another reason for traders to use this trading instrument. Changes in the monetary policy of the Bank of England and/or the European Central Bank are also influence the position of this pair in the global exchange market.

The GBP has the 4th highest trading volume in the global exchange market. Daily trading volume of this currency is over 13% of the general volume.

The JPY is one of the most heavily traded currencies alongside the U.S. dollar. It is placed first to trade in Asia and fourth - in the world. However, a continual decline in Japanese economy does not make the currency one of the reserve ones. For now, JPY still takes an important place in global financial operations, and the Japanese economy is the second largest in the world after the U.S.

Due to its operation volume, the pair is placed fourth among other pairs in the global exchange. The USD is one of the dominating world currencies. The CHF represents the country with one of the most stable economies in the world, and this currency often serves as a “safe haven”.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions all over the world. It is the most widely used currency in the global transactions which has the biggest trading volume in the global exchange.

The Swiss National Bank has long followed a zero inflation policy, and this policy is combined with the country's political neutrality made the CHF to be an exceptionally strong and stable currency. The CHF “safe haven” status defines that it is appreciated during times of economic and political instability. The European debt crisis in 2008 was one of the most significant occasions of the currency use be this mean. After September 2011 the the Swiss National Bank began an active policy of intervention in the currency markets and defined an interest rate cuts in order to weaken the CHF position against the EUR and trying to restrict its position to the point of 1.20.

A position of the pair mainly depends on the USD movement, while the well-developed economy of Denmark gives the pair an additional stability. The pair has a high trading volumes even though they are not as high as other USD-cross pairs have. The macroeconomic indicators of the U.S. have a strong influence on this trading instrument.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Adoption of the euro is favoured by major political parties, however, the 2000 referendum on joining the Eurozone was defeated with 53.2% voting to maintain the krone and 46.8% voting to join the Eurozone.

The official currency for the Kingdom of Denmark is the Danish Krone (DKK). The krona is currently pegged to the Euro. The krona is subdivided into 100 ore. The symbol for the krona is kr. Another name for the krona is the Danish Crown.

This pair consists of the world's major reserve currency and the currency of Hungary, a country with the developing economy, especially in a heavy industry segment. This currency pair is not popular among traders and is strongly related to the Eurozone economy. Another source of influence is global oil market events.

The ratio of public debt of the country to GDP was significantly below the EU average in 2015 - at 75.3%. The Hungarian National Bank currently focuses on price stability with an inflation target of 3%. Hungary has stable trade relations with the EU countries and export high-technology products and goods at the rates higher than average in the European Union.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

The pair trading volumes are lower than average market rates. Since the USD serves as a major reserve currency, the PLN belongs to the country which has the developing economy.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

The current Polish zloty is the fourth currency since the middle ages. The most recent revaluation had the third (old) zloty currency replaced by the new zloty at a rate of 10,000 to 1. This revaluation was done in 1995 to adjust for the hyperinflation that took place during the first half of the decade. After this change, the currency remained on a stable yet low position among other European and global currencies in the global trade.

This pair is the most popular to trade the Norwegian Krone. The NOK position is connected with the Eurozone and U.K. economic events as the country owns the strong economy and oil/gas exports. However, it is hard to compare the NOK with the highly tradable USD.

Norway’s oil and gas sector represent about 25% of the overall economy and more than 50% of its total exports. They have strong trade partners mainly with the core Eurozone countries in the north. The central bank, Norges Bank, have a disciplined monetary policy, and the overall economy has a strong current account balance and strong public finances. Norges Bank interest rate decision affects currency valuation, a higher interest rate would be positive for the NOK. The inflation rate target is 2.5% year-on-year, hence a deviation away may be an indication that the Norges bank will act and change interest rates. This forecast is reflected in currency pricing. Other major local fundamental indicators are GDP and debt figures.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

This pair has a stable trend. It is easy to forecast its movement because of its low volatility. The combination of the world's major reserve currency and the currency of Sweden, the country with a stable developed economy, makes this instrument easy for maintenance. However, the pair still has an average popularity among traders due to the low trading volumes comparing with other trading tools.

