Forex Glossary

Forex fogalomtár

A Forex fogalomtár érthetővé teszi a nemzetközi devizapiac kifejezéseit, fogalmait. Az információt ábécérendben közöljük, így megkönnyítve a kifejezések és definíciók keresését. Forex fogalomtár egyaránt magában foglal gyakori, speciális, és szlengkifejezéseket. Segítségére lesz a szakcikkek és kereskedési szótárak elemzésében, valamint fényt derít a Forex-piac eseményeire. A Forex fogalomtár hatalmas segítséget nyújt a mindennapi forex-kereskedésben kezdőknek és profiknak egyaránt.

Account

a special personal account opened with the company by a client. This account is used to offset the obligations of the client and dealer, resulting from the deals concluded under the present agreement

Account history

a full list of completed transactions and non-trading operations of a certain trading account

Accounting currency

currency unit in which deposit/withdrawal operations are performed

Adviser

a trading account management algorithm in a form of a program engineered in MetaQuotes Language 4, that sends requests and orders to the server via the client terminal (platform)

Absolute advantage

is the ability of an individual, company, region, or country to produce a greater quantity goods or services with the same quantity of inputs per unit of time, or to produce the same quantity of a good or service per unit of time using a lesser quantity of inputs, than its competitors.

AMIEU

stands for the Australian Meat Industry Employees Union. The union represents the interests of workers in the meat industry.

APEC (Asia-Pacific Economic Cooperation)

is a forum of 21 Asia-Pacific economies that seeks to promote free trade, investment liberalization and facilitation across the region, as well as to foster economic growth and strengthen the Asia-Pacific community.

Ask

is the price a seller is willing to accept for an asset, which is often referred to as the offer price.

Balance

the total financial result of all fully executed transactions and deposits/withdrawals to/from an account

Base currency

refers to the first currency in a currency pair and serves as a reference point for determining the value of the other currency.

Broker

the firm that provides crediting services and trader support

Bull market

is a financial market in which prices are rising or are expected to rise.

Barrel

is a unit of liquid volume used in the international oil market. Prices for basic oil brands are estimated in dollars per barrel.

Brent

is a standard oil brand which is sourced near the European shoreline in the North Sea. This brand is famous for low percentage of sulfur which makes it attractive for oil-processing companies. Brent is a pricing benchmark for almost 40% of all global oil brands. It is traded in international oil markets.

Business Climate Indicator (BCI)

is an indicator that measures the business environment of a particular country based on responses from business representatives. Index data has a direct impact on the market.

Bloomberg

is a media conglomerate and provider of financial news and information, research, and financial data.

BNP Paribas

is a financial conglomerate, one of the world’s largest and reliable banks. According to Standard & Poor’s the bank’s current rating is AA. It has offices in 80 countries all over the world and headquarters in Paris, Geneva, and London with the total amount of employees totaling 200 thousands of people

Balance of payments

is the method by which countries measure all of the international monetary transactions within a certain period.

BHP Billiton

is one of the world’s largest mining companies. It was founded in 2011 and is headquartered in Melbourne, Australia.

Bank Stress Test

is an analysis to determine whether a bank has enough capital to withstand an economic or financial crisis. Federal and international financial authorities require all banks of a specific size to conduct stress tests and report the results on a regular basis.

Bid

represents the highest price a buyer is willing to pay for an asset.

Brokerage

is a middleman who connects buyers and sellers to complete a transaction for stock shares, bonds, options, and other financial instruments.

Bears

are traders who open short trades, expecting a currency exchange rate to fall.

Bulls

are traders who expect the price to rise.

Client

physical or legal party executing operations with the company

Client log file

is a file created by the client terminal that records all requests and orders sent by a client to a dealer with one-second accuracy.

Client terminal

MetaTrader 4 or 5 software product that lets the client get information about financial market trades in real time mode (volume defined by the company), perform technical analysis of markets, operate, set/change/cancel orders and receive messages from the dealer and the company as well

Closed transaction

consists of two opposite trading operations of equal volume (the position opening and closing): buying followed by selling or selling followed by buying

Contract specifications

are the main trading conditions (such as spread, lot size, minimum trade volume, changes in trade volume, initial margin, lock margin, etc.) for each instrument.

