From EUR/USD to NZD/USD, dimensional walkthrough of every major pair: drivers, characteristics, best hours.
The major pairs usually mean EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD and NZD/USD. They have deep liquidity, tighter spreads and clearer macro drivers, so they are the best starting point for learning FX.
EUR/USD follows the Fed, ECB, inflation and rate differentials. GBP/USD is usually more volatile and reacts to Bank of England and UK macro data. USD/JPY is sensitive to US yields, Bank of Japan policy and safe-haven demand. USD/CHF can behave as a defensive pair. AUD/USD links to commodities, China demand and Australian rates. USD/CAD reacts to oil, Bank of Canada policy and broad USD cycles. NZD/USD has thinner liquidity and can move sharply with risk sentiment.
London and New York overlap usually gives the best liquidity. Asian hours are more relevant for USD/JPY, AUD/USD and NZD/USD. Around data releases, check not only spread but also slippage, rejection and margin changes.
Track only two or three pairs first. Record spread, volatility, news timing and your mistakes. Trading all seven pairs is usually attention dilution, not real diversification.