#4 Forex Currencies

Currency nickname

Sometime in the news reports issued by forex agencies news,currencies also recognized with numerous fictitious name or nickname. Do not surprised when you read news and you will found greenback, cable, kiwi, aussie, and so forth as a currency name. That is just as fictitious name or nickname only. Here is part of the nickname for some currencies:

• USD = greenback  

• EUR = euro

• GBP = cable           

• CHF = franc

• AUD = aussie 

• NZD = kiwi

Major vs. Minor Forex Currencies

There are 7 main forex currencies(major currency) that often been trade by trader that is USD, GBP, EUR, CHF, JPY, AUD & CAD while NZD & SGD are minor currencies which did not become merchants or favorite by many traders.

World currencies rate

The characteristics and the nature of forex currencies

Each currency has their own characteristic and it is important to know for trader. The characteristics and the nature of each currency is often basis on the trade policies of one country or state.

GBP: Intercommunion trade or business friendly. Any news regarding the development of the economy such as the positive Expenditure Index value wills strong GBP.

CHF:  Safe and stable currency

EUR: Anti -USD, European Central Bank is very hesitant firmness about USD currency because European economy depends almost entirely to the exports. 

JPY: In the process of reducing inflation; often deliberately weakened for strengthen industrial exports.

AUD: Sensitive to the price of gold.

NZD: Currency movement mostly follows AUD because New Zealand economy depends to the Australian economy.

CAD: Sensitive to the world price of crude oil