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Dissertations / Theses on the topic 'FOREX EXCHANGE'
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1
Cheng, Sai-ho. "Rolling Forex /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19909135.
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Jain, Akansha, and Svitlana Denga. "Volatility on forex exchange of India." Thesis, PUET, 2015. http://dspace.puet.edu.ua/handle/123456789/2852.
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Exchange rate movements play substantial role in risk measurement and their effective management. Volatility in exchange rates has been quite large and it has affected sales as well as profit margins of multinationals in India. Based on statistic analysis, some suggestion have been drawn for improving functioning of forex exchange market in India.1. Most hedging instruments are required to cope up extreme volatility of INR against all major currencies of the world. 2. Steady liberalization of financial markets is need more attention on business who invest back in India. 3. Promotion of invoicing of trade in domestic currency will be extremely helpful and beneficial to cope up with extreme volatility. 4. There has been wide progress and enhancement of INR market across globe especially in Dubai, Singapore, London and New York, so it is need to try relocate of offshore activities on shore. 5. RBI has taken a number of steps in the recent past to liberalize currency futures market to obviate/reduce the need for the NDF market. 6. There is need for effective coalition between OTC and exchange traded markets for currency futures. 7. More focus should be to advocate the importance and practicability of risk management techniques in particular using options. 8. There is need to develop strict monitoring mechanism by liberalizing open position limits of banks.
3
Cheng, Sai-ho, and 鄭世河. "Rolling Forex." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31268663.
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Polnický, Martin. "Psychologie investora na trhu FOREX." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-198619.
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In the introduction, this dissertation about "Psychology of an investor on the Forex market" introduces to the reader the prerequisites for trading on the foreign exchange market. On a theoretical level, it deals mostly with fundamental, technical as well as psychological analysis of prediction of development of exchange rates on the Foreign Exchange Market. Theoretical part also includes an outline of basic criteria for choosing a Forex broker and introduction of a trading platform. Practical part of the dissertation focuses on comparing and choosing a broker, plus the process for opening a real trading account; creating a trading plan and strategy, which will be used to apply different tools and indicators of technical analysis of inter-day trading of EUR/USD pair. In the conclusion, trading system created by myself is evaluated and psychological phenomenon affecting investors' decision-making during real Forex trading. This dissertation deals only with Spot Forex market, because trading through FX brokers is done on the Spot market.
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Giačienė, Dovilė. "Investicijų Forex rinkoje ekonominė analizė ir pagrindimas." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2013. http://vddb.laba.lt/obj/LT-eLABa-0001:E.02~2013~D_20130211_142858-19480.
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Magistro darbe yra analizuojama: techninės analizės praktinis pritaikymas Forex rinkoje, rizikos įvertinimas ir portfelio sudarymas. Pagrindinis darbo tikslas ištirti investicijas Forex rinkoje ir jas pagrįsti naudojant investicijų ekonominę analizę. Darbe išnagrinėti pagrindiniai indikatoriai: slankiųjų vidurkių divergencija konvergencija, Bolingerio ribos, santykinis stiprumas, stochastikas. Šiais indikarotiais nustatyti pagrindiniai signalai ir apskaičiuotas pelnas punktais. Taip pat apskaičiuota kiekvienos valiutos rizika, su kuria susiduria kiekvienas investuotojas. Norint gauti maksimalų pelną buvo sudarytas Markowitz portfelis.This master's work is analyzing: practical application of technical analysis in the Forex market, risk assessment and creating portfolio. The main goal of the work is to explore the investments in Forex market and to substantiate them using investment economic analysis. The main indicators are analyzed in the work: Moving Average Convergence/Divergence, Bollinger bands, Relative Strength Index, Stochastic oscillator. These indicators identify the key signals and the estimated gain points. Also was calculated the risks of each currency faced by each investor. In order to get the maximum profit was made Markowitz portfolio.
6
Song, Yupu. "A Forex Trading System Using Evolutionary Reinforcement Learning." Digital WPI, 2017. https://digitalcommons.wpi.edu/etd-theses/1240.
