One of the first things to learn for those new in the trade Forex online market is how to read the Forex quote. The trade Forex online market deals with the trading of currency pairs. The key is that the currencies come in pairs; this is because the trade is really buying one currency with another currency. Each currency is written as three letters; for example, the U.S. dollar is written as USD, the Japanese yen as JPY, the Euro as EUR, etc. The Forex quote will then be given with the two currency pairs, like:
Some news can affect the Forex market significantly, so it is necessary to be tuned in with the latest news to know what is happening and make better decisions to trade Forex online; for example, the yen fell against the dollar and the euro on Monday (09-09-2013) losing ground after Japanese stocks rallied following Tokyo's winning bid to host the 2020 Olympics and an upgrade of second-quarter GDP, according to Reuters.com
Gold may gain in London, extending the longest weekly run since October in Trade forex online, as turmoil in Libya and concern inflation will accelerate boost demand for an alternative investment.