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Forex Dictionary

Term Equivalent terms Definition
GBP Currency code for British Pound sterling, commonly called the pound (Symbol is £). The third largest reserve currency in the world, it traces its origins to Anglo-Saxon times and is the oldest currency in use today.
Gearing Synonym to financial leverage, the term relates to margin trading where the trader control a position whose face value is greater than the money he deposited.
Globex Established by Reuters in 1992, it is a trading platform that allows traders to trade electronic futures and options without regard for time zone.
Going Long The purchase of a currency pair when square.
Going Short Selling a currency pair when square.
Gold Standard In contrast with fiat money, it is a monetary system in which currencies are defined in terms of their gold content and payment imbalances between countries are settled in gold. It was in effect across Europe and the United States from 1870 to 1914, and most recently under the Bretton Woods System. The advantage is that reduces the likelihood of inflation and takes monetary policy out of the hands of government policymakers.
Golden Cross In technical analysis, when a short moving average (20 day) crosses under/over a long moving average (200 day), considered a favorable sign that the underlying currency will move in the same direction.
Goldilocks Economy Coined in 1902 to describe an economy that has steady growth and acceptable inflation, and thus not too hot and not too cold.
Good Until Canceled An order to buy or sell a currency at a specific price whenever that price becomes available, and this order not expire at the end of the trading day (see Day Order), though broker may set a limit of 30-60 days.
Gross Domestic Product GDP The total value of all goods and services produced in a country over time, usually in a given year, including the income of foreign corporations and foreign residents working in the US, but excluding the income US residents and corporations overseas. GDP is calculated by adding together total consumer spending, total government spending, and the value of net exports. Increasing GDP indicates a growing economy.
Gross National Product GNP GDP plus the income abroad from domestic citizens living in a different country minus income made in home country by non-citizens. Less commonly used now.
Group of Eight G8 G7 plus Russia.
Group of Five G5 Five leading industrial nations (France, Japan, Germany, the UK andUS), which meet from time-to-time to discuss common economic problems.
Group of Seven G7 Seven leading non-communist industrial nations composed of G5 plus Canada and Italy.
Group of Ten G10 Also known as The Paris Club, it includes Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, UK and US. These nations signed an accord in 1962 to increase the fund available to the IMF and aid member countries with balance-of-payments difficulties.
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