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Forex Is The Number One Exchange In The World
By Ben Needles
The Foreign Exchange market (Forex) is truly the largest exchange in the world. The amount of dollars traded on the Forex market on a daily basis is in the trillions. Most of this trading takes place between between large banks, central banks, speculators, multinational corporations, governments, and other financial markets and institutions. However, individual traders are starting to get in the mix, using internet discount brokers such as Etrade to participate in the exchange market.
There is no central exchange or meeting place for the Forex. All trading is done over computer networks between traders in different parts of the world. Also, unlike the stock market, the foreign exchange market is open 24 hours per day, because it is a global market. A trader in Hong Kong may be exchanging with a trader in Australia while an American trader is sleeping.
There are several different markets within the Forex exchange system. First, there is the spot market. The spot market deals with trades that are based on the current values of currencies. One person trades a certain amount of with another trader in exchange for an equivalent amount of a different foreign currency. Spot trades take two days for settlement.
The other two types of foreign exchange markets are the forward and futures markets. In the forward market, the buyer and seller agree on an exchange rate and a transaction date is set for a specific time in the future, at which point the trade is executed regardless of what the rates are at that time. On the futures market, futures contracts are bought and sold based upon a standard contract size and maturity date. Futures trades take place on public commodities markets.
A quote is listed differently from a stock quote. Stocks are quoted in terms of price per share. exchange prices are listed as either a direct quote or an indirect quote. A direct quote uses the domestic as the base and the foreign as the quote. An indirect quote works the exact opposite way.
So, if you were to view a quote in an American newspaper that said USD/JPY = 75, that would be a direct quote and would mean that $1 of U.S. is equal
Lack of Greek Deal Sends EUR Tumbling
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<a href="http://www.forexyard.com/en/market-analysis/lack_of_greek_deal_sends_eur_tumbling-2012-02-07" style="font-size:1.2em">Lack of Greek Deal Sends EUR Tumbling</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt.</div>
<a href="http://www.bestsyndication.com/?q=20120205_forex_signals_usd_jpy_eur.htm">Forex Trading and Currency Exchange Rates ? USD/JPY rises as EUR/USD drops</a> - <span style="color:#888888">Best Syndication</span><br>
<a href="http://www.forexpros.com/news/forex-news/forex---euro-broadly-lower-as-greece-in-focus-229967">Forex - Euro broadly lower as Greece in focus</a> - <span style="color:#888888">Forex Pros</span><br>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)
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<a href="http://www.ibtimes.com/articles/294134/20120207/canadian-dollar-cad-technical-major-currencies-2012-02-07.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">3 hours ago </span>
<div style="width:80%;">The pair has been fluctuating with narrow ranges recently, within the descending short term channel shown on image, while MACD indicator continues to provide a bullish divergence over the four-hour timeframe, and momentum indicators are within oversold ...</div>
</div>
British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/british-pound-eur-safe-haven-06021355.html" style="font-size:1.2em">British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">20 hours ago </span>
<div style="width:80%;">The Pound continued its advance against the Euro this morning, but the UK currency declined for a second day versus the US Dollar, as market speculation escalates over the prospect of further quantitative easing from the Bank of England this week.</div>
</div>
Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-cad-06021354.html" style="font-size:1.2em">Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">20 hours ago </span>
<div style="width:80%;">The US dollar to Canadian dollar exchange rate (USD/CAD) is 0.54% higher at 0.9987. The euro Canadian dollar exchange rate (EUR/CAD) is 0.39% lower at 1.3018, the pound Canadian dollar exchange rate (GBP/CAD) is 0.22% higher at 1.5746.</div>
<a href="http://www.forexpros.com/analysis/usd-cad:-canadian-dollar-down-on-greek-concerns,-weaker-oil-prices-113296">USD/CAD: Canadian Dollar Down on Greek Concerns, Weaker Oil Prices</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.dailyforex.com/forex-articles/2012/02/USDCAD-Daily-Outlook-Feb-7-2012/10802">USD/CAD Daily Outlook Feb. 7, 2012</a> - <span style="color:#888888">DailyForex.com</span><br>
</div>
Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-exchange-rate-non-farm-03021348.html" style="font-size:1.2em">Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">Canadian dollar exchange rate: Global markets have been caught by surprise following the release of strong US Non-Farm Payroll data.</div>
</div>
2012 Forecasts: Canadian Dollar To Be Support By QE3 In 2H12
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.actionforex.com/action-insight/special-reports/2012-forecasts:--canadian-dollar-to-be-support-by-qe3-in-2h12-20120203158825/" style="font-size:1.2em">2012 Forecasts: Canadian Dollar To Be Support By QE3 In 2H12</a>
<br> <span style="color:#888888;">Action Forex</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">Canada will by no means escape from the recent global economic turmoil. As an economy heavily reliant on exports, the sovereign debt crisis in the Eurozone and the stringent fiscal consolidation to be adopted by the US are expected to hurt Canadian ...</div>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-03)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/292363/20120203/canadian-dollar-cad-technical-major-currencies-2012-02-03.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-03)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">The pair has been trading within a narrow range above the 200-days SMA; the pair is having difficulties breaching this support area around the average as see on chart, while price is clearly oversold as seen on Stochastic.</div>
</div>
Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-exchange-rate-02021342.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The CAD was not a participant in the overnight push up in risk currencies, with USD/CAD remaining well-entrenched in familiar ranges.</div>
<a href="http://www.forexpros.com/news/forex-news/forex---usd-cad-up-on-jobs-data-229907">Forex - USD/CAD up on jobs data</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=158866:mixed-reactions-in-the-us-dollar-to-the-non-farm-payroll&catid=191:daily-forex-technicals">Mixed Reactions in the US Dollar to the Non-Farm Payroll</a> - <span style="color:#888888">Action Forex</span><br>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/291619/20120202/canadian-dollar-cad-technical-major-currencies-2012-02-02.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The pivotal support around 0.9965 is still providing the pair with a good support as seen on the provided four-hour chart. The struggle around the middle line of the descending channel that dominated the movements from 1.0285 zones continues fixing RSI ...</div>
</div>
Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-vs-australian-dollar-01021335.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 1, 2012 </span>
<div style="width:80%;">The pound Canadian dollar exchange rate is 0.02% higher at 1.5810, the euro Canadian dollar exchange rate is 0.22% higher at 1.3148, the US dollar to Canadian dollar exchange rate is 0.5% lower with 1 USD = 0.9971 CAD.</div>
<a href="http://www.thestreet.com/story/11394595/1/usd-cad-susceptible-to-weakness.html">USD-CAD: Susceptible to Weakness</a> - <span style="color:#888888">TheStreet.com</span><br>
</div>
to 75 Japanese yen. If that same quote appeared in that same American newspaper and was listed as JPY/USD = 0.013, that would be an example of an indirect quote.
As with stock prices, exchange prices have a bid and ask spread. The current bid is the amount of foreign that someone is willing to spend in order to buy $1 U.S. base currency. The ask is the amount of foreign that someone is demanding in order to be willing to sell $1 U.S. base currency.
The Forex markets are generally considered to be less volatile than then stock market because within the course of a trading day, it is highly unlikely for the value of a single to move all that much. With equities, it is not uncommon for a trader to buy a stock, and then a negative press release causes the stock to lose considerable value within a day or even a couple of hours. Sometimes, however, the Forex can be volatile. If there is a significant economic or political development with a certain country, the of that country can lose value quickly.
There is a higher degree of liquidity on the exchange then there is on the stock exchange because the exchange is open 24 hours per day and because the very nature of exchange is to bet on when certain currencies will go up or down; so, it is easy to sell your position in a certain even when the value of that money is going down. A plummeting stock is more difficult to unload, but not impossible.
If you want to begin tranding, try to set aside some money and open an account with an online broker. Start slowly, then as you get the hang of it, work your way up to larger trades and higher volume. However, do not gamble your nest egg on trading because inexperienced traders can lose everything they have rather quickly in spite of the relative safety of the Forex market.
