《新编金融英语》PPT完整全套教学课件_136-270.pptxVIP

TheForexMarketTheForeignExchangeMarket,orForexmarket,iswherethemajorityofbuyingandsellingofworldcurrenciestakesplace.TheForexmarketisbyfarthelargestfinancialmarketintheworldwithtradingvolumessurpassingUSD1.5trilliononsomedays.Theverylargecommercialbanksarethemajortradersinthismarket1-136

Aninvestorhastounderstandhowtointerpretcurrencyquotesandotherbasicterminologyoftheforexmarketbeforetradingcurrencieswithrealmoney.Everyforeignexchangetransactioninvolvesthesimultaneousbuyingonecurrencyandsellingofanother.HowtoReadaCurrencyQuote1-137

Thesetwocurrenciesmakeupwhatiscalledacurrencypair.Anexampleofanactualforexquoteofthedollar-yenexchangeratewillmakethiseasiertolearn.HowtoReadaCurrencyQuote1-138

Example:USD/JPY=115.53.Thecurrencytotheleftoftheslash(/)iscalledthebasecurrency(USD=theU.S.Dollar)andtheoneontherightiscalledthequotecurrencyorcountercurrency(JPY=theJapaneseYen).HowtoReadaCurrencyQuote1-139

Thewaytheexchangerateisgivenmeansthat1unitofthebasecurrency(thatis,1dollar)isequalto115.53yen.Justlikeastockquote,acurrencyquoteismadeupofabidprice(orbid卖)andanaskprice(orask买).HowtoReadaCurrencyQuote1-140

USD/JPY107.01/06Sell01USDBuy06USDHowtoReadaCurrencyQuotebasecountrycountercurrencyBidpriceaskprice1-141

MarketOrdersAmarketorderisanordertobuyorsellacurrencyatthecurrentmarketprice.Whenplacingamarketorder,thecurrencytraderspecifiesthecurrencypairhewantstobuyorsellbuyingorselling.(EUR/USD,USD/JPY,etc.)andthenumberoflotsheisinterestedin1-142

Alimitisanordertobuyorsellacurrencyataspecifiedpriceorbetter.Inalimitorder,thecurrencytradernotonlyspecifieswhichcurrencyhewantstobuyorsell,b