Global Currency Exchange
Forex or FX markets is a global exchange of currency that is run by a network of banks and other financial institutions. Currency in different countries is paired and traded by ways of speculation and used for future price movements, similar to the stock exchange. Forex is traded on margin and is highly liquid. Forex is the most actively traded markets in the world, with an average daily trading volume of $6.6 trillion.
Transactions are spread across four major trading centers over different time zones, London, New York, Sydney and Tokyo. Trading 24 hours/day starting at 5pm Sunday evening through 4pm Friday evening Eastern Standard Time. A country’s inflation, GDP (Global Domestic Product) Production Reports, Retail Sales and Employment, as well as market sentiment, drive the market in currency.