Currency pair

two currencies which make up a foreign exchange rate, for example, EUR/USD

Caspian Pipeline Consortium (CPC)

is a major international crude oil transportation project involving Russia, Kazakhstan, and leading international oil-producing companies. The CPC pipeline system mainly collects crude oil from major oil fields of West Kazakhstan for onward transportation to European markets.

CPI

is a consumer price index which shows the average level of prices for goods and services for a certain period of time. It is the main instrument for inflation rate estimation in the USA

Continuous Linked Settlement (CLS)

is a global multi-currency cash settlement system for foreign exchange transactions, established by the FX community in 1997.

COMEX (Commodity Exchange)

is the primary futures and options market for trading metals. It is a division of the Chicago Mercantile Exchange Group. Futures contracts are concluded for any month, including the current month. Trading session schedules for each futures contract are individual.

Chicago Board Options Exchange (CBOE)

is the largest US options exchange located in Chicago. It offers options on over 2,200 companies, 22 stock indices, and 140 exchange-traded funds.

CPI (Consumer Price Index)

measures the overall change in consumer prices based on a representative basket of goods and services over time. The index is calculated monthly and tracks changes in prices for food, clothes, education, housing and household utilities, leisure and entertainment, charges for health care services and transportation fares. It is a key measure of inflation in any country.

Consumer Confidence

indicates how consumers feel about current economic conditions in their country. The index is calculated on the basis of a monthly survey. The survey respondents are asked to assess economic prospects of their country. The index does not tend to affect the markets much, because it provides a subjective vision of the economy, rather than a real picture. A rising index augurs well for the national currency

Concealed unemployment

is unemployment that is not counted when calculating the unemployment rate and is not reflected in official statistics. It is based on data on the number of people receiving unemployment benefits in a country. Apart from this group of people, there are other categories of employable citizens: those who are almost out of work but do not recieve any jobless benefits; those who are employed part-time; and those who have not claimed for any benefits for some reason.

Credit rating

is an assessment of the creditworthiness of a company or government calculated based on its past and current financial performance as well as on the estimated amount it has borrowed and the obligations it has incurred. The estimates are intended to provide potential lenders/investors with insight into the likelihood of timely repayment.

Credit (credit relationship)

is a relationship between subjects arising from cost flow. There are various forms of credit: commercial and banking borrowing, loaning, leasing, factoring etc.

Current account balance

is one of the two components of the balance of payments referring to net revenue on exports minus payments for imports, net revenue on investments and net transfer payments.

Capital account

is the part of the balance of payments that records net changes in a country’s financial assets and liabilities. It shows the flow of investment (both public and private) in and out of a country, as well as the amount of money borrowed and lent.

Comparative advantage

is the ability of an individual, business or country to produce a particular good or service more efficiently and at a lower opportunity cost than its competitors.

Commerzbank

is a European banking institution headquartered in Frankfurt am Main, Hesse, Germany. It offers services to private and entrepreneurial customers as well as corporate clients.

Carry trade

is a trading strategy that involves borrowing at a low-interest rate and investing in an asset that provides a higher rate of return.

Close position

is a fixation of profits or losses on an open position; removal of a pending order.

Consolidation

is a technical analysis term used to describe an asset's price movement within a given support and resistance range for a period of time.

Cross rate

is the currency exchange rate between two currencies, both of which are not the official currencies of the country in which the exchange rate quote is given in.

Currency intervention

is a monetary policy tool that allows policymakers to moderate the pace and extent of currency appreciation or depreciation.

Consumer Confidence Index

measures how consumers feel (optimistic or pessimistic) about the state of the economy. The index is calculated each month on the basis of a household survey of consumers' opinions on current conditions and future expectations of the economy. This index tends to have little impact on the markets because it provides a subjective view of the economy rather than a real picture. A rising index could signal economic growth, thus supporting the national currency.

