Trading Knowledge

Accrual

The allotting of premiums and bonuses on forward exchange transactions that are directly related to deposit swap orders, over the session of every deal.

Adjustment

This is an authorized activity usually warranted by an alteration in the internal economic procedure to fix a payment imbalance or in the sanctioned forex rate,

Aggressive

Investors and or price are behaving with conviction.

Analyst

A financial expert who is experienced in assessing investments and lays down buy, sell, close and hold advice for clients.

Appreciation

A financial instrument is said to appreciate when it steps up in price in view of the prevailing demand in the market.

Arbitrage

The concurrent buying or selling of a financial asset in a view to make profit of marginal price differentials between.

Asian central banks

This is the apex banks in Asia or the region’s monetary bodies. They have continued to enhance their activities in the major currencies and as such aided in their rapid control of the pools of forex reserves emanating from Handel excesses.

Asian Session

23:00 – 08:00 (GM+2).

Ask (offer) price

The charge at which an asset will sell in the market and can be quoted in two-ways, namely: Bid/Ask. The Offer can also be used in place of the Ask price.In the forex market, the Ask depicts the price an investor is willing to buy the base currency, which is place on the left in a forex pair. If we have a quote EUR/USD 1.3066/68, the base currency here is the Euro, and the Ask price is 1.3068, which implies that one can buy one Euro for 1.3068 United States dollars.

AUS 200

The AUS 200 is what investors call the index of the top 200 firms by market Cap on the Australian Stock Exchange.

At best

This is the order passed on to a dealer to buy or sell at the most suitable rate that can be gotten.

Aussie

A term used to describe the AUD/USD pair, it can also be referred to as the ‘Oz’ or ‘Ozzie’.

Balance of Handel

This is the value of a country’s imports taken away from exports.

Bar chart

This is a chart type that is made up of four important points: the high and low prices, which constitutes the vertical bar, the opening and closing price, which form a little horizontal line to the left and a little horizontal line to the right of the bar respectively.

Base currency

The Base currency is the first currency in a forex pair. It depicts how much the base currency is worth when compared to the second currency in the pair. For instance, the EUR/USD rate is 1.3066, this suggest that one Euro is equal 1.3066 USD.

Base rate

A given country’s lending rate as prescribed by its apex bank.

Basing

A procedure employed in technical analysis, that involves displaying a chart pattern that shows a period when demand and supply of a product are almost the same. This pattern is characterized by a narrow trading range and the fusing of the levels of support and resistance.

Basis point

Measurement unit employed in defining the minimum alteration in the price of an asset.

Bearish / Bear market

This is indicative of a negative price action. For instance, if we go bearish on the EUR/USD pair, this is a bet on Euro weakness as compared to the US dollar.

Bears

Bears are investors who anticipate declining prices and may also be taking sell orders in the market.

Bid price

The price the market finds suitable when buying a product.

Bid/ask spread

The difference between the Bid and Ask prices.

Big figure

These are the first three digits of a forex quote, such as the 1.30 in the EUR/USD. If we say price has moved by 1.2 big figures, it actually means price has moved 120 pips.

BIS

This is an acronym for the Bank for International Settlement situated in Basel, Switzerland, and it is the apex bank for apex banks. The Bank for International Settlement usually acts as a middleman in the market, connecting the apex banks and the market. The BIS has gained more prominence in the market as apex banks have increased their currency reserve management.

Black box

These are words used in defining systemic, model-based or technical Handelrs..

BOC

An acronym for the Bank of Canada, the apex bank in Canada.

BOE

The apex bank of the UK, i.e. Bank of England.

BOJ

Bank of Japan, Japan’s apex bank.

Bond

This is what Handelrs call debt that is issued over a specified period of time.

Book

In the financial world, a ‘book’ is a complete overview of an investor’s or desk’s entire positions.

British Retail Consortium (BRC) shop price index

A fundamental tool that measures British inflation rate based on varying surveyed retailers. The index singles out price changes in the number of goods purchased from retail outlets.

Broker

A person or firm that plays middleman, with the sole responsibility of bringing buyers and sellers together for a commission. In comparison, a ‘dealer’ invests cash and takes one side of a position, hoping to make cash off spread by exiting the position in an ensuing Handel with another body.

Buck

Slang in the market that connotes a million units of US dollar.

