Pairs Crossing
Is/are there many cross currency pairs more volatile than the majors in forex trading?
It seems that USD based currency pairs have the lowest spread. However, I am living on the other half of the earth (12 hours ahead/behind New York), and I am new to such forex trading
It's not entirely about location, since most financial markets are already integrated across the globe. USD based currency pairs have the lowest spread because the USD dollar remains the primary currency of trade across the planet/ among countries. The US remains the dominant economy in the world and so most other currencies are pegged to the USD, although the Euro and Japanese Yen also stand as major currencies. With that being said, volatility/spreads are lower/tighter because of the liquidity and activity of currency traders.
Let's shift our attention to a common household item like soap (as if it were the USD). If there are a lot of buyers and sellers of this item, then the price and quantity movements would be shifting all the time at minuscule fluctuations. No one trader (buyer/seller) can effectively influence the price level of the soap because if he sold too high, another trader will simply come in and sell it a lower price (albeit at a fractional discount). This also applies to a buyer, if he quotes a price for a soap another guy may step in and offer to buy that soap at a higher price (albeit only at a fractional premium). Since everyone uses (demand) and sells (supply) soap, you can be sure someone will always be there to handle the soap, therefore higher liquidity, lower volatility, smaller spreads.
Rarely traded currency pairs are usually volatile and have bigger spreads simply because their liquidity is low. Let us again use a substitute item, bird cage. Although soaps are frequently seen in most if not all households, a bird cage is not. This means that not everyone is interested in buying or selling a bird cage. The very fact that a currency is infrequently used in market trade, also means that there is no point in handling too much of it. Sellers of a currency can try to offset the risk of not being able to sell it as easily as more popular currencies by demanding wider spreads. They can't be sure that they will be making a sale in the next minute or so, but they know that in the next hour, the wait will be worth it (kind of like selling furniture).
Just keep demand and supply in mind. I hope this simplifies the concept!
Cattle Crossing Stream
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