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Building automated trading systems has long been one of the most cutting-edge and exciting fields in the financial industry. In this research project, we built a trading system based on machine learning methods. We used the Recurrent Reinforcement Learning (RRL) algorithm as our fundamental algorithm, and by introducing Genetic Algorithms (GA) in the optimization procedure, we tackled the problems of picking good initial values of parameters and dynamically updating the learning speed in the original RRL algorithm. We call this optimization algorithm the Evolutionary Recurrent Reinforcement Learning algorithm (ERRL), or the GA-RRL algorithm. ERRL allows us to find many local optimal solutions easier and faster than the original RRL algorithm. Finally, we implemented the GA-RRL system on EUR/USD at a 5-minute level, and the backtest performance showed that our GA-RRL system has potentially promising profitability. In future research we plan to introduce some risk control mechanism, implement the system on different markets and assets, and perform backtest at higher frequency level.
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Šebek, Jiří. "Na fundamentech založená obchodní strategie pro forex." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224715.
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This thesis deals with design of Forex trading strategy. The main goal is to achieve satisfying trading results with strategy based on fundamental and technical analysis. This paper provides brief introduction into the International Interbank Foreign Exchange and describes basic principles of both technical and fundamental analysis. The most important part of this thesis contains the design of trading strategy and description of its implementation. Also the verication of suitability of designed strategy for Forex trading is involved.
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Cibula, Peter. "Návrh automatizovaného obchodního systému na bázi trendových ukazatelů a oscilátorů." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224712.
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This thesis deals with the implementation of the software for automated stock trading based on trend indicators and oscillators. It describes the various signals that are provided by formations in charts and technical indicators, but also the possibility of using advanced artificial intelligence methods. This document describes entire development process of the software from individual parts to the folding of these parts into one system. It focuses on the optimization processes of individual parts, as well as a complete system. This thesis also deals with the testing of the system on historical data and its application on the latest data. It introduces the future plans, deployment options to the real market and its further improvement in order to develop ideal business system capable of autonomous thinking and trading.
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Manevski, Bojan. "Theory and Practice of Management of Foreign Exchange Exposure." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-10837.
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This academic paper gives explanation the main points of the foreign exchange market and the FOREX risk management strategies that companies develop. Reading trough this paper we get a clear overview of the Foreign Exchange market, the main players and their function. Get a detailed picture of the Exchange rate system, its development and current status; Hedging strategies and the central roll they have in the foreign exchange risk management of companies.
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Balog, Miroslav. "Predikce vývoje pohybu kurzu na forexu." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2015. http://www.nusl.cz/ntk/nusl-225121.
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The thesis deals with the possibility of prediction of the exchange rate on forex. The combination of Elliott wave principle and Fibonacci numbers examines to what extent and in what time periods it is possible to predict exchange rate. The thesis use fundamental analysis and MACD oscillator to confirm the accuracy of this prediction.
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Atiah, Frederick Ditliac. "Dynamic multi-objective optimization for financial markets." Diss., University of Pretoria, 2019. http://hdl.handle.net/2263/79571.
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The foreign exchange (Forex) market has over 5 trillion USD turnover per day. In addition,
it is one of the most volatile and dynamic markets in the world. Market conditions
continue to change every second. Algorithmic trading in Financial markets have received
a lot of attention in recent years. However, only few literature have explored the applicability
and performance of various dynamic multi-objective algorithms (DMOAs) in the
Forex market. This dissertation proposes a dynamic multi-swarm multi-objective particle
swarm optimization (DMS-MOPSO) to solve dynamic MOPs (DMOPs). In order to
explore the performance and applicability of DMS-MOPSO, the algorithm is adapted for
the Forex market. This dissertation also explores the performance of di erent variants
of dynamic particle swarm optimization (PSO), namely the charge PSO (cPSO) and
quantum PSO (qPSO), for the Forex market. However, since the Forex market is not
only dynamic but have di erent con
icting objectives, a single-objective optimization
algorithm (SOA) might not yield pro t over time. For this reason, the Forex market was
de ned as a multi-objective optimization problem (MOP). Moreover, maximizing pro t
in a nancial time series, like Forex, with computational intelligence (CI) techniques is
very challenging. It is even more challenging to make a decision from the solutions of a
MOP, like automated Forex trading. This dissertation also explores the e ects of ve decision
models (DMs) on DMS-MOPSO and other three state-of-the-art DMOAs, namely
the dynamic vector-evaluated particle swarm optimization (DVEPSO) algorithm, the
multi-objective particle swarm optimization algorithm with crowded distance (MOPSOCD)
and dynamic non-dominated sorting genetic algorithm II (DNSGA-II). The e ects
of constraints handling and the, knowledge sharing approach amongst sub-swarms were
explored for DMS-MOPSO. DMS-MOPSO is compared against other state-of-the-art
multi-objective algorithms (MOAs) and dynamic SOAs. A sliding window mechanism
is employed over di erent types of currency pairs. The focus of this dissertation is to
optimized technical indicators to maximized the pro t and minimize the transaction
cost.
