Currency Symbols + Names
€
Euro, EUR
What is a pip?
The smallest unit of measurement in forex trading, representing the change in value of a currency pair
Which currency is commonly referred to as the "greenback"
United States Dollar, USD
Buy low, sell ____
Buy low, sell high (works every time)
What is a currency exchange rate?
The rate at which one currency can be exchanged for another currency
¥
Japanese Yen, JPY
What is a central bank?
A financial institution that manages a country's money supply and monetary policy
What does a currency pair represent?
The relative value of one currency against another currency
What is an ask and bid price in forex trading?
Ask: The price at which a trader is willing to buy a currency pair
Bid: The price at which a trader is willing to sell a currency pair
What factors can influence currency exchange rates?
Economic indicators, political events, central bank policies, and market sentiment
฿
Thai Baht, THB
What is a currency swap?
An agreement between two parties to exchange one currency for another and then reverse the transaction at a future date
What is a currency appreciation and depreciation?
Appreciation: when a currency increases in value relative to another currency
Depreciation: when a currency decreases in value relative to another currency
Which country outside of the U.S has the most U.S treasury bonds?
Bonus 100 pts: Actual dollar amount of bonds held
Japan
1.1 trillion
What is the difference between a fixed exchange rate and a floating exchange rate?
A fixed exchange rate is set and maintained by a government, while a floating exchange rate is determined by the market flow.
₩
Korean Won, KRW
What is a GTC order?
Good - Till - Cancelled
an order to buy or sell a stock that lasts until the order is completed or canceled
What is a currency correlation?
The statistical measure of how two currency pairs move in relation to each other
What is arbitrage in forex trading?
The practice of taking advantage of price differences in different markets to make a profit
What are the six currencies that make up the U.S dollar index (DXY)?
Euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc
¢
Ghana Cedi, GHS
What is the slang term used by forex traders to refer to the exchange rate between the pound sterling (GBP) and US dollar (USD)
What amount of FX transactions did Corpay process annually in 2022?
More than $74 billion USD.
The US Fed started their rate hike campaign on March of 2022. How many rate hikes have there been since then? (Bonus 100: What was the rate when the campaign started and today's rate)
11 rate hikes
Bonus:
March 2022: 0.25%
July 2023: 5.50%
!!!DAILY DOUBLE!!!
What leading interest rate benchmark replaced LIBOR?