Bullish / Bull market

This is a rising market that’s characterized by rising prices. For instance, a bullish EUR/USD signifies a strengthening Euro against the US dollar.

Bulls

These are investors who anticipate rising prices and may also hold long positions.

Bundesbank

German’s apex bank.

Buy

Holding a long position on an asset.

Buy dips

This is when a Handelr holds a buy position of 20 – 30 pip pullbacks in the direction of an intra-day trend.

Cable

This is a slang that is used in describing the GBP/USD pair. The term dates back in the mid-1800 when rates were conveyed through transatlantic cable.

Candlestick Chart

A pictorial representation that depicts trading ranges for various timeframes, along with open and close price. If the close price is lower than the open price, the rectangle is filled. If on the other hand the close price is higher than the open price, the rectangle is not filled.

Capital Markets

A market that is built for medium – to long – investments, like Eurobonds and United States government bonds.

Central Bank

This is a government or organizational body that controls a regions monetary policy. For instance, in the United States, we have the Federal Reserve, the Eurozone has the ECB, BOE is for the United Kingdom.

Chartist

This is a person who is able to make meaning off historical data in a bid to determine trends, forecast future price actions and employ them in technical analysis.

Clearing

A means of settling a Handel.

Commission

A commission on a transaction, that’s charged by the broker.

Confirmation

A paper that participants exchange during a transaction confirming the terms of the stated transaction.

Contagion

The possibility that an economic crisis could diffuse within markets. For instance, Asia witnessed a contagion in 1997 when Thailand’s high volatility in its local currency spread across the region and other emerging East Asian currencies were affected. It even got as far as Latin America.

Contract (Unit or Lot)

This is the basic unit employed in trading on set exchanges.

Convertible Currency

A currency with the potential of free exchange amongst other currencies at rates offered by the market, or gold.

Cost of Carry

This is simply the charge linked with obtaining money in a bid to manage a position. This is dependent on interest parity, which defines the forward price.

Counter party

The counter party in any given transaction is the opposite party. For instance, the buyer is a counter party to the seller or vis-à-vis.

Country Risk

Excluding intervention from the country’s apex bank, this is the risk a forex Handelr faces in view of a possible government intervention in the market. This can be as a result of war or civil unrest.

Credit Checking

This is a routine validation carried put to ascertain if both parties have the credit to cover for the Handel they wish to initiate.

Cross Rates

The forex rate between two currencies. We refer to this as non-standard in the region or country where the forex pair is quotes.

Currency

This is a country’s legal exchange unit that is issued by the apex bank or the government, with its value forming the basis for Handel.

Currency Risk

The danger of drawing loss as a result of severe change in exchange rates.

Day Handelr

This is a speculator who initiates positions in commodities/forex and then exits these positions just before the close of the very trading day.

Day trading

Involves initiating and exit Handels within one day.

Deal

A deal defines Handel carried out at the most recent market price. It is a Handel that is live in the market against an order.

Dealer

A person or firm that fronts as a lead or counterpart to a transaction. Usually, leads assume one side of a position, with the hope of making a spread (gains) by exiting the position in an ensuing Handel with another party.

Dealing spread

It defines the difference between the buying and selling price in a prevailing contract.

Defend a level

Move carried out by an investor, or group of investors, to avoid an asset from trading at a certain price or price range, normally as a result of the particular interest they hold, as seen in barrier option.

Deficit

This is a minus Handel balance of payments.

Delisting

Taking off a stock’s listing on an exchange.

Delivery

This is the actual delivery of asset Handeld by both sides.

Delta

The ration between a product’s price alteration and the price alteration of its underlying market.

Depreciation

An asset decreases in value over a period.

Derivative

A financial agreement whose worth is dependent on the asset’s underlying value. Some of the most popular underlying assets for derivative contracts include currencies, commodities, equities and indices.

Devaluation

When a fixed currency is made to weaken or depreciate in accordance to official deeds: the direct opposite of revaluation.

Discount rate

This is interest rate that a qualified depository body is commissioned to obtain short term funds straight from the Federal Reserve Bank.

Divergence

This is a technical analysis term that describes a situation in which price and momentum go in opposite directions. Handelrs consider divergence as either positive (bullish) or negative (bearish), with both kinds alerting big moves in price movement. We experience bullish/positive divergence when the price of a security delivers a fresh low while the momentum indicator signals an upward push. The bearish/negative divergence occurs when a security’s price delivers a fresh high, while the momentum indicator signals a downward push.

