6. Our Currency Pairs

what is forex

 

Currencies’ Nicknames 

 

A majority of forex traders have nicknames for different currencies. For instance, USD/GBP is usually referred to as the Cable. This term, Cable, comes from the Trans-Atlantic communication cable between the United States and Britain over a century ago. Other nicknames for currencies include Kiwi for New Zealand dollar, Aussie for the Australian dollar, and Loonie for the Canadian dollar, and Swissy for the Swiss Franc. In this post, we have added more nicknames to a few of the market examples below.
Etoro Index enables you to trade in 37 currency pairs that include exotic, minors, and majors pairs. We shall look at the two commonly used pairs in the forex market- minor and major pairs

 

Major Currency Pairs

A majority of these pairs are liquid currencies and are the most widely traded currencies globally. They constitute approximately 85 percent of the total trading forex market volume. The ranges for these major currency pairs are typically tighter as compared to the minor currency pairs which are less traded in the forex market. Among all major currency pairs, EUR/USD are the most traded in regards to volume. Below are more examples of major currency pairs:

• USD Vs. CAD – Nickname: Loonie 
• USD Vs. CHF – Nickname: Swissy
• AUD Vs. USD – Nickname: Aussie dollar
• GBP Vs. USD – Nickname: Cable 
• USD Vs. JPY – Nickname: Dollar Yen
• EUR Vs. USD- Nickname: Euro Dollar

 

Minor Currency Pairs 

They are not widely traded as compared to major currencies; therefore, they tend to change more frequently. Minor currency pairs’ spreads tend to be wider because of the medium-sized liquidity in the forex market. Below are a few of the minor currency pairs commonly traded in the forex market:

• EUR Vs. SEK- Nickname: Euro Stokkie ( Euro/Stokkie)
• EUR vs. NOK – Nickname: Euro Nokkie ( Euro/ Nokkie)
• AUD Vs. NZD- Nickname: Aussie Kiwi ( Australian Dollar/ New Zealand Dollar)
• EUR Vs. JPY- Nickname: Euro Yen ( Euro/ Japanese Yen)

 

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