Foreign exchange has become a profit-generating bazaar that extends to nations all over the world. If you are yet to be part of this undertaking, you should be on your toes as global forex is rapidly rising to be among the primary core of the world’s financial lifeline.
The foreign exchange market is open 24 hours accommodating traders from across nations. It has market set ups for traders in the Asian, European and American regions. The market officially closes each Friday, 4 in the afternoon based on the Eastern Daylight Time or EDT.
The different trading sessions are dominated by particular currency pairs. These pairs are the most actively traded during these times. The heart of global forex in the United States is New York. It has the second biggest venue for such a fragile forex market. For the London trading session, the favored currency pair is the Euro and US Dollar. They are traded at the average volume of thirty nine percent of the total currencies exchanged during the daily session. Second is the GBP and US Dollar traded at an average volume of twenty three percent. The US Dollar and the Japanese Yen are exchanged at seventeen percent trade volume, and the US Dollar and Canadian Dollar at a mere five percent.
Posted in Global Forex.
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