Cross trade

is a practice where buy and sell orders for the same asset are offset without recording the trade on the exchange.

Closed position

is a position that is no longer active and has been closed by a trader.

Dealing

non-cash currency trading

Dealing center

company that provides access to the money market

Developer

“MetaQuotes Software Corp.” is the trading platform developer

DJIA (Dow Jones Industrial Average)

is the oldest stock market index in the United States that tracks the share price movement of 30 publicly-traded US companies.

Deflator

is a figure expressing the change in prices over a period of time for a product or a basket of products, which is used to 'deflate' (price adjust) a measure of value changes for the same period, thus removing the price increases or decreases and leaving only volume changes. It is also used as a statistical tool to convert dollars into ""inflation-adjusted"" purchasing power.

Demo account (Demonstration account)

is a virtual trading account rendered by a broker to review and test the trading systems features on financial markets without the risk of losing real funds. As a rule, the demo account interface is similar to that of a live account.

Diversification

is an investment strategy designed to reduce the overall risk of an investment portfolio by spreading investments across a variety of asset classes, industries, and geographic regions.

Divergence

is when the asset price moves in the direction opposite to what a technical indicator indicates. When an asset is diverging, it signals weaker price trends and the onset of a reversal. There are two types of divergence: positive and negative. Positive divergence indicates a move higher in the price of the asset is possible. Negative divergence signals that a move lower in the asset is possible.

Double bottom

is a classic technical analysis pattern that signals a bullish reversal. The price holds a low two times and eventually continues with a higher high. The bounce between the two lows should be moderate.

Double top

is a classic technical analysis pattern that signals a bearish reversal. It forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs.

Dow Jones

is a leading global provider of financial news and information. Dow Jones also owns other business periodicals and services, including Barron's, financial news site MarketWatch, SmartMoney magazine, WSJ Magazine, and research service Factiva.

Equity

is the secured part of a client's account, including open positions, which is bound to the Balance and the Floating rate (profit/loss) according to the following formula: Balance + Floating rate + Swap, i.e. the funds in a client's account minus the current loss open positions, plus the current profit on open positions.

ETF (Exchange Traded Fund)

is a basket of securities that trades on an exchange just like a stock does. ETFs can be structured to track anything from the price of a commodity to a large and diverse collection of securities.

ESM

stands for the European Stability Mechanism. It is part of the EU strategy designed to safeguard financial stability in the euro area. Its mission is to provide financial assistance to euro area countries when needed.

ECB (European Central Bank)

was established on June 1, 1998. It is based in Frankfurt am Main, Germany. The General Council of the European Central Bank includes representatives of all euro area countries and all non-euro area countries in the EU. The ECB is independent of political interference.

Economic integration

is the development of stable relationships among neighboring countries aimed at reducing or eliminating trade barriers and coordinating monetary and fiscal policies. This process is usually accompanied by coordinated interstate economic policies.

Export

means delivering (or shipping) goods or capital abroad.

Figure

signifies a price change of 100 pips. For example, if the EUR/USD pair moves from 1.3770 to 1.3870, it means that the exchange rate has increased by one figure.

Force majeure

is an event that cannot be foreseen or prevented. Force majeure events include natural disasters; wars; acts of terrorism; governmental, executive, and legislative actions; hacking and other unlawful acts against servers.

It is also a clause included in contracts to remove liability for unforeseeable and unavoidable catastrophes that interrupt the expected course of events and prevent participants from fulfilling obligations.

Free margin

the equity in a trader's account available for opening new trade positions. It is calculated by substracting the margin used for your current open positions from your equity: Free margin = Equity - Margin.

Fitch Ratings

is one of the largest credit rating and research agencies. It provides analytical financial market data and evaluates the creditworthiness of companies.

Federal Reserve System

is the central bank of the United States and the most powerful economic institution in the country. It is a network of 12 Federal Reserve Banks and 24 branches.

