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Web trading has opened an access to the vast number of instruments which are available among most of the Forex brokers. Despite the very large diversity of trading instruments, still, there are the ones which are most preferred by the traders. Among such pairs may be regarded EURUSD, EURGBP, GBPUSD and, finally, AUDUSD. This article will discuss each of these pairs, to find out the main characteristics, which are probably the main reason traders prefer them.
The EUR/USD is the most generally traded currency pair in the world. In the pair of Euros to Dollars the first currency (EUR) in the pair is considered to be the 'base' currency, and the second one as the 'quote' currency. EUR/USD is in fact a comparison of the value of one currency relative to the other. For instance, the quotation Euros to Dollars 1.4500 means that one Euro is exchanged for 1.45 US dollars. If the quote moves from EUR/USD 1.4500 to EUR/USD 1.4510, the Euro is becoming stronger and the Dollar weaker.
The EUR/GBP is another popular currency pair for traders. In the pair of Euros to Pounds Euro is the 'base' currency, and British Pound Sterling is the 'quote' currency. EUR/GBP is actually a comparison of the value of one currency in relation to the other. For example, the quotation EUR/GBP 0.70 means that one EUR is exchanged for 0.70 British pounds. If a change occurs and EUR/GBP 0.70 moves to EUR/GBP 0.80, the Euro is getting stronger and the Pound weaker and vice versa. Euros to Pounds exchange is especially popular in Europe and the UK.
In case of Pounds to Dollars, the base currency is British Pound Sterling and the 'quote' currency is US Dollar. GBP/USD stands third on the list of the most traded currency pairs over the world: daily trading turnover reaches 12% out of the total Forex turnover. This pair has strong volatility and its fluctuations are short-term and unstable. This behavior was the basis for this pair to be called Cable.
AUD/USD, which is also called the Aussie against the dollar, is another popular pair. In AUD to us dollars pair Australian Dollar stands for the “base” currency, while US Dollars is the “quote.” Speaking about the features of this pair, it should be mentioned about the fact that AUD/USD can experience major movement during the European Trading Session. It is also affected by Interest Rates and Commodity Price changes.
To summarize, besides above mentioned pairs, there are also other ones, which are quite popular among the traders. To get acquainted with our instruments, it would be useful for you to visit our page of Trading Conditions. Here you can find any information that might interest you in terms of trading not only currency, but other instruments as well.