The obtained results showed that both dynamic single-objective optimization (SOO)
algorithms and dynamic multi-objective optimization (MOO) algorithms performed better
than static algorithms on dynamic poroblems. Moreover, the results also showed that
a multi-swarm approach for MOO can solve dynamic MOPs.Dissertation (MEng)--University of Pretoria, 2019.
Computer Science
MSc
Unrestricted
12
Ondo, Ondrej. "Návrh a optimalizace automatického obchodního systému." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224709.
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This thesis focuses on automated trading systems for foreign exchange markets. It describes theoretical background of financial markets, technical analysis approaches and theoretical knowledge about automated trading systems. The output of the thesis is set of two automated trading systems built for trading the most liquid currency pairs. The process of developing automated trading system as well as its practical start up in Spartacus Company Ltd. is documented in the form of project documentation. The project documentation captures choosing necessary hardware components, their installation and oricess of ensuring smooth operation, as well as the selection and installation of the necessary software resources. In the Adaptrade Builder enviroment there has been shown the process of developing strategies and consequently theirs characteristics, performance, as well as a graph showing the evolution of the account at the time. Selected portfolio strategy has been tested in the MetaTrader platform and in the end of the thesis is offered assessing achievements and draw an overall conclusion.
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Dekýš, Marek. "Návrh automatického obchodního systému na měnových trzích s využitím breakout strategie." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2015. http://www.nusl.cz/ntk/nusl-224982.
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This thesis addresses the analysis and design of automatic trading system on currency markets using breakout strategy for capital appreciation for company ALFA – zdravá výživa. The description of implementation of this strategy on chosen trading platform and its summary will represent an output of this thesis.
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Rozsnyó, Tomáš. "Modular Multiple Liquidity Source Price Streams Aggregator." Master's thesis, Vysoké učení technické v Brně. Fakulta informačních technologií, 2012. http://www.nusl.cz/ntk/nusl-236492.
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This MSc Thesis was performed during a study stay at the Hochschule Furtwangen University, Furtwangen, Germany. This Master Project provides a theoretical background for understanding financial market principles. It focuses on foreign exchange market, where it gives a description of fundamentals and price analysis. Further, it covers principles of high-frequency trading including strategy, development and cost. FIX protocol is the financial market communication protocol and is discussed in detail. The core part of Master Project are sorting algorithms, these are covered on theoretical and practical level. Aggregator design includes implementation environment, specification and individual parts of aggregator application represented as objects. Implementation overview can be found in last Chapter.
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Olejník, Tomáš. "Zpracování obchodních dat finančního trhu." Master's thesis, Vysoké učení technické v Brně. Fakulta informačních technologií, 2011. http://www.nusl.cz/ntk/nusl-412828.
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The master's thesis' objective is to study basics of high-frequency trading, especially trading at foreign exchange market. Project deals with foreign exchange data preprocessing, fundamentals of market data collecting, data storing and cleaning are discussed. Doing decisions based on poor quality data can lead into fatal consequences in money business therefore data cleaning is necessary. The thesis describes adaptive data cleaning algorithm which is able to adapt current market conditions. According to design a modular plug-in application for data collecting, storing and following cleaning has been implemented.
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Kušnírová, Jana. "Analýza vplyvu fundamentálnych správ na pohyby menových kurzov." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-201626.
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The Diploma Thesis deals with influence of announcing economic indicators on currency exchange rate AUD/USD. The Thesis focuses on fundamental news announced in Australia, USA and China, as these play a significant role in forming of analyzed currency exchange rate. The first part includes general description of fundaments, explanation of investor's psychology, description of world's most important banks, because the financial world waits for their announcements and reacts upon them. Next subchapter of thesis focuses on central bank of Australia and its monetary policy. The research itself is situated in the second part of the thesis, containing testing the influence of fundamental news on logarithmic return of exchange rate AUD/USD, using linear regression analysis. The objective of this part is to find out what is the influence of news on exchange rate return of AUD/USD. The last part examines whether investing strategies based on announcing fundamental news can bring profit to the investor or the efficient market theory will be confirmed.
