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The main markets involved in the FOREX are New Zealand, Sydney, Tokyo, China, Frankfurt, London, Zurich, and New York. The FOREX market is the largest in the world, where more than $3.2 trillion is being transacted every day (traditional daily turnover was reported to be over US $3.2 trillion in April 2007 by the Bank for International Settlements. Source: Triennial Central Bank Survey, BIS, December 2007), which is many times larger than the combined volume of all U.S. equities and futures markets, and thus the FOREX is also the market that possesses the greatest liquidity. Late in 2008, with all the uncertainty in the equities markets, the FOREX daily turnover surpassed US $6.5 trillion in a day. This market will continue to attract more and more investors.
Currency trading used to be an exclusive activity reserved to government central banks and commercial and investment banks. In recent years, the market has opened up and become available to smaller investors and speculators, thanks to computers and the Internet.
There is a broad electronic network that allows central banks from all over the world to share their quotes and actual currency rates. This is known as the Interbank. In this way, central banks are able to exchange and convert their currencies one into another in real time. The currencies that are traded most commonly are the U.S. dollar, the Japanese yen, the euro, the British pound, the Swiss franc, the Canadian dollar, and the Australian dollar. The Interbank's activity being continuous, and thanks to decentralization from any physical location or exchange, access to real quotes and the speed at which transactions can be performed are greatly increased.
When you are transacting on the FOREX market, you are simultaneously buying one currency and selling another. Currencies are always traded in pairs, for example, pound sterling/U.S. dollar (GBP/USD) or U.S. dollar/Canadian dollar (USD/CAD).
You would be executing a trade when there is an expectation that the currency you are buying increases in respect to the one you are selling. If the value of the currency you
have bought effectively increases, you then would sell the position and take a profit. Currency pairs are composed of a base currency, which is the first on the quote, and a counter currency (also called the quote or payment currency), which appears as second on the quote. When the U.S. dollar is the base currency, quotes are given in $1 USD per counter currency, for example USD/CAD or USD/JPY.
The role of the FOREX in the world economy is very important because there is always an increasing need of currency exchange owing to the development of technology, communications, and general international commerce. Countries need the FOREX market to be able to sell their products to other countries and receive payment in their own currency or pay for their imported goods to the foreign producer in its own currency.
In addition to commercial turnover, though, plenty of money is used for speculation, and thus the great liquidity of the FOREX allows traders to profit at any moment, provided they are using the right techniques and strategies.

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Generi Economia Diritto e Lavoro » Management » Competizione economica » Studi generali » Economia » Economia, altri titoli » Economia del lavoro, occupazione e disoccupazione » Finanze personali e Investimenti

Editore Wikley Trader Publishing

Formato Ebook con Adobe DRM

Pubblicato 20/06/2021

Lingua Inglese

EAN-13 1230004860204

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