A derivative security designed to mimic the major index of an international exchange. |||Country baskets were created by brokerage firms to allow investors the capability of investing in specific foreign markets without the restrictive costs. These baskets act similar to passive exchange traded funds and typically will trade on the NYSE and AMEX.
The currency used as the reference or second currency in a currency pair. When viewing an ISO currency code the counter currency is listed after the base currency, and is separated with a slash. Major currencies, such as the euro and U.S. dollar, are more likely to be the base currency in a currency pair. |||It is important to understand the structure of the currency pair in order to understand forex trading. In the currency pair USD/EUR the euro (EUR) is considered the counter currency. In the pair, units of counter currency are per unit of base currency.
A financial institution that provides services on behalf of another, equal or unequal, financial institution. A correspondent bank can conduct business transactions, accept deposits and gather documents on behalf of the other financial institution. Correspondent banks are more likely to be used to conduct business in foreign countries, and act as a domestic bank's agent abroad. |||Correspondent banks are used by domestic banks in order to service transactions originating in foreign countries, and act as a domestic bank's agent abroad. This is done because the domestic bank may have limited access to foreign financial markets, and cannot service its client accounts without opening up a branch in another country.
U.S. aggregate retail sales excluding automobile and gasoline sales, which are excluded due to their volatility. The figures are released monthly by the U.S. Department of Commerce about two weeks after the end of the reference month. As consumer spending accounts for more than two-thirds of the U.S. economy, the core retail sales data is an important indicator about the health of the overall economy. |||Core retail sales data is used extensively by various government bureaus to calculate GDP, develop consumer price indexes and analyze current economic activity, while the Federal Reserve uses the numbers to assess recent trends in consumer purchases.
A measure of inflation that excludes certain items that face volatile price movements. Core inflation eliminates products that can have temporary price shocks because these shocks can diverge from the overall trend of inflation and give a false measure of inflation. |||Core inflation is most often calculated by taking the Consumer Price Index (CPI) and excluding certain items from the index, usually energy and food products. Other methods of calculation include the outliers method, which removes the products that have had the largest price changes. Core inflation is thought to be an indicator of underlying long-term inflation.
The currency abbreviation for the Columbian peso. The COP has been the currency of the Republic of Columbia - a South American country - since 1837. The peso was fixed to the U.S. dollar for a period, but now floats freely. |||Because Columbia is a republic, its governmental structure is similar to the U.S. The Columbian government has three branches: executive, legislative and judicial. The president is the head of state and head of government and is elected by popular vote for a four-year term.
Colloquial term used by currency traders for the Danish krone, Denmark's official currency. The copey derives its name from Copenhagen, Denmark's capital and largest city. A copey is divided into 100 Øre, pronounced "oo-reh." |||The currency code for the copey or Danish krone is DKK. Market convention is to quote the number of Danish krone per U.S. dollar. Denmark is a member of the European Union, but the copey is also used in the Faeroe Islands, and Greenland.
The closing out of a profitable short position as the security moves toward a key level of support. As a security moves closer to a level of support the chances of it falling any further weaken because buying has come into the security at the support level, which keeps the price from a continued downward move and limits the continued success of the short trade. |||Critical support levels often provide limits for how far a security can fall. By covering before the security gets to the support level, they are being conservative with their gains as support levels limit further moves downward and can often see large moves back up as the security bounces.
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