AVAILABLE CURRENCY PAIRS
As you may have noticed, the symbols (abbreviations) for all currencies have three letters. The first two letters denote the name of the country and third letter stands for the name of that country’s currency.
As an example, let’s look at the USD. The US stands for United States and the D stands Dollar.
The "majors" and the "commodity pairs" are the most liquid and most widely traded currency pairs in the forex market. These pairs and their combinations (EUR/JPY, GBP/JPY, and EUR/GBP) make up the vast majority of all trading in the forex market. Because these pairs typically have the largest volume of buyers and sellers, they also typically will have the tightest spreads.
- Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF
- Commodity Pairs: AUD/USD, USD/CAD, NZD/USD
There are however other currency pairs that allow you to take advantage of macroeconomic events in specific international markets, such as the USD/MXN (US Dollar/Mexican Peso).
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