Parity in the currency trading market (Forex Market) is when two currencies have an equal value, which means that the exchange rate between the two currencies is exactly 1 to 1.
A Pending Order also known as a Working Order is a general term for Stop Orders and Limit Orders like Buy Stops, Sell Stops, Buy Limits and Sell Limits. These Pending Orders are triggered when the market reaches the prices the Pending Order is set to trigger at.
Pip is an acronym for Percentage in Point. It is a unit of measure for currency rate fluctuations. For most currency pairs the Pip is represented by the 4th decimal in the quote. There are some exceptions though. The Japanese Yen currency pairs being the most notable one of these exceptions. In Japanese Yen currency pairs, the Pip is quoted on the 2nd decimal. Other exceptions are the Czech Krona, Hungarian Forint and Russian Rubble where the Pip is quoted on the 2nd and 3rd decimals.
A purchasing managers index (PMI) is an economic index that reflects the direction of economic trends in the manufacturing and services sectors.