There are a huge range of different currency pairings that you are able to link up and trade against each other, and in this section of the website we shall introduce you to those currencies that are often paired up against each other by Australian based Forex traders.
Let us start by introducing you to some of the major worldwide currencies and their associated abbreviations. Have a quick look through this list so you fully understand what each major currency is known as by its abbreviation.
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Australian Dollar – Being based in Australian you are probably already fully aware that the abbreviation for the Australian Dollar is AUD.
British Pound – The abbreviation for the British Pound is GBP.
Euro – The vast majority of European States use the Euro as their currency and the abbreviation of the Euro is quite easy to remember as it is EUR.
Japanese Yen – Another major currency a lot of Forex brokers tend to use as on half of a currency pairing is the Japanese Yen and the abbreviation for this currency is JPY.
Swiss Franc – The Swiss Franc has a very unusual and not instantly recognizable abbreviation and that is CHF.
US Dollar – One major world currency and one that you can instantly recognise from its abbreviation is the US Dollar and its abbreviation is of course USD.
Canadian Dollar – Should you wish to start trading in Canadian Dollars or link it up to any other currency then you need to be aware that its abbreviation is CAD.
New Zealand Dollar – With New Zealand not being that far away from Australia you may be interested in linking up your currency pairings with the New Zealand Dollar and if so its abbreviation is NZD.
Most Traded Currency Pairings
If you wish to follow the crowd in regards to the currency pairings you link up to each other and trade against each other, then below we have listed in order, the most commonly trading currency pairings.
Whilst it is with noting any two major world currencies can be linked up together in any Forex trade, those listed below attract the highest volumes of trade every working day of the week.
- EUR/USD – The most commonly paired up currency pairing is the Euro against the US Dollar.
- USD/CAD – The second most commonly traded currency pairings are UD Dollars and the Canadian Dollar. This is probably due to the majority of Forex traders living or being based in the US!
- GBP/USD – It may surprise you to learn that the third most commonly traded currency pairing is the Great British Pound being traded against the US Dollar and this currency pairing can be quite volatile with the value often swing one way or the other quite massively in value during any given time period!
- USD/JPY – Another quite commonly traded currency pairing and one that is listed as one of the top ten currency pairings is the US Dollar and Japanese Yen.
- AUD/USD – One currency pairing that we are sure all of our Australia based online Forex traders are going to be placing lots of trades on is in regards to Australian Dollars being paring up and traded against the value of the US Dollar.
- USD/CHF – The fourth most commonly traded currency pairing is the US Dollar being linked up and traded against the Swiss Franc.
- EUR/AUD – If you are one of our Australia based website visitors and you are looking to link up AUD with another major currency then one to consider is the Euro being linked up to the Australian Dollar, all online Australian Forex Brokers will allow you to trade this currency pairing and there can be some quite large swings in the value of each currency!
- EUR/JPY – One final currency pairing that is a popular one with traders is the Euro being linked up to Japanese Yen, and once again all of our featured and top rated Forex Brokers will always allow you to pair up and trade these two currencies against each other.
- EUR/CAD – The next major currencies that are traded against each other in large volumes by online Forex traders every single day of the week is the Euro against the Canadian Dollar.
- NZD/USD – The seventh most commonly paired up currency pairing is the New Zealand against the US Dollar, this can also be another volatile currency pairing and one you may be looking to place.