FXCM Research Team

A currency correlation is the degree by which a currency is interrelated with another currency and is represented on a numeric scale ranging from -1 to +1.

When considered altogether, these statistics and concepts can be used to paint a complete picture of Canada's economic health.

British Pound Basics The pound sterling, also known as the British pound, is the official currency of both the U.K. and its territories. It's also the world's oldest continuously used currency. Traded under the currency code GBP and carrying the symbol £, the pound also goes by the name quid and is divided into 100 pence. The pound sterling derives its name from ancient history, as in roughly 775 A.D.…

While the common currency may come with numerous benefits, it has encountered some strong volatility in the aftermath of the 2008 financial crisis.

While investors can use countless economic indicators to evaluate Japan's economy, having a short list of frequently used measures can make the task a bit easier.

What Are Renko Charts? Renk Charts are charts that some traders choose to use to help identify buy/sell signals. By harnessing these charts, investors can pinpoint important levels of support and resistance. Renko Charts focus solely on price movements, ignoring other data such as time or volume. More specifically, these charts center on tracking minimum price changes. The name of these charts are believed to come from the word "renga,"…

One significant cost in currency trading comes from commissions on trades. Thus, it is of interest to traders to analyze and measure the types and size of commissions to help determine their costs and potential profits on each trade.

Leverage can provide substantial opportunity for forex traders, but it can also present them with a significant amount of risk.

The Thai baht (THB) is an important currency within Southeast Asia, due to the prominence of Thailand as a stable regional economy.

The UK has always had a strong dependence on the use of oil. However, oil has been an especially important factor in the strength of the UK economy.