Foreign exchange foreign exchange (FX markets)
Usually refers to the foreign currency that can be used for international settlement of the various means of payment. Including: foreign currency, foreign currency deposits, foreign currency bonds (government bonds, treasury bonds, corporate bonds, stocks, etc.), foreign currency payment instruments (bills, bank deposit certificates, postal savings certificate, etc.).
Exchange is an international exchange of short. Exchange the concept of a static and dynamic points. Dynamic Exchange, refers to a country to become another money changer in the currency to settle international debt of financial activities. In this sense, the same dynamic in the international foreign exchange settlement. Static Exchange who have broad and narrow. Generalized the foreign exchange management of the Exchange Act is referred to as the Exchange. It refers to all external financial assets. China's existing "People's Republic of China Foreign Exchange Management Regulations" Article 3 provides that the Exchange refers to the foreign currency that can be used for international means of payment and liquidation of the assets. The narrow sense refers to the foreign exchange foreign currency for International Settlements said that the means of payment. More please visit the Exchange House: wwwbank-of-forex.com
Exchange of both active and passive meaning.
Exchange of dynamic meaning refers to the use of the financial institutions will be a convertible currency into another currency of international exchange and process, and use various financial instruments of international relations and debt claims a non-cash settlement acts.
Exchange of static meaning refers to the foreign currency that can be used to pay the external financial assets. May have to pay, convertible and availability.
Can be paid by means of international financial markets generally accepted means of payment; convertibility of the dollar that can be arbitrary national currency or foreign currency assets in the means of payment; availability of that under no circumstances can claim the means of payment. "People's Republic of China Foreign Exchange Management Regulations" Article 3 provides that: "of the alleged foreign exchange, refer to the following to the foreign currency that can be used for international means of payment and liquidation of the assets of: (a) of foreign currencies, including banknotes, coins, (2 ) Foreign currency payment instruments, including bills, bank deposit certificates, postal savings certificate, etc., (3) foreign currency securities, including government bonds, corporate bonds, stocks, etc. (4) special drawing rights (5) other foreign currency assets. "
As China's reform and opening-depth development of foreign-related economic activities into the national economy in various fields, both import and export trade, science and technology, academic exchanges, or to attract foreign investment, issued B shares, H shares or global bonds and overseas securities financing, almost all of these Are related to foreign exchange, that is different from the renminbi's foreign means of payment. Exchange as an international means of payment, active in world trade and international financial markets. Compared with the RMB, because of the complicated international factors, its activities have become even more unpredictable.
Exchange is the product of international trade, international trade liquidation of the means of payment. Foreign Exchange (Foreign Exchange) that is, foreign exchange, "the" transfer of money different places, "against the" currency conversion between, from the dynamic sense, the Exchange is the currency of a country into another currency, and in the international flow of For the liquidation due to international economic contacts and the credits and debts. Exchange also speaking from the static performance for the conduct of International Settlements, the means and tools, such as foreign currency, foreign currency-denominated securities of any kind. International Monetary Fund (IMF) to the Exchange is the definition: "Exchange is the monetary authority (Central Bank, the monetary authorities, the Exchange Stabilization Fund and the Ministry of Finance) to bank deposits, the Ministry of Finance for vouchers, short and long-term government bonds and other forms Held in the international balance of payments deficit can use the claims, including from central banks and intergovernmental agreements on the market in bonds is not good, it is not asked to debtors or creditors monetary currency. "According to the definition of IMF, China's foreign exchange made more clear. "Interim Regulations on the People's Republic of China Foreign Exchange Management" Article 2 of the Exchange provides as follows: Exchange is 1. Foreign currencies, including banknotes, coins, etc. 2. Foreign currency securities, including government bonds, treasury bonds, corporate bonds, stocks, the coupon ; 3. Foreign currency payment instruments, including bills, bank deposit certificates, postal savings certificate, 4. Other foreign exchange funds.