Federal Reserve Bank

is a regional bank of Federal Reserve System of the USA. A network of 12 Reserve Banks carry out money management of the government

Forex (foreign exchange market)

is a segment of the financial market for interbank currency exchange at non-fixed rates.

False breakout

is a term used to describe a failed breakout when the price moves through a certain level (physiological threshold, resistance level/support level) but does not have enough momentum to maintain its direction and reverses.

Flat

refers to a situation in which a market or an asset is neither rising nor falling in price or valuation. It is also known as a horizontal or sideways trend.

Forex indicator

is a software-based analytical tool that can be used to receive and visualize additional information (or information transformed into more understandable format) about the price chart

Goldman Sachs (GS)

is an American multinational investment banking and financial services company. It was founded in 1869 by Marcus Goldman and Samuel Sachs. The bank delivers a broad range of investment banking, investment management, and securities services to corporations, financial institutions, governments, and individuals.

GDP (Gross Domestic Product)

is a macroeconomic indicator measuring the monetary value of all finished goods and services made within a country during a specific period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.

Gasprom

is a natural gas supply and distribution company which is the largest in Russia and the entire world. The company possesses the most extensive gas pipeline system.

Gap

is the difference between the open price and the prior close price, where no trading activity takes place. A gap can be triggered by sharp fluctuations caused by high market volatility.

Gazprom

is a publicly listed fully integrated oil and gas company headquartered in Russia. It is engaged in the exploration, production, transportation, storage, processing, and marketing of natural gas, gas condensate, and crude oil.

Hedging

operation that protects an asset or liability against a fluctuation in the foreign exchange rate

HICP

stands for the Harmonised Index of Consumer Prices. It is a measure of inflation in the Eurozone and the European Union. The HICP tracks consumer price inflation based on the spending patterns of consumers in each EU country, weighted according to that country's share of aggregate consumer spending. The index is particularly important during periods of interest rate hikes, as its growth triggers further monetary tightening and thus national currency appreciation.

Head and Shoulders

is a trend reversal pattern used in technical analysis. The pattern appears as a baseline with three peaks, where the outside two are close in height, and the middle is the highest.

High-frequency trading (HFT)

is an automated form of trading that involves the use of technical tools and computer algorithms (high-speed servers) to trade securities at high speeds. HFT is commonly used by banks, financial institutions, and institutional investors. It allows these entities to execute large batches of trades within a short period of time.

Initial margin

the funds cover required by the company for maintenance of open positions

Intraday trade

trade oriented at gaining profit within one day

IMF (International Monetary Fund)

is an international financial institution funded by the United Nations that works to achieve sustainable growth and prosperity for all of its member countries. By providing loans, the IMF helps its member states develop policy programs that address balance of payments problems.

IPO (Initial Public Offering)

refers to the process of offering shares of a private corporation to the public in a new stock issuance. An IPO allows a company to raise equity capital from public investors.

Industrial Production Index

is a monthly economic indicator measuring real output in the manufacturing, mining, electric, and gas industries, relative to a base year.

ISM Service Index

surveys supply managers in the field of services with an aim to trace changes in this field. The index tends to be sensitive to psychological factors, rather than an actual situation. New readings of the index are published at the beginning of every month at 10:00 EST (NY)

Inflation

is the process of increase in prices for goods and services. Due to inflation, a certain amount of money sufficient for purchase of some good or service at present will not be sufficient anymore in a while.

Investment

refers to long-term outlay of money for profit.

International reserves

are any kind of reserve funds, which central banks can pass among themselves, internationally. International reserves remain an acceptable form of payment among these banks. Reserves themselves can either be gold or a specific currency, such as the dollar or euro. International reserves can be used to finance the current account deficit, currency interventions, etc.

International division of labor

implies that each country produces certain goods because it has everything necessary to produce them as compared to other countries. By specializing in the appropriate production, the country satisfies its own needs, yet relies on foreign trade. Thus, the international division of labor is a principle of the world economy in which each country has its own specialization, exporting the goods it produces while importing the goods in which other countries specialize.