Divergence of MAs

A technical examination that depicts moving averages of varying timeframes going away from each other, which basically predicts price trend.

Dividend

The earnings of a firm that’s shared to its shareholders.

DJIA or Dow

An acronym for the Dow Jones Industrial Average or US30.

Dove

This term is used in describing monetary policy that is easing or simply the lowering of interest rates. It is the direct opposite of hawkish.

Downtrend

This is price movement that is made up of lower-lows as well as lower-highs.

DXY$Y

An acronym for the US Dollar Index.

ECB

Stands for the European Central Bank, the apex bank for countries using the Euro currency.

Economic indicator

A statistic issued by government that describes the most recent economic stability and growth. Some of the indicators are employment rates, retail sales figures, inflation numbers, Gross Domestic Product (GDP), etc.

End of day order (EOD)

An order to purchase or sell at a defined price that stays open until the trading day’s end, which is at 5pm/17:00 New York.

EST/EDT

This is an acronym for United States Eastern Standard Time/Eastern Daylight time, which is the time zone for New York City.

ESTX50

An acronym for Euronext 50 Index.

EURO

Eurozone’s currency.

European Monetary Union (EMU)

This is an encompassing name for a league of policies that is geared towards organizing economic and fiscal policies across EU Member States.

European session

07:00 – 16:00 (GMT).

Eurozone labor cost index

This gauges the annualized rate of inflation in the reparation and profits paid to secular workers and is seen as a main propeller of overall inflation.

Expiry date / price

This is the exact date and time an option is billed to expire. There are two very important options expiry time, which is at 10:00am ET (also known as 10:00 NY time or NY cut) and 3:00pm Tokyo time (also known as 15:00 Tokyo time or Tokyo cut). The market experiences a spike in activity during these time periods.

Exporters

Firms that sells goods internationally, turning them into sellers of foreign currency and buyers of domestic currency. Firms like Sony, Samsung and Toyota, fit into this category.

Extended

Situation in which it the market is believed to have surged too far, too fast.

Federal Deposit Insurance Corporation (FDIC)

The regulatory agency that owns the right to administer bank depository insurance in the United States.

Federal Reserve (Fed)

The apex bank in the United States.

Fixed Exchange Rate

An approved exchange rate fix by financial authorities for a currency or more.

Fixed Interest

An unchanged interest rate during the term of the deal, as regards bonds or fixed-rate mortgages.

Flat (or Square)

A condition where one is neither short nor long.

Floating Rate Interest

An interest rate that changes in accordance to the market or benchmark rates, as seen in standard mortgage.

Foreign Exchange (or Forex or FX)

The concurrent buying of a currency and selling of another in the currency market.

FOREX

This usually means Foreign Exchange, where ‘FOR’ stands for foreign and ‘EX’ stands for exchange.

Forex Handelr

An individual or a firm that deals in the buying and selling of currencies, in a bid to make gains.

Forward

A deal that will kick off at a harmonized date in the future. Forward trading is quite flexible and can be arranged in line with the requirements of the two parties. It sure does not have a centralized exchange.

Forward Points

This is the number of pips subtracted from or added to the most recent forex rate to compute a forward price.

Front Office

Personnel in charge of sales and corporate finance at a financial body.

Futures

A trading style designed for financial instruments, forex or commodities for a specified price at a specified date in the future. Futures can be employed in speculating and safeguarding against an underlying assets future price.

G7

This is the group of seven nations, comprising of The United States, Germany, France, Canada, United Kingdom and Italy.

G8

This is the group of eight nations. They comprise of the G7 plus Russia.

Gap / Gapping

A fast market action in which prices leaps a couple of levels without Handels arising. Gaps are seen in the market after major economic data or news announcements.

GER30

This is an index of 30 top firms (in line with their market capitalization) as listed in the German Stock Exchange.

Given

This depicts selling interest.

GMT

Greenwich Mean Time – This is the most familiar time zone in the currency market.

Going long

A market term that entails the purchase of currencies, stocks or commodities for the purpose of investment or speculation – with an expectation of price spikes.

Going short

A market term that entails the selling of currencies, stocks or commodities for the purpose of investment or speculation – with an expectation of price dips.

Gold (Gold's relationship)

Gold is a commonly Handeld commodity and it is commonly accepted that its price moves in opposite to the price direction of the US dollar.

