Forex Information - An Overview Of The Euro’s Performance In The Forex Markets (Part 1)

The Forex, also called the foreign exchange market is the largest and most liquid trading market in the world. Unlike the stock exchange, the Forex does not have a certain trading place or closing time. Instead, over $2 trillion are traded and sold every day. The Forex never closes and trading takes place twenty-four hours a day during the business week.

There are currently six major currency pairs that are used and traded each day on the Forex. These six pairs account for up to 90 percent of the trading activity each and every day. These include the euro and the US dollar (EUR/USD), the Japanese yen and the US dollar (JPY/USD), the US dollar and the Swiss Franc (USD/CHF), the Australian dollar and the US dollar (AUD/USD), the British pound and the US dollar (GBP/USD) and the US dollar and the Canadian dollar (USD/CAD).

Each of these currencies operates a little differently in the Forex and fluctuates a little on a daily basis. The Euro is very important in the foreign exchange currency. It does not just represent one country, but a total of twelve countries in Europe. The countries that are members of the European Union and recognize the Euro as currency are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and Sweden. Out of the fifteen members of the European Union, only two do not recognize the euro as the official currency. These are Denmark and the United Kingdom. Sweden only began using the euro in 2005.

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