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Obergruber, Petr. "Psychologie investora na devizových trzích." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-162782.
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The topic of work "Investor's psychology on Foreign Exchange market" is to explain basic assumption for business on the Foreign Exchange markets and also methods how to profit on them. Work focus on soft factors, which are important in investor's decisions making process. These factors are typical for human's decisions, which are not always optimal from statistical and logical side, and may cause mistakes and investor's lost. The most important economic theories of client's behavior are used for conclusions. The major part of work foces on client as individual, describes his motivation, expectation, trade joining and risk adaptation. Theoretical data are participants of the research, which is based in two decision's making games. Conclutions are created from results of games and their comparison.
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Novák, Tomáš. "Optimalizace investičních strategií pomocí genetických algoritmů." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2015. http://www.nusl.cz/ntk/nusl-224983.
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This thesis is focused on the design and optimization of automated trading system, which will be traded in FOREX. The aim is to create a business strategy that is relatively safe, stable and profitable. Optimization and testing on historical data are a prerequisite for the deployment into real trading.
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Antoš, Josef. "Možnosti předvídání vývoje měnového kurzu v mezinárodním podnikání." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-199796.
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The diploma thesis deals with currency market analysis. There are three main types of analysis: fundamental, technical and psychological analysis. Each of these methods contains explanation of logic, on which the method is based, its advantages, disadvantages and specific examples of this analysis. Neural networks are furher explained in technical analysis. The practical part of the diploma thesis builds on knowledge of technical analysis and tests functionality of the neural networks in the environment of currency markets. The model is calibrated first and then it is used to predict the development of major currency pairs. The prediction is carried out on a monthly chart for December 2013.
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Toth, Václav. "Návrh a implementace obchodního systému v prostředí devizových trhů." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2017. http://www.nusl.cz/ntk/nusl-318613.
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The master thesis deals with proposal of automated trading system and its implementation in the Foreign exchange market environment. This system will be developed as investment model based on the analyzes performed and then tested on real data to achieve maximum stability and profit.
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Padyšák, Jan. "Automatické obchodování měnových párů pomocí technické analýzy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2016. http://www.nusl.cz/ntk/nusl-234778.
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The aim of this work is to create an automated trading system for trading currency pairs using technical indicators and technical analysis. The proposed trading system is tested and optimized on historical price data. To verify the robustness of the proposed system was used walk-forward analysis. Automatic trading system also uses rules for position sizing and risk management of open positions. Created system is profitabel on historical price data and also in the walk-forward analysis.
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Doležal, Radek. "Návrh a implementace automatického obchodního systému pro devizový trh." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2016. http://www.nusl.cz/ntk/nusl-241411.
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The subject of this diploma thesis is a design and implementation of an automated trading system for the forex market. It includes an analysis of the main concepts and methods of technical analysis and money management, which constitute an essential theoretical basis for the subsequent practical design of an automatic system. The objective of this work is a development of an automated trading system whose robustness and stability is tested by a walk forward analysis.
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Borek, Martin. "Investiční strategie založená na Bollingerových pásmech." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2015. http://www.nusl.cz/ntk/nusl-224965.
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This thesis deals with the automatization and comparison of two different strategies for the forex markets, based on the indicator, one from the tools of technical analysis, called Bollinger Bands. Both strategies are first optimized and then compared. Automatization of strategies will be implemented by? using the Meta Quotes Language for MetaTrader broker and its testing will be done on historical data. The goal with this thesis is the operational objective application of the better strategy in the environment of real market.
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Eicheh, Ghassan. "Contribution a l'etude des echangeurs avec stockage d'energie par chaleur latente, destine a la regulation thermique d'une culture de micro-algues." Poitiers, 1986. http://www.theses.fr/1986POIT2277.
