Forex quotes are used by currency brokers to post bid and ask prices for the current spot market rates. These rates are in turn used by traders, speculators and hedgers. For one to use these quotes one has to understand the usage of these spot quotes.

There are several components of a currency spot market quote. First there is the currency pair which consists of the base currency and the counter currency. With the pair there are two types of quotes: direct and indirect.

There was instability of US dollar in 2008. It fell and rose unpredictably in 2008. According to Kathy Lien, there are some concerns about US dollar movement in 2009. First is that the US economy is predicted to hit bottom in 2009.” Non-farm payrolls declined by 533k in November, sending the unemployment rate to a 15 year high of 6.7 percent. With many US corporations forced to tighten their belts, the unemployment rate could rise as high as 8 percent. We expect this to happen because over the past 50 years on average, recessions have boosted the unemployment rate by 2.8 percent.