In form, the Exchange is a foreign currency or foreign currency assets, but not that all the non-national currencies are foreign exchange, only those with convertibility of foreign currency in order to become foreign exchange. IMF to accept any agreement under Article 8 of the currency of the country in the international community be recognized as a freely convertible currency. These countries must fulfill the three rules: 1. Frequent exchanges of international payments and money transfers should not impose restrictions, 2. Not to apply discriminatory measures or multiple currency exchange rates, 3. Request in another Member State, at any time, the obligation to In exchange for each other in the regular contacts in the balance of the national currency. So far, more than 50 countries around the world have been freely convertible currency. In addition, the IMF agreement to accept all provisions of Article 14 of the country, its currency be regarded as limited freely convertible currency, a common feature of these currencies for the performance of the regular contacts on the international payment and the transfer of funds to impose various restrictions. If restrictions on residents or restrict the free convertibility of capital account convertibility of foreign exchange. China's yuan is limited freely convertible currency.
In China, there are more than 20 types of foreign currency in the foreign exchange market can be listed on the sale, they are: United States dollars (USD), euro (EUR), Japanese Yen (JPY), sterling (GBP), Swiss francs (CHF), Italian lire (ITL ), Guilders (NLG), Belgian francs (BEC), Danish kroner (DKK), Swedish krona (SEK), Austrian schillings (ATS), the Hong Kong dollar (HKD), Canadian dollars (CAD), Australian dollar (AUD) , The New Zealand dollar (NZD), Singapore dollars (SIN), patacas (MOP), Malaysian ringgit (MYR), and so on.
Foreign Exchange (foreign exchange)
To the foreign currency used for international settlement of the means of payment.
International Monetary Fund on the Exchange's explanation is:
Foreign exchange currency bank deposits to the Administration, the Ministry of Finance for vouchers, short and long-term government bonds held in the form of the international balance of payments deficit, of which the use of claims, including the Central Bank because of an agreement between the Government and the market Not on the flow of claims, regardless of whether it is the debtor or the creditor countries of the monetary currency that.
China's foreign exchange means:
China's January 8, 1996 promulgation and implementation of the "People's Republic of China Foreign Exchange Management coherent," the third of the first chapter of the Exchange's explanation is:
Exchange means:
Foreign currencies, including banknotes, coins, etc.;
Foreign currency securities, including government bonds, treasury bonds, corporate bonds, stocks, the coupon;
Foreign currency payment instruments, including bills, bank deposit certificates, postal savings certificate, etc.;
Special Drawing Rights, the European currency unit;
Other foreign currency assets.
Exchange of Category:
1. Can be freely convertible by time: freedom of foreign exchange, accounting
2. The source of foreign exchange and the use of: trade foreign exchange, non-trade foreign exchange
3. Not by the management of foreign exchange requirements: residents of foreign exchange, foreign exchange non-residents
Foreign exchange transactions:
1. Spot foreign exchange transactions: also known as cash transactions, the two sides agreed that trade turnover in the two business days for delivery of foreign exchange trading.
2. Long-term transactions: also known as forward transactions, foreign exchange trading were not after delivery, according to the terms of the contract agreed time for delivery of foreign exchange trading.
3. Arbitrage: arbitrage refers to the use of different foreign exchange market, a different currency, a different delivery time and some currency exchange rates and interest rates and the differences, from cheap to buy one, the one sold at high prices, which make a profit The foreign exchange trading.
4. Arbitrage transactions: the use of the two countries in the money market interest rate differences, will transfer funds from one market to another market to make profits of trading.
5. Swap transactions: refers to the same currency, but transactions in opposite directions, on different delivery of two or more of the combined foreign exchange transactions conducted by the transaction.
6. Futures Exchange: the so-called foreign exchange futures, refers to the exchange rate for the subject of the futures contracts, to avoid exchange rate risk, which is the first financial futures in the species.
7. Foreign exchange options trading: foreign exchange options trading of foreign exchange, options to the option buyer the seller to pay the corresponding options costs, was a right that the options the buyer to pay a certain amount of fee options, the right to the due date in accordance with the agreement The two sides agreed in the prior agreement of exchange and the seller the right to the same period in the amount of the sale agreement for the currency, while the rights of the buyer has the right to non-implementation of the sale and purchase agreement.
