The world has been witnessing great changes in its financial markets lately. The condition of many markets is becoming volatile leading them to turn positions drastically, not sparing even a minute from undergoing a change. In a growing age of technology, there are many forex trading software that help trader keep track of every move the market takes.
Forex is a market that never sleeps and remains active 24 hours of all 5 working days. Because of its activity and volume of trade, it’s ranked as the largest financial market in the world. The forex market undergoes a trade of $ 5.3 trillion every day. In order to clearly study the dynamics of the forex market, we split these 24 hours into time-frames of 60 seconds. There is a transaction of $ 3.52 billion in every minute of the day.
The highest traded currency pair in the forex market is EUR/USD, which has a transaction of $ 812 million in a minute. USD/JPY sees a transaction of $ 632 million while $ 326 million worth of USD/GBP is traded every 60 seconds of the day.
There is a total $ 3 billion worth of USD transaction in a minute around the world, when the total amount of Euros traded in a minute is $ 1.1 billion.