transactions without it leading to major changes in currency and interest rates. O Offer Price a dealer is willing to sell the base currency. Base currency, the first currency in a currency pair, which show how much the base currency is worth in terms of the other currency in the pair. Central bank, usually a government that create a currency and administrate fiscal policy, such as open market operations and keeping a currency reserve in other currencies. Spread The difference between the bidding and asking prices of a currency. Currency, the money used by a country.
This type of order can be an alternative when there is low volatility and no big news are about to effect the currency rates. Forward Contract A contract with a date in the future for delivery of a specified currency if not liquidated before the contract reaches maturity. Trend The direction the market is moving. K Kiwi Slang term for the New Zealand dollar.
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Open Position Any deal which has not been settled on buying (long) or selling (short) for a currency pair. I Initial Margin A deposit required by a broker before trading occurs. Good Till Cancelled (GTC) An order to buy or sell currency at a fixed price. Consists of four points; high, low, opening and closing rate. At best (for best exchange rate). J Jobber Slang term for traders that operate on short-term fast profits and will not usually leave open positions overnight.