The forex market: What is it and how does it work?(Guadagnare facile con forex)
The foreign exchange market or exchange rate market is a global and decentralized market in which currencies are traded and that was born with the objective of providing coverage to the monetary flow that derives from international trade.
Also known as Foreign Exchange or FX , currency is a fundamentally unorganized market, which is called ' Over The Counter ' (OTC) in English. Today it is the largest financial market in the world with an average daily volume negotiated around 5 billion dollars and with an important and growing “electronification”.
Unlike the stock exchanges, which are organized markets with clearing or 'clearing house', the forex market is a free market is not regulated or private nature in which there is no body clearing and settlement intermediating between the parties and guarantee the fulfillment of the obligations agreed by them. Each operation is closed between a particular contract between the parties.
The forex market is in operation 24 hours a day for 5.5 days a week , beginning to operate on Sunday afternoons with the opening of the market in Australia and ending on Fridays with the closure of the United States (New York).
On the other hand, being a fundamentally unorganized market, it presents a large number of operating centers around the world, highlighting the following cities; Tokyo, Singapore, Sydney, Hong Kong, Bahrain, London, Frankfurt, Zurich, New York, Chicago and Toronto.
This market is distinguished by its wide variety of participants, from central banks to individuals , and by the large number of currencies or currencies that are traded in it. Among these currencies, the most representative is the US dollar , currency in which more than 60% of central bank reserves are denominated. It is followed by the euro, this being the currency in which 24% of international reserves are denominated, while the Japanese yen and sterling represent 5.4% and 5.6%, respectively.
In general, we can differentiate between the currency market itself and the ticket market; the first refers to the market between financial entities or between financial entities and companies or institutions (also known as wholesale market) while the second refers to the change of physical bills that is made in banks or exchange houses, to fundamentally satisfy the needs of those people who travel to a country whose official currency is different from the domestic currency used in their country of origin (domestic currency is exchanged for foreign currency).(Trading su Forex italia)
The main functions of the currency market or exchange rates are the following:
Set the prices of some currencies with respect to others (currency pairs), that is, define the number of units to be delivered from one currency in exchange for a unit of another currency.
Allow the realization of hedges of exchange rate risk, for example, when investments are made in foreign currency.
Promote the exchange of funds between different countries; we find countries with surplus liquidity and countries that need such liquidity.
Finance international trade, whose operations represent a very significant part of the foreign exchange market.
Currencies are identified by a 3-letter code ( ISO 4217 ) and currency pairs are identified by a 6-letter expression, such as the dollar exchange rate against the euro, EURUSD :
The first three letters of the pair always refer to the base currency (EUR)
The three second letters of the pair always refer to the quoted currency (USD)
The price of a currency pair defines the number of units of quoted currency (X $) per unit of base currency (€ 1)
In the currency market, a great diversity of currencies are traded, which are generally grouped as follows for better identification and reference:
G-10 coins ; where the world's most representative currencies are included (USD-Dollar, EUR-Euro, GBP-British Pound, JPY-Japanese Yen, CAD-Canadian Dollar, CHF- Swiss Franc, AUD-Australian Dollar, NZD- New Zealand Dollar, SEK- Swedish krona and NOK- Norwegian krona).
Emerging currencies ; such as the Polish sloti (PLN), the Czech crown (CZK), the Mexican peso (MXN), the Hungarian forint (HUF), the South African rand (ZAR) and the Russian ruble (RUB).
Middle East currencies ; such as the Israeli shekel (ILS), the Egyptian pound (EGP), the Saudi rial (SAR), the Hong Kong dollar (HKG) and the Chinese yuan (CNH).
Commodity currencies; such as the Canadian dollar (CAD), the Australian dollar (AUD), the Colombian peso (COP), the Peruvian sun (PEN), the Brazilian real (BRL), the Chilean peso (CLP) or the Norwegian krona (NOK). https://infotrader.profitdividend.com/
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