Import substitution

is fostering domestic production of goods rather than importing foreign goods.

International trade

involves the licensed exchange of goods and services across borders.

Import

is delivery of goods or capital into the country from abroad.

Import Substitution Industrialization (ISI)

is a trade and economic policy that advocates replacing foreign imports with domestic production. It focuses on reducing a country's foreign dependency through the local production of industrial products.

ISM Services PMI (ISM Non-Manufacturing Index)

is an index that measures the economic condition and performance of service-based companies. It is based on surveys of purchasing and supply companies in the services sector. As a barometer of the overall economy, the index shows trends in the industry. The Services PMI report is compiled and issued by the Institute of Supply Management.

Jefferies Group

is a global investment banking and other financial services firm headquartered in New York City, the United States.

Lot size

is the quantity of assets, commodities, or base currency units per one lot specified in the contract.

LIBOR

stands for the London Interbank Offer Rate. LIBOR is a benchmark interest rate at which major global banks lent to one another in the international interbank market for short-term loans. It fixed rates for EUR, USD, GBP, JPY, CHF, CAD, AUD, DKK, and NZD. LIBOR is calculated for various borrowing periods, ranging from overnight to one year. LIBOR was replaced by the Secured Overnight Financing Rate (SOFR) on June 30, 2023.

Leading index

shows an average of leading economic indicators such as Factory Orders, Initial Jobless Claims, Money Supply, Average Workweek, Building Permits, quotes of common stocks, Durable Goods Orders and Consumer Confidence. The leading index is believed to predict the pace of economic growth over the next six months. The index is calculated at the beginning of every month and released at 10:00 EST (NY)

Leverage

is borrowed money (called capital) to invest in a certain trading instrument.

Limit order

is a type of pending order (see Pending order) that enables investors to buy and sell securities at a specific price in the future. There are Buy limit (with a restriction on the maximum price to be paid) orders and Sell limit orders (with a restriction on the minimum price to be recieved).

Liquidity

is how quickly an asset can be sold at the current market price. This term refers to market volatility and dynamics: a liquid market is one where there are many bids and offers and participants can easily enter and exit for minimal transaction cost.

Long position

is the buying of a financial instrument

Loss

is the fixed loss on the position

Lot

is a standard unit of measurement in Forex trading. It refers to the number of financial instruments purchased in one transaction on an exchange. Lots also represent a trade size.

Leading Economic Index (LEI)

is an economic indicator used to predict the direction of global economic movements in the coming months. It is composed of 10 economic components such as average weekly hours, initial jobless claims, new orders, building permits, and so on. The LEI is intended to provide an overall indication of the near-term future performance of the US economy. The index is published monthly by the Conference Board.

Light Sweet Oil

is a type of crude oil with low content of sulfur and relatively high output of useful products. It is mainly used for gasoline processing. This kind of oil is in high demand in the US and China. Light Sweet Crude Oil is is one of three global oil benchmarks. WTI is the underlying commodity of the New York Mercantile Exchange's (NYMEX) oil futures contract.

Margin

refers to the amount of equity an investor has in their brokerage account.

Margin level

shows what is the influence of the currently opened positions on your account and how much of your funds are available to open new trades. It is calculated according to the formula: (Equity / Used Margin) * 100%

Margin trading

using borrowed money to buy securities, with the expectation of increasing profits. Margin trading can bring big returns, but is also risky

Market opening

is the beginning of trading after a weekend, holidays, or after a pause between trading sessions.

Market opening price gap

is either of the following situations: market opening Bid price is higher than market closing Ask price, or market opening Ask price is lower than market closing Bid price.

Market-makers

major banks and financial firms that pledge to provide liquidity by accepting the other side of a trade in a currency, security or futures contract

MSCI Asia Pacific

is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1987.

M&A (Mergers and Acquisitions)

refers to the consolidation of companies or their major business assets through financial transactions between these companies.

MSCI (Morgan Stanley Capital International)

is a leading provider of global indices and benchmark related products and services to investors worldwide. The MSCI indices have a major impact on stock markets.

