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The industry’s
most important terms explained.

Discover a wealth of financial terms and definitions that every trader should know.

Forex Glossary

E

Eurozone Organization for Economic Co-operation and Development (OECD) Leading Indicator

A monthly index produced by the OECD. It measures overall economic health by combining ten leading indicators including: average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads.

European Central Bank (ECB)

The central bank for the euro and administers monetary policy of the Eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world.

EURO

The official currency of the Eurozone, which consists of 19 of the 28 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

European Monetary Union (EMU)

The principal goal of the EMU is to establish a single European currency called the Euro, which has gradually replaced the national currencies of most of the EU countries since 2002. The Euro has been adopted by 19 EU member states.

End Of Day Order (EOD)

An order to buy or sell at a specified price. This order remains open until the end of the trading day which is typically 5PM ET.

Economic Indicator

A government issued statistic that indicates current economic growth and stability. Common indicators include employment rates, Gross Domestic Product (GDP), inflation, retail sales, etc.