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Etudes theorique et experimentale d'un echangeur, contenant un materiau fusible plonge dans l'eau d'un bac de culture d'algues soumise a un transfert radiatif. Developpement des 2 methodes de resolution du probleme de transfert de chaleur. Verification experimentale realisee au laboratoire avec un simulateur de rayonnement solaire
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Fils-Lycaon, Bernard. "Maturation et postmaturation de la cerise (prunus avium l. , var. Bigarreau napoleon) sur l'arbre : caracterisation physico-chimique, synthese proteique, degagements gazeux." Orléans, 1988. http://www.theses.fr/1988ORLE2003.
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La confrontation des cinetiques d'evolution des criteres physico-chimiques permet de mesurer de profonds changements metaboliques a la veraison, a la maturite commerciale et au point de fletrissement. Un modele est propose dans lequel la cerise subit un phenomene de senescence continu au cours duquel se greffent aux 3 stades physiologiques etudies, differentes expressions du genome caracteristiques des etapes classiques associees au vieillissement des fruits
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LU, HAO-YU, and 呂浩宇. "Forecasting System of Forex Exchange Rate Based on Decision Tree." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/j4ztrn.
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碩士國立臺北科技大學
電機工程系
107
With the foreign exchange market located around the world, the overlapping of working hours in different time zones allows the foreign exchange to reach a 24-hour non-stop transaction on weekdays. There are many types of transactions in the foreign exchange market. Such as spot and out forward transaction, as well as different trading methods for futures and margins, which have contributed to the huge transaction amount. Therefore, foreign exchange trading needs to be improved with the help of information systems. In view of the importance attached to data science in recent years, various machine learning analysis tools have attracted attention. In this thesis, we use the Decision Tree to make three kinds of forecast classes for forex data, which are Up, Down and Keep, to provide investors with an assessment and reference for trading. In this thesis, we use the Yahoo Financial website to climb price information such as the opening and closing of forex, and simultaneously calculate relevant technical indicators, such as Relative Strength Index (RSI), Stochastic Oscillator (STC), and Moving Average (MA). After analyzing its characteristics and performing data preprocessing, input it into the decision tree for training to find the best prediction results. The virtual trading system of this thesis is to make virtual trading of foreign exchange through the result of forecasting, and directly evaluate the performance of this system by the rate of return. The maximum rate of return at M1 time interval reached 3% in half a month, the H1 time interval reached 6% in 7 months, and the D1 time interval reached nearly 80% in 6 years.
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Nunes, Marli Damião Abade. "Automated Trading Systems VS Manual Trading in Forex Exchange Market." Master's thesis, 2021. http://hdl.handle.net/10362/119886.
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Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and ManagementIn the recent decades, automated trading has been widely used in Forex and Money Markets, as well as in financial markets. This auto trading provided substantial benefits to transaction efficiency. Many trading robots have been created to substitute humans, capable of simulating trading strategies and continuously making profits. Nevertheless, programs cannot reproduce all human behaviour and most robots are over-sensitive, therefore, it is difficult to have the same results as human traders. The study focuses on evaluating the trading machines sensitivity and effectiveness. The economic markets can benefit from the machine in several ways, through continuous operation, increasing diversification, short/term trading opportunities and by forecasting opportunities e. g. currency price changes. The further investigation indicates that the majority of forex trading robots are profitable, in fact, there is a great tendency for curve-fitting or data-mining. There are some impressive robots out there; of course, these systems maintain an advantage and successfully manage risk. The best ones are more about position sizing and cutting losses quickly and less about high win rates. The greater the sensitivity the greater the trading opportunities, but this decreases the performance. This research will contain interviews with experts that will validate the study.
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YAN, BO-XIN, and 顏伯欣. "Research on Application of Technical Indexes in Forex Trading in Foreign Exchange Market." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/26gj6p.
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碩士國立勤益科技大學
流通管理系
105
This paper discusses whether the use of technical analysis in foreign exchange futures markets excess return. Use the StrategyQuant to generate automated transactions. And select the transaction volume is relatively large US Dollar (USD), Japanese Yen (JPY), British Pound (GBP), Australian Dollar (AUD), Euro (EUR) and Swiss Franc (CHF) six kinds of foreign currency portfolio of goods for the inspection.Use Moving Average, Relative Strength Index,Moving Average Convergence Divergence, Wiliams Percent Range Four indicators for data testing. Transaction in progress and contains fees and sliding prices and other factors, to more close to the real trading environment. In the MT4, used US Dollar (USD), Japanese Yen (JPY), British Pound (GBP), Australian Dollar (AUD), Euro (EUR) and Swiss Franc (CHF) six kinds of foreign currency portfolio of goods from 2008 to 2016, MA is the highest profit in the four trading indicators, and the performance of the pound currency has a better performance.