Margin call

is the broker's demand that an investor deposit additional money or securities so that the account is brought up to the minimum value.

Market price

the last posted bid and ask prices for a given asset, currently valid on the market

Non-trading operation

depositing or withdrawing funds from a trading account, or extending credit

Normal market conditions

condition of a market that meets the following requirements:\n- absence of noticeable breaks in relation to the trading platform quotes;\n- absence of rushing price dynamics; absence of significant price gaps

NIESR

is the National Institute of Economic and Social Research founded in 1938 in the UK. It offers statistical data on the national and foreign economies.

NASDAQ (National Association of Securities Dealers Automated Quotation)

is a global electronic marketplace for buying and selling securities of more than 4,000 hi-tech companies with the total capitalization of $19 trillion.

Nikkei 225 Stock Average

is Japanese stock market index which represents an average of the most widely quoted Japanese equities of 225 companies of the first section of Tokyo stock exchange

New York Stock Exchange (NYSE)

is the world's largest equities-based exchange based on the total market capitalization of its listed securities.

North American Free Trade Agreement

is an agreement between the US, Mexico, and Canada that reduced or eliminated tariffs on imports and exports between the three participating countries, creating a huge free-trade zone. The area’s population makes up 406 million people while the combined GDP is $10.3 trillion.

Nord Gold

is an international gold-mining company that operates in Russia, Kazakhstan, and African states of Burkina Faso and Guinea. Company’s shares are traded on the Nasdaq First North Growth Market.

Niesr

is a leading indicator of the GDP growth rate forecast for the past 3 months determined by statistics.

Nominal GDP

is the total value of all goods and services produced in a given time.

Niesr GDP Estimate

measures a change in the estimated value of all goods and services produced by the economy during the previous three months.

Obvious error

is the Dealer’s opening/closing the customer’s positions or executing any orders at prices, which greatly differ from the price of the instrument in the quoting flow at the moment of execution. Or some other Dealer activity or inactivity related to the wrong evaluation of market prices at a certain moment of time.

Open position

the result of the first part of a completed transaction; at the position opening, the client accepts the following liabilities: \n- to execute the opposite operation of equal volume; \n- to maintain equity not lower than 10% of the necessary margin

Order level

the price specified in the order

OPEC (Organization of the Petroleum Exporting Countries)

was established in 1960 by the world’s largest exporters to create a common oil policy and ensure stable prices in the global oil market.

Output

is the volume of goods a company has produced or services it has provided. It is measured in real and value terms

Overbought

is a term used when a security is believed to be trading at a level above its intrinsic or fair value. It is commonly believed that in the overbought zone traders should sell. However, this is not always true.

Oversold

is a condition where an asset is trading lower and has the potential for a price bounce. It is commonly believed that in the oversold zone traders should buy. However, this is not always true.

Pending order

the client instructs the dealer to buy or sell once the price reaches the order level

Pips (points)

are the smallest price moves that an exchange rate can make based on market convention.

Price gap

occurs when the price of an asset jumps from one level to another without any trading in between. Gaps usually follow economic data or news announcements.

PMI (Purchasing Managers’ Index)

is a leading indicator of overall economic activity. Its reading is based on surveys of manufacturing supply managers. The index provides insight to business decision makers, market analysts, and investors.

Pivot point

identifies key levels where the price is likely to encounter support or resistance. It is calculated by taking the average of an asset’s previous high, low, and closing price.

Principal value

is a trader’s initial capital, start-up capital

Pyramiding

is a method of increasing a trade size by adding to an open position.

Quote flow

refers to a continuous stream of real-time price quotes for financial instruments such as currencies, stocks, commodities, and indices.

Range

is an area where support and resistance levels are relatively close and the price bounces between two levels for a period of time.

Resistance level

highest channel’s borderline

Rising trend

describes the price movement of a financial asset when the overall direction is upward. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend.

RBI

is a construction development company, one of the biggest players in the housing and construction markets. The RBI headquarters are located in Saint Petersburg. The company operates in the segments of residential and commercial construction.