About the Author (text)Jim Pretin is the owner of www.forms4free.com, a service that helps programmers make an HTML form
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Lack of Greek Deal Sends EUR Tumbling
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexyard.com/en/market-analysis/lack_of_greek_deal_sends_eur_tumbling-2012-02-07" style="font-size:1.2em">Lack of Greek Deal Sends EUR Tumbling</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt.</div>
<a href="http://www.bestsyndication.com/?q=20120205_forex_signals_usd_jpy_eur.htm">Forex Trading and Currency Exchange Rates ? USD/JPY rises as EUR/USD drops</a> - <span style="color:#888888">Best Syndication</span><br>
<a href="http://www.forexpros.com/news/forex-news/forex---euro-broadly-lower-as-greece-in-focus-229967">Forex - Euro broadly lower as Greece in focus</a> - <span style="color:#888888">Forex Pros</span><br>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/294134/20120207/canadian-dollar-cad-technical-major-currencies-2012-02-07.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">3 hours ago </span>
<div style="width:80%;">The pair has been fluctuating with narrow ranges recently, within the descending short term channel shown on image, while MACD indicator continues to provide a bullish divergence over the four-hour timeframe, and momentum indicators are within oversold ...</div>
</div>
British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/british-pound-eur-safe-haven-06021355.html" style="font-size:1.2em">British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">20 hours ago </span>
<div style="width:80%;">The Pound continued its advance against the Euro this morning, but the UK currency declined for a second day versus the US Dollar, as market speculation escalates over the prospect of further quantitative easing from the Bank of England this week.</div>
</div>
Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-cad-06021354.html" style="font-size:1.2em">Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">20 hours ago </span>
<div style="width:80%;">The US dollar to Canadian dollar exchange rate (USD/CAD) is 0.54% higher at 0.9987. The euro Canadian dollar exchange rate (EUR/CAD) is 0.39% lower at 1.3018, the pound Canadian dollar exchange rate (GBP/CAD) is 0.22% higher at 1.5746.</div>
<a href="http://www.forexpros.com/analysis/usd-cad:-canadian-dollar-down-on-greek-concerns,-weaker-oil-prices-113296">USD/CAD: Canadian Dollar Down on Greek Concerns, Weaker Oil Prices</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.dailyforex.com/forex-articles/2012/02/USDCAD-Daily-Outlook-Feb-7-2012/10802">USD/CAD Daily Outlook Feb. 7, 2012</a> - <span style="color:#888888">DailyForex.com</span><br>
</div>
Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-exchange-rate-non-farm-03021348.html" style="font-size:1.2em">Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">Canadian dollar exchange rate: Global markets have been caught by surprise following the release of strong US Non-Farm Payroll data.</div>
</div>
2012 Forecasts: Canadian Dollar To Be Support By QE3 In 2H12
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.actionforex.com/action-insight/special-reports/2012-forecasts:--canadian-dollar-to-be-support-by-qe3-in-2h12-20120203158825/" style="font-size:1.2em">2012 Forecasts: Canadian Dollar To Be Support By QE3 In 2H12</a>
<br> <span style="color:#888888;">Action Forex</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">Canada will by no means escape from the recent global economic turmoil. As an economy heavily reliant on exports, the sovereign debt crisis in the Eurozone and the stringent fiscal consolidation to be adopted by the US are expected to hurt Canadian ...</div>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-03)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/292363/20120203/canadian-dollar-cad-technical-major-currencies-2012-02-03.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-03)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">The pair has been trading within a narrow range above the 200-days SMA; the pair is having difficulties breaching this support area around the average as see on chart, while price is clearly oversold as seen on Stochastic.</div>
</div>
Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-exchange-rate-02021342.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The CAD was not a participant in the overnight push up in risk currencies, with USD/CAD remaining well-entrenched in familiar ranges.</div>
<a href="http://www.forexpros.com/news/forex-news/forex---usd-cad-up-on-jobs-data-229907">Forex - USD/CAD up on jobs data</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=158866:mixed-reactions-in-the-us-dollar-to-the-non-farm-payroll&catid=191:daily-forex-technicals">Mixed Reactions in the US Dollar to the Non-Farm Payroll</a> - <span style="color:#888888">Action Forex</span><br>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/291619/20120202/canadian-dollar-cad-technical-major-currencies-2012-02-02.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The pivotal support around 0.9965 is still providing the pair with a good support as seen on the provided four-hour chart. The struggle around the middle line of the descending channel that dominated the movements from 1.0285 zones continues fixing RSI ...</div>
</div>
Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-vs-australian-dollar-01021335.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 1, 2012 </span>
<div style="width:80%;">The pound Canadian dollar exchange rate is 0.02% higher at 1.5810, the euro Canadian dollar exchange rate is 0.22% higher at 1.3148, the US dollar to Canadian dollar exchange rate is 0.5% lower with 1 USD = 0.9971 CAD.</div>
<a href="http://www.thestreet.com/story/11394595/1/usd-cad-susceptible-to-weakness.html">USD-CAD: Susceptible to Weakness</a> - <span style="color:#888888">TheStreet.com</span><br>
</div>
the international exchange market, the market for conversion exchange operations of specified amounts of one country’s currency into the ...
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