Sweden does not want to join the Eurozone and this fact has to be in consideration if a trader is going to trade currency pairs with the SEK. For now, the country has not met requirements of currency exchange protocol ERM II. The most weighting factor of an influence on the currency is the monetary policy of Sweden's central bank (Riksbank) because the SEK is a freely floating currency. Major changes in economic policy of the European Union and U.K. can also influence the position of the SEK. The SEK is influenced by global economic events, country export and trade balance. Another vital factor is oil and gas prices changes in the global market.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

This pair belongs to exotic currency pairs. Both currencies give the pair an opportunity to have stable movement. The pair volatility is slightly above the average and its position is easy to forecast in a long term. The economy of Singapore is also stable and the country develops in an oil drilling and oil production segments. The USD is a major reserve and the most traded currency.

The value of the Singapore dollar was originally pegged to the British pound (GBP) at a rate of 60:7. In the early 1970s, this peg was moved to the U.S. dollar briefly before being pegged to a hidden basket of foreign currencies between 1973 and 1985. Since 1985, Singapore has allowed its dollar to float within an undisclosed range, which is monitored by the Monetary Authority of Singapore. The development of the country allows it to have more important position in the global economy, international trade and economic development both in Asia and outside of it.

The American dollar serves as a major reserve currency. Many financial institutions all over the world created their reserve funds in the USD because it is stable due to the economic domination of the USA. The pair is often used as a major payment method for main commodity operations (for example, gold and oil) as well as for debts denomination by many banking institutions. It is the most widely used currency in the global transaction which has the biggest trading volume in the global exchange.

Both currencies of this pair are affected by commodity prices because the economy of both countries is commodity-related. Australia have its export to Northeast and West Asia, Canada exports goods mostly to the U.S. Both currencies are affected by different sets of factors related to commodity markets. The pair does not have big popularity among traders.

The AUD is a commodity currency, since Australia has a wide range of natural resources, like gold, coal, iron, and aluminum, but also has well developed industrial and farming sectors. To maintain a certain level of economic development, the country needs a variety of goods and products which can be only imported and can not be produced inside of the country.

The Canadian currency is the fifth most traded reserve currency in the world and it forms 2% of all global financial reserves.

The currencies which form the pair both have unique qualities since the CHF is a currency of the country with the most stable economy, and the AUD belongs to the commodity currencies group and depends on natural resources trading. The position of the USD influences both currencies since it is placed second as a reserve currency and has specific gold operations.

Commodity-dependent nature of the AUD is mostly based on the Australian economy since the country exports many commodities and is vulnerable to trade deficit and market demand. As the Australian economy depends on the goods import, it also influences the currency.

The CHF is a currency that even now stays with gold guarantee and is emitted by the country with one of the most stable economies in the world. It has a high trading volume against the euro but participates in operations against the Japanese yen, British pound, and U.S. dollar.

The AUD and the HKD both depend on the U.S. dollar position in the exchange market. Moreover, they are influenced by the most prominent U.S. economic events. The pair chart stays close to other currency pairs which include the USD. However, this specific pair is not popular among traders because of comparatively low liquidity.

The most widely known quality of the AUD is its commodity-dependent status, since the economy of Australia is strongly connected to the export of natural resources, market demand rates and trade deficit. The country has developed industrial, mining and agricultural sectors, the most of their products are available for export.

The HKD is known as the eighth most traded currency in the global exchange, but its trading volumes are low, it is not popular among traders. Meanwhile, this currency is placed third among the most traded currencies in Asia.

The pair is formed from a commodity dependent currency and a currency that could serve as a “safe haven”. As a result, the pair works like a stable trading instrument yet vulnerable to commodity market events. The activity on the U.S. equity market also influences the pair, making it have a comparatively high volatility, Besides, the AUD/JPY pair serves as an instrument for “aggressive trading”.

The commodity dependent AUD is highly connected with Australian export, especially with natural resources trading. Strong agricultural and industrial sectors in Australia give this country an ability to export a large variety of goods but stay dependent on import.

The JPY competes with the U.S. dollar and other major currencies in a matter of trading volumes. It is placed first in Asian trading and fourth in the global exchange. The economy Japan is second in the world.

The combination of high-yielding and low-yielding currencies makes this pair unpopular among traders, as this trading tool has some limitations on its market use. The pair incorporates a “safe-haven” status because of the stable CHF and commodity-related CAD, which highly depends on the oil market events and a price movement.

The Canadian currency is placed fifth among the most traded currencies in the world. Reserves in CAD are estimated as 2% of global reserves, and banks continue using this currency due to the country’s stability in political and economic segments, and an independent position of the government of Canada.

The CHF is an actively traded currency (mostly against the U.S. dollar, yen, and the pound), which is used as an investment in high yielding currencies since its stability is maintained by low-interest rates of the country’s central bank.

