Currency
List two main currency pair
eur/usd, usd/jpy, gbp/usd, usd/chf, usd/cad, aud/usd, nzd/usd
What are the functions of money?
use as a medium of exchange, store value, unit of value
How much unit is a standard lot
100,000
What is base currency?
First currency listed
What was the first exchange of money?
Barter system
How much unit is a mini lot
10,000
what is quote currency?
the second currency listed
Name a function of gold
Scarce, hard to harvest, durable
how much unit is a micro lot
1,000
what is currency pair?
quoting one currency against another
What is gold standard?
Gold standard is a system that backs its currency with gold
how much unit is a nano lot
100
ISO stands for and code?
International organization for standardization. The code is a three-letter alphabetic code
When was the end of the gold standard?
August 15,1971
What is a lot?
It defines the trade size, or the number of currency unit to be bought or sold in a trade.