大学核心商务英语读写教程3课件陆军 ISBN9787811349207PPTUnit 10.ppt

Objectives The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies. The foreign exchange market is different from any other financial market. The foreign exchange market rate and the magnitude of fluctuations in the financial sector are second to none. Theme of the Text Text A mainly explains the elements of foreign exchange market: the market size and liquidity, market participants, banks, commercial companies, investment management firms, hedge funds, retail foreign exchange brokers and some financial instruments. The foreign exchange market is Over the Counter (OTC) or inter-bank market because foreign currency is traded through phone or electronic trading net in fact, the trading of foreign currency does not like stock trade, it is not intensive trading in exchange center. The simultaneous sale (or purchase) of a financial instrument and the taking of an equal and opposite position in a similar instrument is to provide a profit. That is, exploiting pricing differences (anomalies) across markets. True arbitrage is risk free. In economics and finance, arbitrage is the practice of taking advantage of a price differential between two or more markets. The foreign exchange market is Over the Counter (OTC) or inter-bank market because foreign currency is traded through phone or electronic trading net in fact, the trading of foreign currency does not like stock trade, it is not intensive trading in exchange center. the forward exchange market is a market for contracts that ensure the future delivery of a foreign currency at a specified exchange rate. The price of a forward contract is known