national currency depreciation or appreciation has always been argued seriously among policymakers since changing in exchange rate could cause improvement or deficit in trade balance. these changes affect the trade volume of a country in both short-run and long-run. long-run effects are recognized as the marshall-lerner condition, while short-run effects are analyzed by two concepts: j-curve an...

This study investigates the effects of  macroeconomic variables and their role in development of foreign exchange market. The foreign exchange market is the mechanism by which a person of firm transfers purchasing power form one country to another, obtains or provides credit for international trade transactions, and minimizes exposure to foreign exchange risk. The foreign exchange transaction i...

This paper investigates the impact of foreign trading on short term volatility and on the correlation of local with world returns. I find that trading in general is associated with higher volatility, whether it is trading by foreigners or domestic investors. However, controlling for total trading volume, foreign trading has no impact on volatility in developed countries, and only a marginally s...

Anomaly is an incident or event that cannot be explained by the dominant theories. Anomalies are situated in confronting with the efficient market theory, so that it provides conditions for stock trading strategies with additional returns in case of existing predetermined returns. Therefore, in this study, the anomaly due to monthly effects on the stock volume trading and the Tehran Stock Excha...

Foreign investors generally underperform domestic investors in trading activities. This study shows that their inferior performance is attributable to non-initiated orders. Foreign investors actually perform better than domestic investors in initiated orders. In addition, their performance is also mixed when trades are classified depending on who the counterparties are. These mixed performances...

This study investigates the effects of  macroeconomic variables and their role in development of foreign exchange market. The foreign exchange market is the mechanism by which a person of firm transfers purchasing power form one country to another, obtains or provides credit for international trade transactions, and minimizes exposure to foreign exchange risk. The foreign exchange transaction i...

This study investigates the effects of  macroeconomic variables and their role in development of foreign exchange market. The foreign exchange market is the mechanism by which a person of firm transfers purchasing power form one country to another, obtains or provides credit for international trade transactions, and minimizes exposure to foreign exchange risk. The foreign exchange transaction i...

Though machine learning has been applied to the foreign exchange market for algorithmic trading for quiet some time now, and neural networks(NN) have been shown to yield positive results, in most modern approaches the NN systems are optimized through traditional methods like the backpropagation algorithm for example, and their input signals are price lists, and lists composed of other technical...

Research on foreign exchange market microstructure stresses the importance of order flow, heterogeneity among agents, and private information as crucial determinants of short-run exchange rate dynamics. Microstructure researchers have produced empiricallydriven models that fit the data surprisingly well. But FX markets are evolving rapidly in response to new electronic trading technologies. Tra...