Industrial Forex: knowledge of the world's eight major currencies and nine nicknames

There are more than 190 countries in the world, which means investors have a wide range of currency options when trading. However, due to differences in economic and monetary policies between countries, many currencies are not widely adopted by foreign exchange investors. They prefer currencies from the world's major economies, such as the US dollar, euro, British pound, Canadian dollar, Australian dollar, Japanese yen and New Zealand dollar. These currencies are inforeign exchange marketSufficient liquidity, inIndustrial foreign exchangeWhen trading on other platforms, the US dollar is one of the most common currencies.

In the foreign exchange market, all currencies are divided mainly based on daily trading volume and liquidity. The market divides these currencies intomajor currenciesWith secondary currencies. Here are eight major currencies.

major currencies

US Dollar (USD)

Euro (EUR)

Japanese Yen (JPY)

Pound Sterling (GBP)

Australian Dollar (AUD)

Canadian Dollar (CAD)

New Zealand Dollar (NZD)

Swiss Franc (CHF)

dollar

There is no doubt that the dollar is the legal tender of the United States, the largest economy in the world, and is also globally importantmajor currenciesOne of the reserves. The US dollar accounts for about 87% of global foreign exchange trading volume. When trading at Societe Generale Forex, investors often come into contact with the US dollar.

Euro

The euro is the world's second-largest reserve currency and is issued by the 19-member eurozone. It accounts for 31.4 per cent of daily foreign exchange transactions. It is also commonly traded on Socie ́ te ́ Ge ́ ne ́ rale's foreign exchange platform, Europe's largest economy.

Yen

The yen is Japan's legal tender. As an export-oriented country, the Japanese government has long been committed to maintaining a low exchange rate policy for the yen. The yen ranks third in the world in foreign exchange market trading volume, accounting for 21.6%; Tokyo is one of the world's leading foreign exchange trading centers.

Pound Sterling

The UK is Europe's largest economy after the eurozone. The pound is one of the main reserve currencies of central banks. London is the world's main financial and foreign exchange trading center, where about 40% of the world's foreign exchange transactions are completed. The pound is also a common choice when trading currencies at Industrial Forex.

Australian dollar

The Australian dollar is a classic commodity currency. Australia is rich in commodities such as iron ore and gold, and exports a lot to countries such as China, so the Australian dollar exchange rate is deeply affected by commodity trade activities.

Canadian dollar

The Canadian dollar is also one of the important commodity currencies. Canada is rich in resources such as timber, natural gas, oil and minerals, and the Canadian dollar is therefore classified as a commodity currency.

New Zealand dollar

As a global dairy exporter, New Zealand's New Zealand dollar is also a commodity currency.

CHF

When it comes to the Swiss franc, many people think of the black swan event in 2015. Since Switzerland is a neutral country, the Swiss franc is a classic safe-haven currency.

major currenciesnickname

Listed belowmajor currenciesAnd common nicknames for currency pairs, once you understand their origin, you can more easily remember them.

USD: Greenback, Buck

The dollar is often referred to as "Greenback" after the green paper money issued during the American Civil War in 1861. Buck is also another name for the dollar, originally referring to the stag, and American Indians used to exchange deerskins for dollar currency.

Pound Sterling

The pound is often called "Sterling", or more simply Pound. Historically, 1 pound weighed as much as 1 pound of sterling silver. "Quid" is used informally to refer to "1 million pounds". Forex traders speak of 15 quid as 15 million pounds.

GBP/USD: Cable

"Cable" refers to the sterling and dollar currency pair. In 1858, a transatlantic cable was laid between the United States and the United States to transmit telegraphic messages between the two countries. These cables still carry transaction data to this day, so the currency pair was named Cable.

EUR/USD: Fiber

EUR/USD is the most traded currency pair in the global foreign exchange market and is often referred to as "Fiber". The term is derived from Cable. The euro is younger than the pound, and Fiber, which means fiber optic, is a new form of Cable, so it is used to refer to the newer EUR/USD.

USD/JPY: Yen, Ninja

The nickname for USD/JPY is "Yen" or "Ninja". Yen is the official and well-known nickname for the yen. However, some people also use Ninja, which means "ninja".

Canadian Dollar: Loonie

The national bird of Canada is the Loon, whose image is cast on a $1 coin, so the Canadian dollar is also known as the "Loonie".

New Zealand dollar: Kiwi

The New Zealand dollar is called "Kiwi". Kiwi originally means New Zealand's national bird, the kiwi (also known as the kiwi), and interestingly, New Zealanders are also often referred to as kiwi.

CHF, USD/CHF: Swissy

"Swissy" can refer to both the Swiss franc and the US dollar/Swiss franc currency pair. The origin of this nickname is unknown, but it is presumed to be a derivative of the Swiss currency, as most currency nicknames end in "e", such as Loonie, Aussie. In addition, the US dollar/Swiss franc is sometimes referred to as Chief, because the Swiss franc code in the ISO 4217 standard is CHF, which is derived from the Latin abbreviation "Confoederatio Helvetica".

AUD, AUD/USD: Aussie, Ozzie

Similar to Swissy, "Aussie" can refer to both the Australian dollar and the Australian dollar/US dollar currency pair. Due to the difference in pronunciation between British and American English, the nickname Ozzie emerged.