What Is the Chilean Peso (CLP)? The Chilean peso is the official currency of Chile and is issued by the Banco Central de Chile, the country’s central bank. It is represented by the code CLP on the foreign currency markets. The peso is symbolized by $, usually preceded by the symbol CLP to distinguish it
What Is the Chinese Yuan Renminbi (CNY)? The term Chinese yuan renminbi (CNY) refers to the currency used in the People’s Republic of China. Although it may seem a little confusing because the names are often depicted together, they’re actually two separate terms. A yuan acts as China’s unit of account for its financial system
What Are the Commodity Pairs? The commodity pairs, or commodity currencies, are those forex currency pairs from countries with large amounts of commodity reserves. These pairs are highly correlated to changes in commodity prices since the countries produce and export various commodities. Traders and investors seeking exposure to commodity price fluctuations often take positions in commodity currency
What Is a Currency Day Trading System? A currency day trading system is a framework that day traders in the foreign exchange market use to determine whether to buy or sell a currency pair on a short-term or day trading basis. Typically, these systems consist of several graphical interfaces that produce charts, indicators, and other currency day trading signals
What Is Currency History? Currency history is a term that refers to the historical performance of various currency pairs on the forex market, representing differences in exchange rates over time. Forex traders use these historical currency exchange rates to get a handle on how a currency pair has traded in the past in relation to
What Is Electronic Currency Trading? Electronic currency trading is a method of trading currencies through an online broker or via an online currency exchange. Trading electronically significantly increases access to markets, lowers trading costs, streamlines confirmation and settlement times, and ensures forex markets can operate globally on a 24/7 basis without interruption. Key Takeaways Electronic currency
What Are Currency Pairs? Currency pairs are the national currencies from two countries coupled for trading on the foreign exchange (FX) marketplace. Both currencies will have exchange rates on which the trade will have its position basis. All trading within the forex market, whether selling, buying, or trading, will take place through currency pairs. Understanding Forex Quotes How
What Is the Foreign Exchange Market? The foreign exchange market (also known as forex, FX, or the currencies market) is an over-the-counter (OTC) global marketplace that determines the exchange rate for currencies around the world. Participants in these markets can buy, sell, exchange, and speculate on the relative exchange rates of various currency pairs. Foreign
What Is Forex Analysis? Forex analysis is the practice of examining the changes in currency pair prices and the forces influencing those price changes. It is used by forex traders who buy and sell currencies with the goal of making a profit. Fundamental and technical analysis methods are both used in forex trading, with many
What Is Forex Charting Software? Forex charting software is an analytical, computer-based visualization toolkit used to help currency traders with foreign exchange (FX) trading analysis. These software tools produce interactive price charts for various currency pairs along with various technical indicators and overlays. Many traders use forex charting software packages to determine the likely direction
