What Are The 8 Major Currency Pairs?

The 8 major currency pairs are EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, NZD/USD, and EUR/JPY. These are the most traded pairs in the world. They have high liquidity, low spreads, and strong ties to large economies.

Let’s take a closer look at the 8 most commonly traded currency pairs:

8 Major Currency Pairs

EUR/USD (Euro/US Dollar)

This is the most traded pair. It matches the euro with the US dollar. The euro is used by many European countries. The dollar is the world’s top reserve currency.

EUR/USD is known for its tight spread. Many traders like it because of its clear moves. News from the US or Europe can move this pair quickly.

USD/JPY (US Dollar/Japanese Yen)

This pair links the US dollar and the Japanese yen. Japan has one of the world’s largest economies. The yen is also a safe haven currency.

USD/JPY is popular during Asian and US trading hours. It can move a lot when central banks speak or when there’s global tension.

GBP/USD (British Pound/US Dollar)

This pair is also known as “Cable.” It matches the British pound with the US dollar. It is one of the oldest and most active pairs.

The pound often moves with UK news like interest rates or jobs reports. GBP/USD is known for bigger swings than EUR/USD.

USD/CHF (US Dollar/Swiss Franc)

This is the US dollar and the Swiss franc. The franc is seen as a safe place in times of trouble. Many traders turn to it when markets are shaky.

USD/CHF often moves the opposite way of EUR/USD. If EUR/USD goes up, USD/CHF might go down.

AUD/USD (Australian Dollar/US Dollar)

This pair links the Australian dollar with the US dollar. Australia is rich in natural resources. Gold and iron prices can affect the Aussie dollar.

AUD/USD is active during the Asian session. It can be a good choice if you like trading at night (in US or Europe time).

USD/CAD (US Dollar/Canadian Dollar)

This is the US dollar and the Canadian dollar. Canada is a big oil producer. So, oil prices can move this pair.

USD/CAD is called the “Loonie.” It reacts to oil, jobs, and central bank news. It trades best during US and Canadian hours.

NZD/USD (New Zealand Dollar/US Dollar)

This is the New Zealand dollar and the US dollar. It is not as big as the others, but still a major pair. New Zealand’s economy is tied to farming and exports.

NZD/USD moves with dairy prices, interest rates, and trade news. It’s also more active in the Asian trading hours.

EUR/JPY (Euro/Japanese Yen)

This pair matches the euro and the Japanese yen. It mixes two strong currencies. Traders use it to watch risk in the market.

EUR/JPY often moves with global news. It also reacts to European and Japanese reports. The pair can move fast during high-impact events.

Why Are These Called 8 Major Currency Pairs?

These 8 currency pairs are called “major” because they are traded the most. They involve the biggest economies. They also have the highest trading volume. This means they are easier to buy and sell.

Major pairs usually have tight spreads. That means you pay less when you enter or exit a trade. They also react to news. That makes them popular for traders.

Why These 8 Currency Pairs Are Great for Trading

These 8 major currency pairs are good for many reasons. First, they have low spreads. That means traders pay less in fees.

Second, they are easy to trade. There are lots of buyers and sellers. This is called high liquidity.

Third, they move with news. You can plan trades around reports. Many traders use a calendar to know when to trade.

How to Pick the Right Currency Pair

Each currency pair has its own style. Some are fast. Some are slow. Think about when you want to trade.

If you trade in the morning (US time), try EUR/USD or USD/JPY. If you trade at night, look at AUD/USD or NZD/USD.

Also, think about what news moves the pair. If you follow oil prices, maybe trade USD/CAD. If you watch gold, AUD/USD may work better.

Try different pairs on a demo account. See which ones you like.

How the 8 Major Currency Pairs Compare

Each of the 8 major currency pairs behaves differently. Some move fast. Some move slow. Some respond to news more. Here is a simple table that shows how they compare:

This table helps you choose pairs based on when you trade and how fast you like the market to move. For example, if you like fast moves and trade in the morning, GBP/USD or USD/JPY may suit you. If you trade overnight, look at AUD/USD or NZD/USD.

What Impacts These 8 Major Currency Pairs Most

Each currency pair reacts to different things. For example, EUR/USD reacts to the eurozone and U.S. news. That includes interest rates, jobs reports, and inflation data.

USD/JPY often moves when traders are worried about world events. The yen is known as a “safe haven” currency. That means people buy it during risky times.

Commodities matter too. USD/CAD reacts to oil prices. AUD/USD follows gold and iron prices. NZD/USD moves with dairy reports and farm news.

Central banks also play a big role. When they raise or cut interest rates, the pairs can move a lot. Keep an eye on central bank meetings from the U.S. Federal Reserve, European Central Bank, and Bank of Japan.

How Beginners Can Trade These 8 Major Currency Pairs

If you’re new to forex, start with a simple currency pair. Many people begin with EUR/USD. It moves clearly and has low fees. It’s also open during normal hours in Europe and the U.S.

Try a demo account first. This lets you trade with no risk. Watch how each currency pair moves. Take notes. Learn how news affects the price.

Once you feel ready, trade small. Don’t risk a lot at first. Use stop-loss orders to protect your money. Over time, you’ll know which pairs match your style best.

Stick to one or two pairs in the beginning. It’s better to understand a few pairs well than to trade all of them without a plan.

Tips for Matching Currency Pairs to Your Strategy

Not every pair fits every trader. Some traders like to trade trends. Others like breakouts. Pick pairs that move the way your strategy needs.

If you like trends, look at EUR/USD, GBP/USD, or USD/JPY. These pairs often trend clearly, especially after big news.

If you trade based on news, focus on pairs tied to strong reports. USD/CAD moves with oil data. GBP/USD reacts to UK jobs and inflation numbers.

If you want fast moves in short trades, try GBP/USD or EUR/JPY. They can move many pips quickly. But be careful; fast moves also mean fast losses.

For longer-term trades, pairs like AUD/USD or USD/CHF may be calmer. They can hold direction over many days or weeks.

Conclusion

The 8 major currency pairs are the top choices for forex traders. They include EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, NZD/USD, and EUR/JPY. These pairs are popular because they move a lot, have low fees, and offer clear trends. Trading them is easier with a good platform. That’s why brokers like Defcofx are helpful. 

Defcofx gives traders high leverage up to 1:2000, no commission fees, and low spreads starting at 0.3 pips. Plus, their 40% welcome bonus on first deposits and fast support make them a great place to start or grow as a trader.

FAQ

1. What are the 8 major currency pairs?

EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, NZD/USD, and EUR/JPY.

2. Why are these called “major” pairs?

They are called major because they are traded the most and involve big world economies.

3. Which pair is best for beginners?

EUR/USD is a good start. It moves clearly and has low spreads.

4. Do these pairs move at the same time?

Not always. Some are more active during certain trading hours based on their country.

5. Can I trade all of them on Defcofx?

Yes. Defcofx supports all major pairs and offers tools to trade them easily.

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