Forex major pairs are a set of currency pairs that are traded most frequently in the forex market. These pairs are considered to be the most liquid and widely traded in the market, which makes them popular among traders and investors. The forex market operates 24 hours a day, five days a week, and is the largest financial market in the world, with an average global daily turnover of $5.3 trillion.
There are seven major currency pairs, which are:
– EUR/USD (Euro/US dollar)
– USD/JPY (US dollar/Japanese yen)
– GBP/USD (British pound/US dollar)
– USD/CHF (US dollar/Swiss franc)
– USD/CAD (US dollar/Canadian dollar)
– AUD/USD (Australian dollar/US dollar)
– NZD/USD (New Zealand dollar/US dollar)
These major pairs account for approximately 80% of the total trading volume in the forex market. They are considered to be the most important and influential currency pairs in the market because they represent the economies of the world’s largest and most developed countries.
The EUR/USD pair is the most traded currency pair in the forex market, accounting for approximately 30% of the total trading volume. This pair is highly liquid and is often used as a benchmark for other currency pairs in the market.
The USD/JPY pair is the second most traded currency pair in the market, accounting for approximately 17% of the total trading volume. This pair is often used as an indicator of the health of the global economy, as it reflects the relationship between the world’s two largest economies.
The GBP/USD pair is the third most traded currency pair in the market, accounting for approximately 14% of the total trading volume. This pair is highly volatile and is often affected by political and economic events in the UK.
The USD/CHF pair is the fourth most traded currency pair in the market, accounting for approximately 5% of the total trading volume. This pair is often used as a safe haven currency, as the Swiss franc is considered to be a stable and secure currency in times of economic uncertainty.
The USD/CAD pair is the fifth most traded currency pair in the market, accounting for approximately 4% of the total trading volume. This pair is often affected by fluctuations in the price of oil, as Canada is a major exporter of oil.
The AUD/USD pair is the sixth most traded currency pair in the market, accounting for approximately 3% of the total trading volume. This pair is often affected by fluctuations in the price of commodities, as Australia is a major exporter of commodities such as coal, iron ore, and gold.
The NZD/USD pair is the seventh most traded currency pair in the market, accounting for approximately 2% of the total trading volume. This pair is often affected by economic events in New Zealand, as well as global economic trends.
In conclusion, forex major pairs are the most liquid and widely traded currency pairs in the forex market. These pairs are considered to be the most important and influential in the market, as they represent the economies of the world’s largest and most developed countries. Traders and investors often focus on these major pairs due to their high liquidity and volatility, which can provide opportunities for profit.
