Guide to Currency Trading: Developed Countries

Australia

Currency Australian Dollar
Common Name Aussie
Quotation Convention 4 decimal points
Most liquid cross AUD/USD
Average Bid/Offer * 5 pips (0.6800 / 0.6805)
1 pip .0001 USD
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

Canada

Currency Canadian Dollar
Common Name Canadian
Quotation Convention 4 decimal points
Most liquid cross USD/CAD
Average Bid/Offer * 5 pips (1.4500 / 1.4505)
1 pip .0001 CAD
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

European Union

Currency Euro
Common Name Euro
Quotation Convention 4 decimal points
Most liquid cross EUR/USD
Average Bid/Offer * 3 pips (1.1570 / 1.1573)
1 pip .0001 USD
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

Great Britain (United Kingdom)

Currency Great British Pound
Common Name Sterling, Cable
Quotation Convention 4 decimal points
Most liquid cross GBP/USD
Average Bid/Offer * 4 pips (1.7000 / 1.7004)
1 pip .0001 USD
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

Japan

Currency Japanese Yen
Common Name Yen
Quotation Convention 2 decimal points
Most liquid cross USD/JPY
Average Bid/Offer * 3 pips (110.70 / 110.73)
1 pip .01 JPY
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

New Zealand

Currency New Zealand Dollar
Common Name Kiwi
Quotation Convention 4 decimal points
Most liquid cross NZD/USD
Average Bid/Offer * 5 pips (0.6200 / 0.6205)
1 pip .0001 USD
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

United States

Currency U.S. Dollar
Common Name Dollar
Quotation Convention 2 decimal points
Most liquid cross USD/JPY, EUR/USD
Average Bid/Offer * 3 pips (110.70 / 110.73)
3 pips (1.1570 / 1.1573)
1 pip .01 JPY, .0001 USD
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

Switzerland

Currency Switzerland Franc
Common Name Swiss
Quotation Convention 4 decimal points
Most liquid cross USD/CHF
Average Bid/Offer * 8 pips (1.3300 / 1.3308)
1 pip .0001 CHF
Settlement Transaction plus two days (T+2)

ECONOMIC OVERVIEW | ECONOMIC POLICY MAKERS AND TOOLS

* The “Average Bid/Offer” listings above are illustrations of how the average prices or spreads of a listed currency pair may appear. They do not, however, reflect the spreads or bid/offer prices available to forex traders through Global Forex Trading, Division of Global Futures and Forex, Ltd.