The spread affects profit given that a currency pair reveals information about market conditions such as time, volatility and liquidity. For instance, emerging currency pairs have a greater spread than major currency pairs. Currency pairs involving major currencies have lower spreads. Traders should also consider peak trading times for particular currencies. For instance, the cost of trading the Australian Dollar (AUD) will be higher during nighttime in Australia. This is as there are not as many market participants actively trading at this time. Similarly, other Australian financial markets that may influence forex are also closed at this time. A wider currency pair spread means that a trader would pay more when buying and receive less when selling.