Good for day

This is an order that will expire at the day’s end if not filled

Good 'til cancelled order (GTC)

An instruction to buy or sell at a defined price that stays open until entered or until the customer deletes it.

Good ‘til date

An order type that is billed to expire on a chosen date, in case it is not entered beforehand.

Greenback

Another name for the United States Dollar.

Gross domestic product (GDP)

This is the entire worth of a country’s output, income or expenditure created within its physical actual borders.

Gross national product

This is the GDP added to income gotten from investment or work overseas.

Guaranteed order

This is an order type that safeguards the investor from market gapping. It a stop-loss order that promises to exit your position at the level you decide, in case the market to the point or beyond it.

Handle

Each 100 pips in the currency market starting with 000.

Hawk - hawkish

A monetary policy is said to be hawkish when it favors higher interest rates, in a bid to manage inflation or curb rapid economic growth.

Hedge

It is a position or set of positions that minimizes the danger of your main position.

Hit the bid

The process of selling at the current market bid.

HK40 / HKHI

It is a symbol used for describing the Hong Kong Hang Seng Index.

Illiquid

A condition in the market that is represented by little volume or lack of liquidity, often creating choppiness.

IMM

An acronym for International Monetary Market: a part of the Chicago Mercantile Exchange.

INDU

INDU is a short form for the Dow Jones Industrial Average.

Industrial Production Index

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

Inflation

This is an economic syndrome that’s characterized by rising prices of consumer goods, whilst wearing down purchasing power.

Initial margin requirement

The incipient deposit of collateral that’s needed to initiate an order.

IPO

This is short for Initial Public Offer – a private firm’s initial stock offerings to the public.

Interbank rates

These are large forex rates that are quoted between large international banks.

Interest

This is cash adjustment to show the effect of owing or getting the notional amount of equity of a position.

Intervention

The apex bank’s action to affect the currency value when it enters the market.

Introducing broker

An individual l or corporate firm which presents an account o broker for a commission.

INX

A symbol representing the S&P 500 Index.

ISM manufacturing index

An economic indicator that measures the state of the US manufacturing sector by scanning executives on forecast for future production, inventories, employment, new orders and deliveries. ISM figures above 50 depict expansion, while figures below 50 show contraction.

ISM non-manufacturing

An economic indicator that measures the services sector for their outlook, defining the remaining 80% of the American economy not detailed by the ISM Manufacturing Report. Generally, figures above 50 depicts an expansion, while those below 50 show contraction.

Japanese economy watchers survey

An economic indicator that measures business mood that serves consumers directly and they include waiters, drivers, and beauticians. Readings that are above 50, show an improvement in the sentiment.

Japanese machine tool orders

An economic indicator that measures the entire value of new orders placed with machine tool manufacturers. This is a measure of the demand for firms that manufacture machines, a leading indicator of industrial production going forward. A good data is a signal that there’s improvement in the manufacturing sector and also economic expansion.

JPN225

A short form for the NIKKEI Index.

Keep the powder dry

Limiting your Handels as a result of inclement trading conditions in the market. It is suitable to stay on the sideline until conditions are favorable, when the market is choppy or in an extremely narrow range.

Kiwi

Another name for the NZD/USD.

Knock-ins

An options strategy that demands the underlying asset to Handel at a particular price before option previously bought becomes active. Knock-ins are employed to minimize the cost of premiums of the underlying option and can trigger hedging activities on activating an option.

Knock-outs

These are the options that cancel an option that was previously bought if the underlying product Handels a particular level. The underlying option ceases to exist upon trading a knock-out level and any hedging present may have to be unwound.

LIBOR

This is short form for "London Interbank Offer Rate," which represents the interest rate that the biggest international banks will lend among themselves.

LIFFE

This is short form for "London International Financial Futures Exchange," which comprises three of the largest UK futures markets.

Limit Order

This is an order requesting to buy at or below a specified price, or sell at or above a specified price.

Liquid Markets

A market is said to be liquid if the spread between the bid and offer is small. Another measure of liquidity is the volume of buyers and sellers, with more players creating tighter spreads.

Liquid Assets

These are assets that can be changed into cash. For instance: bank deposits, US Treasury Bills, etc.

Liquidation

Closing a position that’s open by initiating an offsetting transaction.

Long

A market position characterized by buying an increasing worth of an asset than that being sold in anticipation of rising prices.