Major means of foreign exchange transactions:
1. Direct use of the banking industry, such as 2 000-1 Reuters Trading System
2. Outcry agent
3. Electronic brokerage system, such as 2 000-2 Reuters Trading System
Foreign exchange transactions
Foreign exchange transactions is a currency with another currency exchange. And various other financial markets, foreign exchange market is not specific locations, and no central exchange, but through banks, businesses and individuals between the electronic network transactions.
"Foreign exchange trading" is at the same time to buy a currency pair in one currency and selling another currency. Currency Exchange in the form of transactions, such as the euro / dollar (EUR / USD) or U.S. dollar / Japanese yen (USD / JPY).
Foreign exchange market, also known as the "Forex" or "FX" market, is the world's largest financial market, the daily average over 10,005 billions of dollars of liquidity in the capital - the U.S. equivalent of the sum of all the securities market transactions More than 30 times.
From the transactions and realize the nature of the type of view, foreign exchange trading may think that the following two categories:
1. To meet our customers the real trade and capital transactions based on the demand for foreign exchange transactions;
2. On the basis of foreign exchange transactions, to hedge exchange rate risk and prevention or for foreign investment and speculative demand for foreign exchange derivatives transactions.
The first category are the basis of spot foreign exchange transactions are major foreign exchange transactions and foreign exchange derivatives transactions, including forward foreign exchange transactions and foreign exchange transactions optional, swap transactions, swaps, and so on.
The rise of the foreign exchange market
The rise of the foreign exchange market, and the market can not be separated from the standardization
December 2000, the Clinton administration adopted the "Futures Modernization Act," the bill requires the U.S. foreign exchange futures brokers in the United States must Futures Association (NFA) registration, and U.S. goods and Futures Trading Commission (CFTC) monitoring.
"Futures Modernization Act," introduced, making online foreign exchange margin trading norms on the development track for the majority of foreign exchange investors with a strong legal protection. This protection applies not only to U.S. investors, the same applies to the investors from all over the world.
Continue to lower the threshold for the market, increasing government regulation, together with the foreign exchange market on its own inherent charm of individual investors, the foreign exchange market has become the 21st century the new favorite of individual investors.
How to predict foreign exchange market movements
Chaohui the difficulties, first, identify market is long, short or consolidation patterns and the second is to overcome weaknesses of human nature逆市operation, for which we must continue to accumulate experience to increase awareness, but also the fundamental technical Qinjia judged that there is There is no shortcut to take.
Let your friends to do the trend
In the floating exchange rate system, any of the foreign exchange market only three, namely, rising prices, declining prices and market consolidation. In the currency markets, the consolidation market transactions each year, accounting for about 70 to 80 percent, while the remaining 20 percent to 30 percent before the bulls or bears Quotes. A correction in the market, investors have to distinguish between consolidation of the interval, and then in the range of stalls selling on the next
Stalls to buy, the so-called buy low sell high, to obtain profits, but not too much risk, if investors are rational implementation of stop-loss strategy, or even increase the amount of investment in order to obtain greater profits.
However, the market most people still want to timely grasp 20 percent to 30 percent of the market long or short, homeopathy operation. Mainly due to the operation of homeopathy very substantial profits, but the number of stops out and low and hence additional costs greatly reduced. Furthermore, the operator is only practice homeopathy home rather than inventor, just in accordance with the existing market trends can be traded, are "all-knowing and doing" the type of market so that "the trend is your friend" (Trendisyourfriend). But in the actual transaction, there are two problems: First, how to identify market is long, short or consolidation pattern; first is the "contrarian" is extremely difficult to overcome the weaknesses of human nature. To overcome the weaknesses of human nature, usually through experience, suffered losses to increase awareness, and other ways to reach As for how to identify market is long, short or consolidation pattern, it must be by the fundamentals and technical involvement judge. Investment in the foreign exchange market operations, whether the buyer or seller, the basic premise should be the subject of investment in the future price forecasts, and then decide according to their forecast investment strategy and operational direction. For example, when investors are optimistic about the U.S. dollar against the yen, investors said that the U.S. dollar will go a long pattern of the market, the yen relatively short follow pattern, it should be to buy dollars, sell the yen, which is on the dollar, multi - Yuan to the air. If this forecast is correct, then investors will be able to profit.
