5 Most-Popular Forex Majors

Major currency pairs are those that are actively traded in the global forex market. Today, the list varies, but it is safe to say that the major currency pairs are currently comprised of USD/CAD, EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, and USD/CHF. Investors highly liquid and stable.

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1. EUR/USD

The EUR/USD currency pair is perhaps one of the most interesting pairs. Last year, the euro cratered to more than a 20-year low and reached parity with the greenback (the dollar). Nearly everyone was bearish on the euro amid an energy crisis and a plunging economy. Today, however, market analysts turned bullish on the currency for several reasons: a warmer-than-expected winter, better-than-expected economic data, and the European Central Bank (ECB) possibly ending its quantitative tightening program in the spring on a decent eurozone economy.

» Be sure to understand the basic forex terms before you start trading

2. GBP/USD

Investors have soured on the British pound, primarily due to out-of-control inflation, a Bank of England (BoE) that is terrified of the gilt (bond) market, and a slowing economy. This currency pair trades in either direction based on fiscal and monetary policy, akin to what happened this past fall when the pound cratered and the yields spiked at an alarming size and pace. But some industry observers say that investors should not be surprised if they notice a sideways trend.

On the technical side of things, the pound sterling is the third most-traded currency, behind the U.S. dollar and the euro. This is a double-edged sword: volumes are high, but the price can fluctuate because of its global influence.