March 30, 2022 05:33 PM
USD/CNH overview
Overview
Costs
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USD/CNH is the forex ticker between the Chinese yuan and the USD dollar. It tells traders how many yuan it would take to buy a single US dollar.
The yuan is the offshore Chinese currency, but when its traded domestically it’s listed as the Chinese renminbi (CNY). CNH is not as tightly controlled as CNY by the Chinese government, but it has still been kept low against the US dollar to keep Chinese exports competitive.
Despite artificial control, the exchange rate between the two largest global economies is often volatile due to the growing tensions between the US and China.
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Trading Hours24 hours / day *
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Min Trade Size1
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Min Stop Distance0.0 Points
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Guaranteed Order Minimum100.0 Points
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Spreads
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Spreads From0.00078 Points
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Dealing
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Spreads0.00078 Points
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Guaranteed Order Min Distance100.0 Points
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October 6, 2021 02:29 PM
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USD/CNH Forex explained
When is the forex market open for trading?
The forex market is open for trading 24-hours a day from 10pm (UTC) on Sunday to 10pm (UTC) on Friday. That means with FX, you can build your trading strategy around your schedule, instead of having to conform to when a stock exchange is open.
However, there are times when the market is much more active, and times when it is comparatively dormant. To learn the best times to trade forex, read our dedicated page.
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Where is forex traded?
Forex is traded via a global network of banks in what’s known as an over-the-counter market – unlike shares and commodities, which are bought and sold on exchanges. Because of this, you can trade forex 24-hours a day.
FX trading is split across four main ‘hubs’ in London, Tokyo, New York and Sydney. When banks in one of these areas close, those in another open, which is what facilitates round-the-clock trading.
However, there’s no physical location where these banks and individuals trade with each other. Instead, it is entirely online.
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Why do people trade currencies?
People trade currencies for lots of different reasons. You’ve probably traded a currency if you’ve ever bought goods overseas, for example, or gone on a foreign holiday. However, the vast majority of FX trading is done for profit.
Currencies are constantly moving in value against each other. On any given day, the pound might be rising against the dollar, while the euro falls against the Swiss franc. Forex traders buy and sell currency pairs to try and take advantage of this volatility and earn a return.
For instance, if the pound is rising against the dollar, you might buy GBP/USD. When you buy this pair, you’re buying pound sterling (GBP) by selling the US dollar (USD). Then, if the pound continues to outpace the dollar, you can sell the pair to exchange your GBP back for USD and keep the difference as profit.
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