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Kenc, Turalay, and L. Evans. "FOREX risk premia and policy uncertainty: A recursive utility analysis." 2004. http://hdl.handle.net/10454/3135.
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NoWe compare actual and calibrated values for the foreign exchange risk premium based on the definition in [J. Int. Econ. 32 (1992) 305]. Calibrated values are found from within a dynamic stochastic general equilibrium model of a small open economy consisting of risk averse optimizing agents with unconventional preferences. We find that the equilibrium foreign exchange risk premium is a function of exogenous shocks in the model and is sensitive to assumed attitudes towards risk. Furthermore, various forms of policy uncertainty improve the capacity of the model to generate values closer to those found in the data.
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Loginov, Alexander. "ON THE UTILITY OF EVOLVING FOREX MARKET TRADING AGENTS WITH CRITERIA BASED RETRAINING." 2013. http://hdl.handle.net/10222/21433.
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This research investigates the ability of genetic programming to build profitable trad- ing strategies for the Foreign Exchange Market (FX) of one major currency pair (EURUSD) using one hour prices from July 1, 2009 to November 30, 2012. We rec- ognize that such environments are likely to be non-stationary and we do not expect that a single training partition, used to train a trading agent, represents all likely future behaviours. The proposed adaptive retraining algorithm – hereafter FXGP – detects poor trading behaviours and trains a new trading agent. This represents a significant departure from current practice which assumes some form of continuous evolution. Extensive benchmarking is performed against the widely used EURUSD currency pair. The non-stationary nature of the task is shown to result in a prefer- ence for exploration over exploitation. Moreover, adopting a behavioural approach to detecting retraining events is more effective than assuming incremental adaptation on a continuous basis. From the application perspective, we demonstrate that use of a validation partition and Stop-Loss (S/L) orders significantly improves the perfor- mance of a trading agent. In addition the task of co-evolving of technical indicators (TI) and the decision trees (DT) for deploying trading agent is explicitly addressed. The results of 27 experiments of 100 simulations each demonstrate that FXGP sig- nificantly outperforms existing approaches and generates profitable solutions with a high probability.
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"How to strengthen the news services of Reuters in the interbank forex market in Hong Kong." Chinese University of Hong Kong, 1990. http://library.cuhk.edu.hk/record=b5886386.
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by Alexander Y.M. Leung and Tony S.F. Wong.Thesis (M.B.A.)--Chinese University of Hong Kong, 1990.
Bibliography: leaves 82-83.
ABSTRACT --- p.ii
TABLE OF CONTENTS --- p.iv
LIST OF TABLES --- p.v
ACKNOWLEDGEMENT --- p.vi
Chapter --- p.1
Chapter I. --- INTRODUCTION --- p.1
Significance of the Topic --- p.1
Interbank Forex News --- p.2
Research Approach --- p.5
Chapter II. --- THE FOREX MARKET AND NEWS --- p.7
Foreign Exchange --- p.7
The Forex Trading --- p.11
Electronic Financial Information Vendors --- p.16
News --- p.22
Chapter III --- .RESEARCH METHODOLOGY --- p.29
"Research Objectives, Theoretical Framework and Hypothesis Testing" --- p.29
The Survey --- p.36
Chapter IV. --- RESULTS AND ANALYSIS --- p.43
Response Rate --- p.43
Statistical Analysis --- p.43
Assumptions --- p.44
Statistical Techniques and Tests --- p.46
Results on Relative Position --- p.49
Results of Theoretical Frameworks --- p.60
Results on Multiple Regression. --- p.64
Results from Other Findings --- p.66
Reliability Testing --- p.70
Chapter V. --- CONCLUSIONS AND RECOMMENDATIONS --- p.72
Market Share --- p.72
Relative Position of Reuters --- p.73
Implication on Market Share --- p.75
Other Attributes --- p.77
Concluding Statement --- p.79
BIBLIOGRAPHY --- p.80
APPENDIX --- p.81
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KOPTIŠ, Daniel. "Efektivita finančního trhu." Master's thesis, 2018. http://www.nusl.cz/ntk/nusl-375960.
