The GBP is the strongest and the NZD is the weakest as the NA session begins

The GBP is the strongest of the majors
Majors

There are hundreds of different currency pairs and crosses that can be traded. Major currency pairs or majors represent the most liquid pairs and widely traded. These include the EUR/USD, USD/JPY, GBP/USD, and USD/CHF.The reason for the popularity in these trading pairs are obvious, given they include currencies of some of the world’s most important economic centers. Additionally, these currencies comprising majors also constitute a significant share of global economic transactions.The US dollar, euro, Japanese yen, British pound, and Swiss franc are all amongst the top traded currencies worldwide. The EUR/USD alone is the world’s most widely traded currency pair, representing approximately 20% of all foreign exchange transactions.Why Retail Traders Prefer MajorsMajors are a ubiquitous offering amongst retail forex brokers and represent their most traded currency pairs. They are the most liquid and also usually possess the lowest spreads during normal trading periods.This differs from exotic pairs, which typically have lower volume or liquidity and thus have higher spreads. Majors trade engage in high volumes relative to minor or exotic pairs, which means that traders can seamlessly enter and exit the market, even with large position sizes. Another advantage of trading majors is the reduction in slippage that traditionally occurs with such trades. High volumes equate to higher numbers of traders willing to buy or sell at a given time. Consequently, there is a reduced chance of or smaller amount of slippage, which is an extremely sensitive issue amongst retail forex traders. These factors in turn ensure that majors are amongst the most traded currency pairs, especially in the retail space.

There are hundreds of different currency pairs and crosses that can be traded. Major currency pairs or majors represent the most liquid pairs and widely traded. These include the EUR/USD, USD/JPY, GBP/USD, and USD/CHF.The reason for the popularity in these trading pairs are obvious, given they include currencies of some of the world’s most important economic centers. Additionally, these currencies comprising majors also constitute a significant share of global economic transactions.The US dollar, euro, Japanese yen, British pound, and Swiss franc are all amongst the top traded currencies worldwide. The EUR/USD alone is the world’s most widely traded currency pair, representing approximately 20% of all foreign exchange transactions.Why Retail Traders Prefer MajorsMajors are a ubiquitous offering amongst retail forex brokers and represent their most traded currency pairs. They are the most liquid and also usually possess the lowest spreads during normal trading periods.This differs from exotic pairs, which typically have lower volume or liquidity and thus have higher spreads. Majors trade engage in high volumes relative to minor or exotic pairs, which means that traders can seamlessly enter and exit the market, even with large position sizes. Another advantage of trading majors is the reduction in slippage that traditionally occurs with such trades. High volumes equate to higher numbers of traders willing to buy or sell at a given time. Consequently, there is a reduced chance of or smaller amount of slippage, which is an extremely sensitive issue amongst retail forex traders. These factors in turn ensure that majors are amongst the most traded currency pairs, especially in the retail space.
Read this Term and the NZD
NZD

The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered as a carry trade currency given it is a relatively high yielding currency. Traders typically buy the NZD and fund it with a lower yielding currency such as the Japanese yen (JPY) or the Swiss franc (CHF).What Factors Affect the NZD?Relative to the US dollar or British pound, the NZD can be much more volatile and dependent on external economic stress or turmoil.Investors with risk appetite often buy the currency, while market fears and crises place negative pressure on the NZD.There are also several factors that can specifically drive the NZD in the forex market. This includes dairy prices as New Zealand is the largest exporter of whole milk powder in the world. A rise in milk prices can lead to spikes in the NZD. By extension, tourism numbers are also important to the NZD.This is due to New Zealand being dependent on tourism as a sizable proportion of its economy. Growing tourism would indicate a higher NZD, and vice versa.

The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered as a carry trade currency given it is a relatively high yielding currency. Traders typically buy the NZD and fund it with a lower yielding currency such as the Japanese yen (JPY) or the Swiss franc (CHF).What Factors Affect the NZD?Relative to the US dollar or British pound, the NZD can be much more volatile and dependent on external economic stress or turmoil.Investors with risk appetite often buy the currency, while market fears and crises place negative pressure on the NZD.There are also several factors that can specifically drive the NZD in the forex market. This includes dairy prices as New Zealand is the largest exporter of whole milk powder in the world. A rise in milk prices can lead to spikes in the NZD. By extension, tourism numbers are also important to the NZD.This is due to New Zealand being dependent on tourism as a sizable proportion of its economy. Growing tourism would indicate a higher NZD, and vice versa.
Read this Term is the weakest as the North American session begins for the day/week. The USD is mixed with a downside tilt thanks to larger losses vs the GBP, CHF and EUR. The greenback is marginally higher vs JPY, CAD NZD and AUD. On Friday, the dollar fell sharply despite a stronger than expected jobs report. After a brief move higher, the dollar reversed lower with technical levels breached helping the run higher (see weekend forex report here which outlines the technical levels in play for the start of the trading week). The US stocks also moved higher on Friday and are trading higher today.