Macro

This is the longest-term investor that hinges his Handel on fundamental data. A ‘macro’ Handel can have its position holding period last from around 6-months to a couple of years.

Manufacturing production

An economic indicator that measures the entire output of the manufacturing component of the Industrial Production figures. The data has the capacity to measure around 13 sub sectors that directly relates to manufacturing – which makes up around 80% of the entire Industrial Production.

Margin

The necessary collateral needed for an investor to deposit to allow them hold a position.

Margin call

A call from a dealer or broker requesting more funds or other collateral that will enable a position stay afloat whilst it has gone against the Handelr.

Market capitalization

This is the complete value of a listed firm.

Market maker

This is a dealer that continually quotes in two ways (bid and ask) and is prepared to make a two-sided market on any financial asset.

Market order

A directive to buy or sell at the prevailing price.

Market risk

Dangers associated to changes in market prices.

Mark-to-market

This involves the re-assessment of all open positions in view of current market prices. Such values then define the margin requirements.

Maturity

The settlement date or expiry date of a financial asset.

Medley report

The Medley report is issued by the Medley Global Advisors, a renowned market consultant that manages close contacts with apex banks and government bodies across the globe. Their reports have the tendency of moving the currency markets, due to their ability to get insider information from policy makers. The market gives attention to this report in the short term, amidst its fluctuating accuracy over time.

MoM

This is an abbreviation for month over month, which signals the change in a data series when compared to the previous month’s gauge.

Momentum

A set of technical indicators that measures the rate of price change, for instance, RSI, MACD, Stochastic, etc.

Momentum players

Investors that position themselves to take 50-100 pips in the market, using intra-day trends.

NAS100

An acronym for the NASDAQ 100 index.

Net position

This is the volume of currency bought or sold which has not yet been equalized by opposite transactions.

New York session

8:00am – 5:00pm (New York time).

NYA.X

An acronym for the NYSE Composite Index.

Offer (also known as the Ask price)

The price at which the market is ready to sell an asset and are usually seen as quoted in two-ways; Bid/Offer. The Offer is also known as Ask.

Offered

When we refer to a market as trading ‘offered’, this signifies that a forex pair is drawing big huge selling interest, or offers.

Offsetting transaction

A position that cancels or offsets some or all of the risk associated with open orders in the market.

On top

Making effort to sell at the most recent market order price.

One cancels the other order (OCO)

The process of having two order whereby executing one of the orders, will mean an automatic cancelling of the other.

One touch

Paying a fixed amount to an option holder when the market touches the predefined Barrier Level.

Open order

An order that will be initiated when the market takes a turn to a specified price. The open order is usually linked to Good ‘till Cancelled Orders.

Open position

A live Handel with corresponding unaccounted profit and loss which has not been covered by an equal and opposite order.

Order

An instruction to initiate a Handel.

Over the counter (OTC)

His is employed in depicting any transaction that is not carried out via an exchange.

Overnight position

A position that stays open until the next business day.

Paid

This depicts the offer side of dealings in the market.

Pair

The standard forex quoting convention that matches a currency versus the other.

Paneled

A huge round of selling.

Parabolic

The movement of the market over a huge distance within a short span, normally moving in an accelerating manner that looks like one half of a parabola, with such moves either in upward or downward direction.

Partial fill

The execution of only a part of an order.

Patient

Lining up for certain levels, or news event to strike the market before initiating an order.

Personal income

A measure of an individual’s total yearly gross earnings gotten from wages, business enterprises and other investments. Personal income has a direct like to personal spending, which amounts to around 2.3% of the GDP of advanced economies.

Pips

The minutest unit of price for any given currency is called pips.

Political risk

Opening up to fluctuating policies by government, which may have a negative effect on Handelr’s positions.

Portfolio

An investment collection that an entity owns.

Position

An assets total net holdings.

Premium

The number by which the price of futures or forward exceeds the spot price.

Price transparency

Explains quotes to which market participants has unparallel access.

Profit

The selling price minus the cost price, knowing that the selling price is higher than the cost price.

Pullback

A pullback is a pause or moderate drop in a stock or commodities pricing chart from recent peaks that occurs within a continuing uptrend

Purchasing managers index (PMI)

This is an economic indicator that describes manufacturing firm’s performance within a country.

Quote

Price shown in the market employed for information purposes alone.