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This diploma thesis analyses the market efficiency hypothesis of chosen currency pairs EUR/USD, EUR/CZK and USD/CZK. The aim of this study is to describe the price behaviour of chosen financial assets and verify the random walk hypothesis on the foreign exchange market. Model of random walk says there is no relationship between historical and future prices, so price changes are random and cannot be predicted. Random walk hypothesis was tested by chosen statistic tests runs test, test of auto-correlation, variance ratio test and unit root test (Augmented Dickey-Fuller Test). Data were collected through the online trading platform and tested in EViews. Period of testing for daily changes (D1) was chosen from 31.12.2009 to 29.12.2017 and for weekly changes (T1) from 2.1.2005 to 29.12.2017. This thesis proved weak-form efficiency of EUR/USD and USD/CZK for both daily changes and weekly changes in a chosen period. Inefficient behaviour of daily changes of EUR/CZK (D1) was indicated by runs test, test of autocorrelation and variance ratio test. There is a question what the cause of inefficiency is. The most likely explanation is currency intervention of the Czech National Bank which took place from April 2013 to April 2017 in order to achieve the inflation target and prevent deflation. Traders could also achieve profits by speculating on appreciation of Czech Crown below 27,-crowns/euro which is not in harmony with efficient-market hypothesis. Moreover, currency pair EUR/CZK is not liquid as major currency pairs and there are bigger transaction costs because of bid-offer spread. This work can contribute to next research in connection with results of this study. To verify if the cause of inefficient behaviour of daily price changes of EUR/USD are currency interventions of the Czech National Bank, I would suggest testing efficient-market hypothesis exactly at the time of interventions. It would be also suitable to compare results of different methodologies including testing in short-time intervals of price changes.
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Qiriga. "Zhodnocení čínské politiky FOREXu: perspektiva rovnovážného směnného kurzu." Master's thesis, 2019. http://www.nusl.cz/ntk/nusl-398827.
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Master Thesis: Evaluation of China's FOREX Policy: Equilibrium Exchange Rate Perspective. Author: - Qiriga Supervisor: Ing. Vilém Semerák M.A., PhD. Academic Year: 2018/2019 Abstract This thesis investigated China's foreign exchange policy from the equilibrium exchange rate perspective, using the Fundamental Equilibrium Exchange Rate model with multiregional dimension. The core question is whether Renminbi is misaligned (over- or undervalued) from 2001 to 2017. The result indicated that the bilateral nominal exchange rate of Renminbi against the US dollar was undervalued from 2002 to 2013, reaching a peak of 34.2% in 2007. In the rest of the years, it was overvalued slightly against the US dollar. As to the real effective exchange rate (REER) of Renminbi, it was overvalued in the first three years of the 2000s, then went through the period of undervaluation of 9 years, with a smaller degree compared with the bilateral exchange rate. It is shown that from 2013 the REER of Renminbi had been overvalued for several years until it was undervalued again in 2017 by 2%. Keywords FEER, Renminbi, exchange rate misalignment, multinational model, real effective exchange rate
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Moravcová, Michala. "Tři eseje o měnových trzích ve střední Evropě." Doctoral thesis, 2019. http://www.nusl.cz/ntk/nusl-408284.
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This dissertation thesis consists of three essays on new EU foreign exchange markets (FX), i.e. the Czech koruna, Polish zloty and Hungarian forint. In the first two essays, the impact of foreign macroeconomic news announcements and central banks' monetary policy settings on the value and volatility of examined exchange rates is analyzed. In the third chapter, the conditional comovements and volatility spillovers on new EU FX markets is examined. The aim of this thesis is to contribute to the existing empirical literature by providing new evidence of the examined currencies during periods, which have not been examined yet (after the Global financial crisis (GFC), during the EU debt crisis and during currency interventions in the Czech Republic). The first essay (Chapter 2) examines the impact of Eurozone/Germany and US macroeconomic news announcements and monetary policy settings of the ECB and the Fed on the value of new EU member states' currencies. It is a complex analysis of 1-minute intraday dataset performed by event study methodology (ESM). We observe different reactions of exchange rates in pair with the US dollar on the US macroeconomic announcements and Euro-expressed FX rates on Germany macro news during the EU debt crisis and after it. We also provide evidence of leaking news, showing...