This is just a sample of some of the more liquid derivatives based on the currencies above:
EUR/USD
USD/JPY
AUD/USD
GBP/JPY
EUR/CHF
CHF/JPY
As you can see from these lists, the currencies that we can easily trade span the entire globe. This means that you can handpick the currencies and economic releases to which you pay particular attention. But, as a general rule, since the U.S. dollar is on the “other side” of 90% of all currency trades, U.S. economic releases tend to have the most pronounced impact on the market.
I also love the GBP/USD because of it’s liquidity and the size of the moves it makes. The 2 - 4 pip spread (Oanda) is not a problem at all because it can move 80 pips in the blink of an eye.
I agree. This is my primary trading currency because of its potential daily large move. You can also take a look at this currency’s daily ATR value which is > 100 pips. My only hurdle with this pair is that I can’t be awake at 3AM when london session opens.