Quantitative easing

This is a process that entails injecting cash into an economy by the apex bank, with the goal of stimulating growth.

Quarterly

A future type with quarterly expiry dates.

Rate

The price of a currency in relation to another.

Re-purchase (or Repo)

Selling an instrument just to have it re-purchased at a given time and date.

Realized Profit/Loss

The resultant profit or loss from shares being sold.

Resistance

A widely used term in technical analysis to describe price level beyond which a currency is unable to pass. This pattern can be shaped into a straight line, when over time price fails to move beyond the point of resistance.

Risk

Exposure to unpredictable change.

Risk Capital

The amount of cash that an investor can afford to put in, even when lost, will not hamper his/her lifestyle.

Risk Management

Employing financial analysis along with trading techniques to hedge risk

Rollover

Variation in interest rate between two currencies during deal settlement that is rolled forward to another date.

Settlement

The process of finalizing a transaction.

Short Position

An investment order that originates from short selling.

Short Selling

Selling an asset without actually owning it in anticipation that there will be a decline in price, so that it can be bought back for future gains.

Spot

An instant transaction that depicts funds changing hands within two days after striking the deal.

Spot Price

The prevailing market price.

Spread

This is the difference between the bid and ask prices, and can be used in gauging the liquidity in the market. When we get narrow spreads, they are a signal for high liquidity.

Sterling

Another used to describe the Great Britain Pound.

Stop Order

An agreeable price in which an order can be bought or sold.

Support Levels

A technical analysis studies that describes a specified price point below which a currency is unable to go pass. Successive failure for price to go beyond that level will yield a pattern that can be shown using an approximate straight line.

Swap

The temporal holding of an asset, which is then exchanged after a specified time span. To compute swap, derive the interest rate differential between both currencies. Such values can be employed in speculative purposes in a bid to forecast interest rates movements.

Tick

Minutest price action.

Ticker

An instrument that is able to display historical and/or recent currency data in graph or table format.

Tomorrow Next (Tom/Next)

The concurrent buying and selling of a currency for the following day delivery.

Trading system

A designed tactics for trading the foreign exchange market.

Transaction Cost

The associated cost relating to buying and selling of a financial asset.

Transaction Date

The date in which the Handel was carried out.

Turnover

The volume executed over a defined period.

Two Way Price

A combination of the quoted bid and offer rates for a currency transaction.

Ugly

A way of depicting a market condition that is unforgiving, violent and quick.

UK100

Another name for the FTSE 100 index.

UK claimant count rate

A measure that shows the number of individuals claiming unemployment benefits. The figure tends to be lower than the unemployment data, because not all the unemployed are eligible for benefits.

UK jobless claims change

This is an economic indicator that measures the change in the number of individuals claiming unemployment benefits over the preceding month.

UK OIL*

Another name for Brent Crude Oil.

Underlying

The real Handeld market from where a product’s price is gotten.

Unemployment rate

This figure gauges the entire workforce that is unemployed and vigorously seeking employment. It is measured as a percentage of the work force.

Uptick

A unique price quote at a price above the previous quote.

US30

Another name for the Dow Jones Index.

US OIL*

Another name for WTI Crude Oil.

US prime rate

The interest rate issued by US banks to their prime corporate clients.

Value date

This is also referred to as the maturity date, which is the date in which counterparts to a financial transaction conform to sort-out their respective obligations, like payments exchanges.

Variation margin

Funds that is necessary for investors to hold in their account to have the necessary margin to subsist with fluctuations in the market.

Volatility

These are active markets that usually offer Handel opportunities.

Volume

The value of securities exchanged during a definite period.

Warrants

A kind of Handeld options; offering rights to buy shares or bonds issued by a firm at a definite price within a definite timeframe.

Whipsaw

This is a word used in describing a highly volatile market where a sharp price action is immediately followed by a sharp reversal.

Working order

A situation where the limit order has been called but yet to be filled.

WSJ

An abbreviation for The Wall Street Journal.

XAG/USD

A symbol in the market for Silver Index.

XAU/USD

A Symbol in the market for Gold Index.

XAX.X

A Symbol in the market for AMEX Composite Index.

Yard

Defines a billion units.

Yield

The return from an investment, expressed in percentage.

YoY

A symbol for Year over year.

Yuan

The Chinese base unit currency. The currency is called the Renminbi, while the base unit is called the Yuan.