4 Money, foreing exchange, Finance

Task 1

Name: Juan Carlos Ibarra Gaspar

Nua: 117230

Answer the following questions in complete sentences.



What does Forex stand for?

Forex stands for the foreign exchange.

What does Forex refer to?

Forex refers to the foreign exchange transactions can take place on the foreign market, also know as the forex market.

What is Forex trading?

Forex is trading currencies from different banks of countries.

What does Forex trading market refer to?

A global decentralized market for the trading of currencies.

How does the foreign exchange work?

Forex trading always involves selling one currency in order to buy another, which is why it is quoted in pairs. The price of a forex pair is how much one unit of the base currency is worth in the quote currency.

What do people trade?

People trade currencies.

How do people trade?

1.      Select a currency pair.

2.      Analyze the market.

3.      Read the quote.

4.      Pick your position.

5.      Entering a buy position.

6.      Entering a sell position.

What is a currency-pair?

A currency pair is a price quote of the exchange rate for two different currencies traded in forex markets.

What makes currency- pairs move? 

A pair will move if the base currency weakens or strengthens and/or if the quote currency strengthens or weakens. For instance, if the euro strengthens and the US dollar remains the same, it means that the one euro is worth more in US dollars.

Comments

  1. Gerardo CalderónJuly 6, 2021 at 9:46 PM

    Hi Carlos, I just read your answers and I think they are very concise. Very short but strong answers, that´s what I prefer to read. CONGRATS!

    ReplyDelete

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