Main characteristics of non-residents’ trading on the foreign exchange and government bond markets
AbstractOur article analyses the behaviour of non-resident participants on domestic financial markets, which are important from the point of view of monetary policy. Due to the determining role played by foreign investors, understanding their behaviour is essential for understanding the main functioning mechanism of the markets. Among domestic markets, we will examine the foreign exchange market, which has particular relevance to monetary policy, owing to the role played by the exchange rate in the economy. We will also review the domestic government bond market, which is important for the central bank in relation to its role played in the transmission of interest rate policy and with regard to the assessment of the credibility of economic policy.
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Bibliographic InfoArticle provided by Magyar Nemzeti Bank (the central bank of Hungary) in its journal MNB Bulletin.
Volume (Year): 1 (2006)
Issue (Month): 1 (June)
foreign exchange market; government bond market; market turnover; feedback trading.;
Find related papers by JEL classification:
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- F31 - International Economics - - International Finance - - - Foreign Exchange
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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- Michael Frömmel & Norbert Kiss M. & Klára Pintér, 2011.
"Macroeconomic announcements, communication and order flow on the Hungarian foreign exchange market,"
International Journal of Finance & Economics,
John Wiley & Sons, Ltd., vol. 16(2), pages 172-188, 04.
- M. Frömmel & N. Kiss M & K. Pintér, 2009. "Macroeconomic announcements, communication and order flow on the Hungarian foreign exchange market," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/626, Ghent University, Faculty of Economics and Business Administration.
- Michael Frömmel & Norbert Kiss M. & Klára Pintér, 2009. "Macroeconomic announcements, communication and order flow on the Hungarian foreign exchange market," MNB Working Papers 2009/3, Magyar Nemzeti Bank (the central bank of Hungary).
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