Real GDP

shows production output and incomes in real terms.

Reuters

is a global information and news provider headquartered in London, England, that serves professionals in the financial, media, and corporate markets.

RBA

stands for the Reserve Bank of Australia. The bank is responsible for the country's monetary policy and issues and manages the Australian dollar.

RWE (Rheinisch-Westfälisches Elektrizitätswerk)

is a German company engaged in energy trading. The company ranks second in Europe.

Retracement

is a minor pullback or change in the direction of a financial instrument. In technical analysis, it is used to analyze the price of an asset and refers to a short-term change in an asset's price relative to an overarching trend.

Risk management

refers to measures investors can take to protect their capital and limit their losses in volatile market conditions.

Rollover

is the closing of an existing position and the simultaneous opening of a new position with a later expiration date; the method of carrying the position overnight.

Spike

is a comparatively large upward or downward price movement in a short period. Spikes can occur when new information quickly enters the market.

Swap

the amount of money deducted from or added to a client account for the overnight position

Support level

lowest channel’s borderline

Spread

the difference in pips between the Bid and the Ask quote

Server log file

file, created by the server, which records all requests and orders received from the client to a dealer, as well as the processing result, with 1 second accuracy

S&P 500

is a stock index launched by the Standard & Poor’s rating agency. The S&P 500 Index contains 500 of the largest stocks traded on the New York Stock Exchange (NYSE) and Nasdaq. It is a capitalization-weighted index and is one of the main indicators of the American economic climate.

S&P

is one of the largest credit-rating agencies that deals with analytical investigations of financial markets. S&P is also known as the creator of financial market indices such as the S&P 500 Index and the Australian S&P/ASX 200.

Sentix Investor Confidence Sentix

reports the results of a survey encompassing approximately 2,800 investors and analysts. Respondents rate the relative six-month economic outlook for the eurozone. A stronger-than-expected reading usually supports the euro, while a weaker-than-expected reading weighs on the euro.

Stock market

(securities market) is a segment of the financial market where securities are traded.

Short position

is a situation where a trader sells a financial instrument

Slippage

is the situation in the currency market that occurs when the execution price of a trade is different from its requested price. It happens amid price spikes when the position closure level is broken too fast.

Stop loss

is a type of order used by traders to limit their losses or lock in profits on an existing position.

Ticker

a unique identification number given to each open position or a pending order in a trading platform

Trade operation volume

number of lots multiplied by lot size

Trader

person, who trades currency on the Forex market in order to earn profit

Trading Account

unique personalized stock-taking operations register on the trading platform, where complete closed transactions, opened positions, non-market operations and orders are reflected

Trading operation

an act of buying or selling any instrument performed by the client

Trading platform

software and technical facilities that provide the transmission of financial trading information in real time mode, execution of trading operations with account of mutual obligations between the client and the dealer, and control of conditions and restrictions. For the purposes of the present regulation, it consists of "Server" and "Client terminal"

Transaction

trade operations where money resources move from base currency into quoting currency and vice versa

Trend

current general direction of price movement

Trendline

is a line drawn over pivot highs or under pivot lows to show the prevailing price direction. These lines define the current trend. A broken trendline can signal a trend change.

TSE (Tokyo Stock Exchange)

consists of more than 3,500 major Japanese and foreign companies that are members of this stock exchange. The TSE ranks fifth among the leading stock exchanges in term of market capitalization.

Trade deficit

is a negative balance of trade. Balance of trade is a difference between the value of exports and that of imports over a certain period of time. It includes all transactions made between entities in one country and the rest of the world over a defined period of time.

Trade balance

is a difference between the monetary value of exports and imports over a certain period of time (for example, a year). It is calculated for both separate nations and groups of countries and includes both actual transactions and those carried out on credit.

Take profit

is a pending order to close the winning position when it reaches a certain price

Unemployment rate

is calculated by dividing the number of unemployed people by the number of people in the labor force. In most cases, the unemployment rate is expressed as a percentage.