金融专业英语-Foreign Exchange-外汇

income; and ➢ The use of leverage* to enhance profit and loss margins and with respect to
account size.
8.2.3 Determinants of exchange rates
➢ Economic factors include: ①economic policy, disseminated by government agencies and central banks, ②economic conditions, generally revealed through economic reports, and other economic indicators.
8.1.1 Quotations
➢ A foreign-exchange rate (also known as an exchange rate, Forex rate, FX rate or Agio*) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency.
8.1.4 Fluctauations in exchange rates
➢ A market-based exchange rate will change whenever the values of either of the two component currencies change. A currency will tend to become more valuable whenever demand for it is greater than the available supply. It will become less valuable whenever demand is less than available supply.
8.1.3 Exchange rate regime
➢ Each country, through varying mechanisms, manages the value of its currency. As part of this function, it determines the exchange rate regime* that will apply to its currency. For example, the currency may be free-floating, pegged or fixed, or a hybrid.
8.1.1 Quotations：direct quotation，indirect quotation
8.1.2 Bilateral vs. effective exchange rate 8.1.3 Exchange rate regime：the currency may be free-floating, pegged or fixed, or a hybrid. 8.1.4 Fluctuations in exchange rates
8.2.4 Forex signals
➢ Forex trade alerts, often referred to as Forex Signals are trade strategies provided by either experienced traders or market analysts. These signals which are often charged a premium fee for can then be copied or replicated by a trader to his own live account. Forex signal products are packaged as either alerts delivered to a user's inbox or SMS, or can be installed to a trader's trading platforms.
金 融 专 业 英语
Part TБайду номын сангаасree
Financial Instruments and Foreign Exchange
Contents
7
8
9
Securities
Foreign Exchange
Futures & Options
8 Foreign
Chapter
Exchange
Chapter 8 Foreign Exchange
Section 8.3 Foreign Exchange Operation
8.3.2 Forward
2
8.3.1 Spot or Foreign exchange spot
1
8.3.3 Swap
➢ Its huge trading volume representing the largest asset class in the world leading to high liquidity;
➢ The variety of factors that affect exchange rates; ➢ The low margins of relative profit compared with other markets of fixed
Key Topics
Key Topics
1 Foreign Exchange Rate; 2 Quotation of foreign exchange rate; 3 Effective exchange rate; 4 Foreign exchange spot; 5 Foreign exchange forward; 6 Foreign exchange swap; 7 Foreign exchange option; 8 Foreign exchange risk.
Section 8.2 Foreign Exchange Market
8.2.1 Market participants
8.2.2 Characteristics
Market
8.2.3 Determinants of exchange rates
8.2.4 Forex signals
8.2.1 Market participants
Text
Section 8.1 Foreign
Exchange Rate
Section 8.2 Foreign
Exchange Market
Text Contents
Section 8.3 Foreign Exchange Operation
Section 8.4 Foreign Exchange Exposure
8.2.2 Characteristics
➢ Its continuous operation: 24 hours a day except weekends, i.e., trading from 22:00 GMT* on Sunday (Sydney) until 22:00 GMT Friday (New York);
➢ A nominal effective exchange rate (NEER)* is weighted with the inverse of the asymptotic trade weights.
➢ A real effective exchange rate (REER)* adjusts NEER by appropriate foreign price level and deflates by the home country price level.
➢ Direct quotation. ➢ Indirect quotation.
8.1.2 Bilateral vs. effective exchange rate
➢ Bilateral exchange rate* involves a currency pair, while an effective exchange rate is an index that describes the relative strength of a currency relative to a basket of other currencies,[3] and it can be viewed as an overall measure of the country's external competitiveness.
章节结构
1
Learning Objectives
（学习目标）
2
Key Topics （关键点）
4
Notes （课文注释）
5
Exercises （课后练习）
3
Text （阅读课文）
6
Additional Readings （扩展阅读）
Learning Objectives
1
Understand the conception of Foreign Exchange Rate and effective exchange rate;
5 Learn the characteristics of foreign exchange market;
6
Master the main characteristics of different foreign exchange operations;
7
Master the main types of foreign exchange exposure.
2 Master the quotation of Foreign Exchange Rate;
3 Understand Fluctuations in exchange rates;
4 Master the main participants to foreign exchange market;
➢ Political conditions internal, regional, and international political conditions and events can have a profound effect on currency markets.
➢ Market psychology and trader perceptions influence the foreign exchange market in a variety of ways.
• Foreign exchange bank • Commercial companies • Central banks • Hedge funds as speculators • Investment management firms • Retail foreign exchange traders • Non-bank foreign exchange companies
➢ The quotation* is a currency pair in which the relative value of a currency unit against the unit of another currency in the foreign exchange market.
The global foreign exchange trading hours
The global foreign exchange trading hours
The global foreign exchange trading hours
Section 8.1 Foreign Exchange Rate