By Francesca Taylor
The floating alternate cost atmosphere has created a necessity for banks and their company shoppers to rearrange their foreign money publicity on an lively and advertisement foundation. This publication addresses present perform and destiny concerns and is written for either new entrants into the markets and for pro execs looking to refresh or increase their wisdom. The publication covers matters akin to: an intensive new payment approach for FX should be going dwell within the third area - named non-stop associated cost or CLS for brief, foreign currency Portals Atriax and FXAII, digital dealer EBS, The elevated profile of the spreadbetting enterprises within the FX markets e.g. IG Index, rising Markets, and New unique foreign money techniques.
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Additional info for Mastering foreign exchange & currency options
Sample text
In the beginning was purchasing power parity ... And then there were deposits FX rates with a full range of assets Are forward rates forecasts? Relative interest rates A few words on technical analysis What moves exchange rates – economic news and statistics? What moves exchange rates – politics? What moves exchange rates – intervention? What moves exchange rates – sentiment and rumours? Why do exchange rates matter? 31 1036PE_Chapter_04 1/5/03 10:54 am Page 32 An exchange rate is determined by the interplay of supply and demand.
A spot interbank dealer has a profit horizon of only a few minutes, an institutional investor will be judged by performance over months, while a corporate treasurer may simply have a mandate from the company to cover its currency requirements as and when they arise. In this case the corporate treasurer’s activities may not even be regarded as being those of a profit centre. Over recent years a new development in the market has been the growth of socalled ‘hedge funds’. Such funds use computer-generated technical models to seek profits in any financial market and as such have become important ‘movers and shakers’ in the foreign exchange market.
8 1036PE_Chapter_02 1/5/03 10:49 am Page 9 2 Background and development of the foreign exchange market Francesca Taylor, Taylor Associates Introduction Market participants Some basic definitions and questions How foreign exchange affects the economy The role of the central banks 9 1036PE_Chapter_02 1/5/03 10:49 am Page 10 The recent survey conducted by the BIS shows a general decline in the volume of foreign exchange traded globally, but estimates that the average daily figure still remains in excess of ...