This pair is more popular among traders than the USD/JPY pair, but it is still vulnerable to the market position and traders’ sentiments. The CAD part of the pair is strongly related to the commodity market and oil trading in particular, and the JPY part adds a volatility to this pair, just like in the USD/JPY where it acts the same way.

The CAD is the fifth most traded currency in the world. It is a reserve currency forming 2% of the global financial reserve. The Canadian dollar has some popularity among banks because of stability of Canada, its governing institutions and the economy.

The JPY is an actively traded currency which is placed first by trading volumes in Asia and fourth – in the global exchange. Its reserve status is questionable due to the current state of Japanese economy, but the country still takes part in the global finance.

Both currencies of the pair serve as “safe haven” currencies and define general pair behavior during the market trade. Both emitting banks have low interest rates, but the pair has a low trading volume since both currencies have a comparatively low liquidity.

The Japanese currency is placed fourth in the world exchange by its trading volume and first - in Asian region. The JPY’s volume of trade competes with the U.S. dollar, but the current Japan economy situation does not allow the currency to be used as a reserve one.

The CHF has an active trade against the euro, pound, and yen. It is also actively traded against the USD on forward markets. Low interest rates of the emoting bank make the currency a tool for investment in high yielding currencies and assets.

The global exchange players treat this pair as not very popular. It serves as a cross-pair to the USD, and the American currency influences the position of both CHF and NOK. However, the pair has a high liquidity in a combination with the “safe haven” status of the CHF.

The operations with the CHF are most actively conducted both on the spot market and on the forward market. The currency is actively traded against the euro, pound, pen, and the U.S. dollar. Market players use the currency to invest in high yielding assets.

The NOK position is affected by the Norges Bank interest rate decision, and higher interest rate serves as a positive influence factor, while a change of inflation target number may indicate the interest rate change. The other factors influencing the currency position are information from the U.K. and foreign debts.

The currency pair is not popular among market players. Both countries emitting the currencies are not members of Eurozone and the processes of integrations for both countries are conducted at different rates with many specifics. Both currencies are often traded against the EUR and the weakening of the euro can influence the position of Denmark currency in the pair because of the country’s export policy.

The SEK position is influenced by political decision of Sweden not to join the Eurozone and the current state, which is based on the currency’s inability to meet requirements of currency exchange protocol ERM II. Besides, the SEK position is influenced by the monetary policy of Sweden's central bank (Riksbank). Also, it is defined as a freely floating currency. Major changes in the economic policy of the European Union and U.K. can also influence the position of the SEK.

The pair is formed by the fundamental European currency and by the currency that is strongly influenced by EUR position. However, the correlation is negative since the strengthening of EUR makes the DDK weaker.

The EUR serves as a basic currency for 19 European countries which form the Eurozone, while the DKK (Danish krone) is based on the EUR, but not substituted by the European currency. The euro is placed second against the U.S. dollar by trading volumes in the global exchange. The currency is emitted by the European Central Bank institution and depends on interest rates of the bank. The ECB policy does not permit finance operators to influence foreign markets directly, while lower interest rates are more appealing to investors.

The Denmark export policy and the country’s position to the EUR use are main influence factors of the currency position.

The pair incorporates a second by popularity and trading volumes currency of the Eurozone and the currency of Israel, which is one of the most stable currencies in the market. The position of both parts of the pair is affected by a different set of factors, like the overall economic growth rates, political events, and countries exports.

The official currency of the European Union, which is also used in 19 countries of the Eurozone, is placed second by trading volume in the global exchange. The currency is emitted by the European Central Bank institution and depends on its interest rates. After the financial debt crisis and the Brexit event its position stopped being stable, however it still has an influence on a large number of countries whose currencies are based on the EUR (DKK or CFA). The currency is also used as a second reserve currency in the world.

This pair has a comparatively low trading volume, but its constituting currencies make it less risky trading instrument. Such a quality defines the pair as more popular than others with the same trading volume.

The position of the NOK is influenced by both the European currency and the U.S. dollar. The USD affects the currency because of the Norway energy export outside of the Eurozone, which influences the global energy market while the U.S. also takes part in it.

The EUR is placed second by trading volumes in the global exchange and also serves as the second most widely used reserve currency along with the U.S. The debt crisis and the Brexit had a negative impact on its position but the EUR retained it in both trading volumes and as a reserve currency.

