Understanding Forex Quotes

Reading a foreign exchange quote may seem a bit confusing at first. However, it's really quite simple if you remember two things: 1) The first currency listed first is the base currency and 2) the value of the base currency is always 1.

The US dollar is the centerpiece of the Forex market and is normally considered the 'base' currency for quotes. In the "Majors", this includes USD/JPY, USD/CHF and USD/CAD. For these currencies and many others, quotes are expressed as a unit of $1 USD per the second currency quoted in the pair. For example, a quote of USD/JPY 110.01 means that one U.S. dollar is equal to 110.01 Japanese yen.
When the U.S. dollar is the base unit and
a currency quote goes up, it means the dollar has appreciated in value and the other currency has weakened. If the USD/JPY quote we previously mentioned increases to 113.01, the dollar is stronger because it will now buy more yen than before.

The three exceptions to this rule are the British pound (GBP), the Australian dollar (AUD) and the Euro (EUR). In these cases, you might see a quote such as GBP/USD 1.7366, meaning that one British pound equals 1.7366 U.S. dollars.

In these three currency pairs, where the U.S. dollar is not the base rate, a rising quote means a weakening dollar, as it now takes more U.S. dollars to equal one pound, euro or Australian dollar.

In other words, if a currency quote goes higher, that increases the value of the base currency. A lower quote means the base currency is weakening.

Currency pairs that do not involve the U.S. dollar are called cross currencies, but the premise is the same. For example, a quote of EUR/JPY 127.95 signifies that one Euro is equal to 127.95 Japanese yen.

When trading forex you will often see a two-sided quote, consisting of a 'bid' and 'ask':

The 'bid' is the price at which you can sell the base currency (at the same time buying the counter currency).
The 'ask' is the price at which you can buy the base currency (at the same time selling the counter currency).

Introduction to the Forex Market

The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$1.9 trillion.

"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).

There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation.

For speculators, we believe the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.

A true 24-hour market from Sunday 5:00 PM ET to Friday 5:00PM ET, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.

The FX market is considered an Over The Counter (OTC) or 'interbank/interdealer' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.

Mesothelioma Clinic

What is the UAB Mesothelioma Clinic?

The UAB Mesothelioma Clinic is a component of the UAB Comprehensive Cancer Center, which provides complete care for mesothelioma patients, including diagnosis, treatment and supportive care services. The Clinic is committed to improving the outlook for mesothelioma patients through novel clinical trials and the education of patients about the disease. The Mesothelioma Clinic Director, Francisco Robert, M.D., is a Medical Oncologist with specific expertise in the diagnosis and treatment of lung cancer and mesothelioma.

What does the Mesothelioma Clinic provide?

Dr. Robert has a team of Cancer Center staff with expertise in surgery, radiation therapy, pathology, radiology, social services, and nursing who are available to provide their special expertise as appropriate. Dr. Robert provides the initial patient assessment and consultation with appropriate review of pathology slides and x-rays, confirmation of the diagnosis, selection of additional studies if needed and recommendations for treatment and supportive care. Depending on the extent of disease and the patient's general health, treatments may include surgery, radiation and/or chemotherapy. It is important that patients consider participating in a clinical trial, which may make additional treatments available. Supportive care may be an important component in the management of mesothelioma patients.

What is Mesothelioma?
Mesothelioma is an aggressive form of cancer in which cells of the mesothelium (the membrane that covers and protects most of the internal organs) become abnormal, form tumors and grow without control or order. The disease usually affects the surface of the lung or less commonly the lining of the abdomen. The disease is relatively uncommon, with 2,500 to 3,000 new cases diagnosed in the United States each year.

Are new treatments for mesothelioma being studied?


Yes. During the past five years researchers have gained many new insights about mesothelioma. One promising drug is Alimta (Pemetrexed), an experimental drug that has shown promise in treating advanced mesothelioma. Because mesothelioa is difficult to control, many new treatment strategies are being studied. UAB Comprehensive Cancer Center scientists are examining several different approaches in the laboratory, including: -Developing new drugs that slow the growth and spread of mesothelioma cells. -Creating a vaccine to stimulate the immune system to attack mesothelioma tumors. -Exploring gene therapy strategies for treatment. After further study, these approaches will be developed into clinical trails to investigate whether the treatment is safe and effective for patients. The UAB Mesothelioma Clinic and the UAB Comprehensive Cancer Center currently have clinical trials for the treatment of mesothelioma. It is important that Cancer Center doctors see patients soon after diagnosis to enable them to develop the best treatment plan.

Are there specific risk factors for developing mesothelioma?
Working with asbestos is the major risk factor for mesothelioma. Approximately 80% of mesothelioma is associated with asbestos exposure - specifically occupational asbestos exposure. However, the disease has been reported in some individuals without any known exposure to asbestos.

Contact Information
If you have been diagnosed or are suspected to have mesothelioma and would like to make an appointment at the UAB Mesothelioma Clinic, call (205) 934-5077.

Why CBS full time MBA

About Copenhagen Business School



Copenhagen Business School (CBS) was founded in 1917 to meet the business sector demandfor highly qualified people, and today it is the leading graduate business school in Northern Europe. With its broad academic profile, innovation as a special focus area and close partnerships with the business community, CBS plays a powerful role in developing the knowledge society.
At the heart of Entrepreneurship and Innovation
The recent rapid economic growth in Denmark is attributed to very vibrant entrepreneurial activities and focus on innovation - the ability to commercialize innovative ideas. The business side of innovation is central to CBS. It is reflected in its research, teaching and corporate partnerships.

The creative aspects of management are attracting increasing attention, reflected in the establishment of the Center for Art and Leadership, for example, and the many new initiatives launched on the themes of design, culture and the economics of experience.

Through its collaboration with the science parks and innovation environments Symbion in Copenhagen, CAT (Center for Advanced Technology) and Technology Innovation, CBS works domestically and internationally to support the transfer of knowledge and to promote innovation and their commercialization.

Developing Competencies for the Future
We believe that managers can only create true value for their companies when their management knowledge is leveraged by personal competencies. Developing competencies - skills development - should be seen as a natural part of the quality assurance of CBS' programs. Leadership is a key component in the full-time MBA Program. Action learning is gaining ground as a learning principle, with concrete projects in partnership with companies, supplementing core theoretical studies.

International Quality Marks
In addition to EQUIS accreditation, CBS received its first international quality mark as early as in 1996 through a CRE-Audit and again in 1998 at a CRE-Follow-up. The focus of this quality mark was placed on CBS' strategic efforts, our quality assurance mechanisms and preparedness for change.

CEMS - Community of European Management Schools - is another example of a quality mark. CBS is the Danish member of this community of recognized European universities, which only accepts one member from each country; in addition to these universities, CEMS has approximately 50 corporate partners. In 2002, the European Commission nominated the CEMS alliance and the joint efforts on the MIM program - Master in International Management - as 'best practice' examples of collaboration on postgraduate programs in the area of Economics and Business Administration.

CBS is also a member of PIM - Partnership in International Management - a corresponding international consortium of prestigious business schools.

Ellis College MBA

Ellis College MBA offers a unique online MBA degree program for professionals just like you. Drawing from leading business schools such as Columbia Business School, Stanford University, University of Chicago`s Graduate School of Business, Carnegie Mellon University, and the London School of Economics and Political Science, Ellis College MBA has created an award winning curriculum designed to help you learn to solve real world business problems.FMU - Florida Metropolitan