The price of the currency is usually a direct reflection of the market’s opinion on the current and future health of its respective economy.In forex trading, when you buy, say, the Japanese yen, you are basically buying a “share” in the Japanese economy.You are betting that the Japanese economy is doing well, and will even get better as time goes. Once you sell those “shares” back to the market, hopefully, you will end up with a profit.In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country’s economy, compared to other countries’ economies. By the time you graduate from this School of Pipsology, you’ll be eager to start working with currencies. Major CurrenciesWhile there are potentially lots of currencies you can trade, as a new trader, you will probably start trading with the “major currencies.”SymbolCountryCurrencyNicknameUSDUnited StatesDollarBuckEUREurozoneEuroFiberJPYJapanYenYenGBPGreat BritainPoundCableCHFSwitzerlandFrancSwissyCADCanadaDollarLoonieAUDAustraliaDollarAussieNZDNew ZealandDollarKiwiCurrency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.Take NZD for instance. NZ stands for New Zealand, while D stands for dollar. Easy enough, right?
The currencies included in the chart above are called the “majors” because they are the most widely traded ones.We’d also like to let you know that “buck” isn’t the only nickname for USD.There’s also: greenbacks, bones, benjis, benjamins, cheddar, paper, loot, scrilla, cheese, bread, moolah, dead presidents, and cash money.So, if you wanted to say, “I have to go to work now.”Instead, you could say, “Yo, I gotta bounce! Gotta make them benjis son!”Fun fact: Did you also know that in Peru, a nickname for the U.S. Dollar is Coco, which is a pet name for Jorge (George in Spanish), a reference to the portrait of George Washington on the $1 note?They call me Coco yo!
The name “loonie” is so well known as reference of Canadian currency that the Royal Canadian Mint secured the rights to the name loonie. The “cable,” which is. LOONIE is the nickname for a 1 dollar CAD coin. Or just one CAD there is no paper note anymore. Toonie is the nickname for the 2. I have both and will try to post a Loonie Was there (CANADA) recently, went to Kitco as well and they only accept USD for Gold. OH where it comes from is ONE CAD is a LOON, that's what the money is called there.
Nicknames for the most popular currencies and their pairs. USD (U.S. Dollar) – Greenback or Buck. GBP (British Pound) – Sterling. EUR (Euro) – Fiber. CHF (Swiss Franc) – Swissy.