The pair belongs to the group of exotic currency pairs, and its popularity among traders is low. The constituting currencies have a big difference in liquidity and trading volumes since the EUR is placed second by trading volumes, and the PLN is just a part of TOP-30. The predictability of the pair movement during a trade is estimated as average.

The PLN in its modern state is formed after the revaluation of 1995, which was caused by the hyperinflation of the first half of decade. For now, Poland is a part of the European Union, but it does not participate in the Eurozone. Its economy is still defined as not ready for the Euro implementation.

The EUR is used by 19 European countries as a main currency and as a basis for some other countries. The EUR is placed second by trading volumes in the global exchange and also serves as the second most widely used reserve currency along with the U.S.

This pair demonstrates a very high volatility in the market since it incorporates the fourth most traded currency in the world and the currency, which participates in TOP-10 of the most traded. The pair position is impacted by the USD position movement, major economic events and indicators, such as the GPD or bank interest rates of both countries. The pair is not recommended for beginning traders since it is defined as a hard trading instrument with low predictability.

The GBP is placed fourth comparing with other currencies by trading volume in the global exchange. The daily trade of this currency is 13% of the general amount, and the currency’s position is strongly related to the USD and EUR movement.

The NZD position is influenced by general economic events, interest rates of Reserve Bank of New Zealand (RBNZ) changes, and the international trade situation and trends.

This currency pair has lower liquidity than other trading instruments which are based on the EUR or USD. Both currencies in this pair are affected by commodity market events and price changes in that market. In addition, both currencies are vulnerable to the USD movement.

The main factors which have an influence on the NZD are interest rates of the Reserve Bank of New Zealand (RBNZ), their changes and comparison with the other bank's policies, the international trade events, and the position of the AUD.

The CAD is placed fifth among the most traded reserve currencies in the world, and 2% of all global reserves are formed with the Canadian currency. The policy of the Canadian government, stability of the economic system in the country and political stability make the CAD popular as a reserve currency among some banks.

The NZD and CHF position in the market makes this pair popular among traders. Both currencies are TOP-rated by trading volume, and their emitting countries have stable economies. The international trade relations are important for both countries as well. To use the NZD/CHF pair, a trader has to keep in mind interest rates of the both banks and their diversity as a main factor of influence on the pair movement.

The most of economic events and indicators have an influence on the NZD position, along with the policy of the Reserve Bank of New Zealand (RBNZ) (meant – interest rates). International trade tendencies serve as another factor of influence.

Market players in the foreign exchange spot and forward markets actively use the CHF. The currency is traded against the EUR and USD as well as against the yen and pound. Low interest rates of the emitting bank is also the factor to take into account.

This pair is treated as highly-predictable among the market players but its position is influenced by global economic events. The oil market prices and rates have a great influence on the NZD part of the pair.

The influence on the NZD is connected with global economic events. Interest rates of the Reserve Bank of New Zealand (RBNZ) have their effect on the currency position, and the international trade serves as another factor of influence. Analysts also point a correlation between the NZD and AUD position.

The JPY has a heavy trade and competes with the U.S. dollar. In Asian trading the yen is placed first. In the global exchange the currency is placed fourth. The economic decline in modern Japan restricts the currency from being used as a reserve one, but it still plays a very important role in the global exchange.

The pair has comparatively low trading volumes and it does not exceed 10% of the global amount. As a result, the pair is not popular among traders comparing with other USD-consistent trading instruments.

The position of the NZD is influenced by events of oil and metal market segments, and the currency is generally treated as a commodity-dependent one. The USD is also connected to commodity prices but it is not strongly related to them. The American currency serves as a major world’s reserve currency, and this status makes it a highly stable asset. It is also used by many financial institutions of Europe and Asia as a major payment method for commodity operations and for the debts denomination.

The factors which have an influence on the NZD is connected with interest rates of the Reserve Bank of New Zealand (RBNZ) and related to the international trade, while the currency position is connected with the AUD movement.

This pair belongs to the exotic group of currency pairs. It consists of the world’s major reserve currency, the USD, which is also considered comparatively stable. The currency of Israel has less popularity but is also treated as a stable one. The low popularity of the pair among the market players mostly depends on the pair’s low trading volumes.

The ILS is the official currency of Israel. It is also used as a legal payment method in the Palestinian territories of the West Bank and the Gaza Strip. The currency gained more than 30% in value against the U.S. dollar since 2003.

The USD is a major reserve currency of the world and the most traded currency in the global exchange. Moreover, it is the most widely used currency in the global transaction by trading volumes. It is used as a major payment method for commodity operations and for the debts denomination.