Master data analysis fundamentals
Fundamental analysis that the currency's strength reflected the country's economic situation is good or bad, although its strength may be affected by other non-economic factors and the interference of a temporary fluctuation or have physical and economic contrary to the trend, but in the long term , Its price will eventually return to commensurate with the economic situation in the state. As for - the country's economic situation should be how to measure good or bad, has taken a relatively manner. Such as the United States in 1996 estimated the annual economic growth rate up to 3 percent, on the fundamentals of those eyes, this data can not be judged should be stronger or weaker dollar, must be with the former - the annual economic growth rate compared And Germany, Japan and other major countries in the economic growth rate compared. If the United States the previous year's economic growth rate of 2 percent, while Germany in 1996, Japan's economic growth rate of about 1.5 percent in the standard, then the 3 percent of the data provided to the fundamentals of the idea is: U.S. Gradual improvement in the economy, its economic growth than Germany and Japan, two better than the dollar or the yen on the mark should be relatively strong, to reflect its economic strength. Fundamental analysis, that is, foreign exchange trading decisions accordingly as the target, to buy dollars, sell the yen, mark.
Individuals with foreign exchange regulations
One, carrying the entry of foreign exchange management
(A) of residents carrying cash in foreign currency amounting to more than 2,000 U.S. dollars, foreign currency non-resident carrying cash amounting to 5,000 U.S. dollars or more, entry to the customs declaration, the amount of the following provisions do not need to declare;
(B) many times and from the short term (within 15 days of entry or departure more than once) to bring in foreign currency cash amounting to 1,000 U.S. dollars over immigration, customs declaration should be that no amount of the following declaration;
(C) many times and from the day (the day of entry or departure more than once) to bring in foreign currency cash immigrants, regardless of the amount, should be declared to Customs.
Second, with the country's foreign exchange management
(A) The declaration of Immigration officers from the record amount of foreign currency banknotes carrying the country, not exceeding the declared amount of immigration, not for "exit permits to carry foreign exchange", relying on the Customs and Excise Department, Immigration, the inventory release ; Over immigration to declare the amount, according to the declaration for non-immigrants.
(B) there is no record of entry to declare the amount of foreign currency from carrying cash payment instruments in foreign currency, the country's foreign currency portfolio, amounting to 2,000 U.S. dollars in residents (including 2,000 U.S. dollars) following non-residents amounting to 5,000 U.S. dollars (including 5000 Dollars) following the need to apply for permits to carry, customs clearance granted; residents to carry dollar amount equivalent to 2000-4000 (including 4,000 U.S. dollars), non-residents to carry dollar amount equivalent to 5000-10000 (including 10,000 U.S. dollars), Banks to apply for permits to carry, carry cards released by the Customs and Excise Department; residents carrying amount equivalent to more than 4,000 U.S. dollars, non-residents carrying amount equivalent to more than 10,000 U.S. dollars, should apply for the local foreign exchange banks with the Exchange's approval of permits issued to carry , Carrying with Customs clearance certificate.
(C) the same day multiple-exit personnel to carry foreign currency cash payment instruments in foreign currency, foreign currency portfolio exit, customs declaration with this level of immigration records released, with no entry to declare the amount recorded, regardless of amount, must be Banks to apply for permits to carry, carry cards released by the Customs and Excise Department.
(D) the short term multiple-exit personnel to carry foreign currency cash payment instruments in foreign currency, foreign currency portfolio exit, customs declaration with this level of immigration records released and no immigration record amount of the declaration, carrying 1,000 U.S. dollars equivalent to the amount of the following , The Customs and Excise Department to be released; exceeded 1,000 U.S. dollars, the bank must apply for a permit to carry, carry cards released by the Customs, Immigration, with no inventory and carry permit, no release.
