Bi-National News Effects and Exchange Rate Futures: The Case of Canadian Dollar Futures Contracts

2004 ◽  
Author(s):  
John A. Doukas ◽  
Lorne N. Switzer
Keyword(s):  
Exchange Rate ◽  
Canadian Dollar ◽  
Futures Contracts ◽  
News Effects

scholarly journals The Canadian Dollar versus the Collection: How Canadian Academic Libraries are Coping

2017 ◽  
Vol 11 (2) ◽  
Author(s):  
David R. Scott ◽  
Nicole Eva
Keyword(s):  
Exchange Rate ◽  
Academic Libraries ◽  
Canadian Dollar ◽  
Knowledge Network ◽  
Financial Strain ◽  
Communication Model ◽  
University Administrators ◽  
Current Crisis ◽  
Research Knowledge ◽  
The Impact

Through 2015 and into 2016, Canadian academic libraries’ collections budgets were severely strained due to the steady decline of the CAD/USD exchange rate. As most subscription fees for electronic resources (e-resources) are billed in US dollars, the falling value of the Canadian dollar significantly reduced libraries’ purchasing power. This study is based on a survey of the English-speaking member institutions of the Canadian Research Knowledge Network (CRKN), a Canadian collections consortium, carried out to determine the impact of the poor exchange rate on collections development and how libraries are coping with new budgetary pressures. Librarians from 33 universities provided survey responses. Of these, 22 participated in telephone interviews to further discuss concerns and ideas regarding the current crisis. The study finds that all participant libraries have taken actions to address the budgetary shortfall, including cancelling serial and database subscriptions, negotiating lower costs with vendors, purchasing fewer monographs, and soliciting additional funding from their institutions. While the financial strain resulting from exchange rate fluctuations is indeed a significant problem for which solutions should be sought, several respondents stressed that it only exacerbates the ongoing inflation of e-resource subscriptions. This deeper and enduring issue, which is expected to outlast the present exchange rate crisis, is enabled by an inherently flawed scholarly publishing system. Thus, librarians engaged in discussions with their wider academic communities concerning collections budgets should not focus exclusively on the exchange rate but should leverage the opportunity to explore alternatives to the current scholarly communication model. If solutions exist, they will likely only be achieved through the support of faculty and university administrators, as well as cooperation among post-secondary institutions and library consortia. Au cours de l’année 2015 et au début 2016, les budgets des collections des bibliothèques universitaires canadiennes ont connu d’importantes restrictions en partie causées par la baisse du dollar canadien face au dollar américain. La plupart des frais d’abonnements aux ressources électroniques sont en dollar américain ce qui signifie que le pouvoir d’achat des bibliothèques a été significativement réduit face à la dévalorisation du dollar canadien. Cette étude utilise un sondage auprès des établissements anglophones qui sont membres du Réseau canadien de documentation pour la recherche (RCDR), un consortium canadien pour les collections, afin de mieux connaître l’impact du faible taux de change sur le développement des collections et sur la façon dont les bibliothèques s’adaptent à de nouvelles pressions budgétaires. Des bibliothécaires de 33 universités ont répondu au sondage. Parmi ceux-ci, 22 ont participé à des entrevues téléphoniques pour discuter davantage de préoccupations et d’idées concernant la crise actuelle. L’étude montre que toutes les bibliothèques participantes ont pris des mesures pour contrer l’insuffisance budgétaire incluant l’annulation d’abonnements de périodiques et de bases de données, la négociation de coûts inférieurs avec les fournisseurs, l’achat de moins de livres ainsi que la sollicitation de financement additionnel auprès de leur institution. Quoique ce stress financier causé par les fluctuations du taux de change représente un sérieux problème pour lequel il faut trouver des solutions, plusieurs répondants ont réitéré que cette réalité ne fait qu’aggraver l’inflation continue des abonnements aux ressources électroniques. Cet enjeu sérieux et persistant, qui risque de perdurer au-delà la crise du taux d’échange actuel, est le résultat d’un système de communication savante défaillant. Les bibliothécaires qui discutent avec leur communauté universitaire au sujet des budgets de collections ne devraient pas se concentrer uniquement sur le taux de change mais devraient en profiter pour explorer des alternatives au modèle de communication savante actuel. Si des solutions existent, elles se réaliseront seulement avec l’appui des professeurs et des administrateurs ainsi qu’avec la coopération entre les établissements postsecondaires et les consortiums des bibliothèques.

scholarly journals The analysis of return on speculative trading with futures contracts of agriculture commodities in the context of the currency risk

2007 ◽  
Vol 55 (3) ◽  
pp. 133-142
Author(s):  
Oldřich Šoba
Keyword(s):  
Exchange Rate ◽  
Futures Contracts ◽  
Financial Assets ◽  
Agricultural Commodities ◽  
Currency Risk ◽  
Futures Contract ◽  
The World ◽  
Speculative Trading ◽  
Relative Change ◽  
Main Factor

The paper is focused on analysis of return on speculative operations with futures contracts from the view of participators not undertaking and undertaking the currency risk. The currency risk is determined by unexpected change of relevant exchange rate (currency denomination of futures contracts / domestic currency of participator). The paper analyses the basic factors influencing the profitability of these operations such as relative change of futures contract value, leverage incidence and relative change of relevant exchange rate. The paper is focused on futures contracts of the world most important agricultural commodities. The conclusion of the paper for participators not undertaking the currency risk is following: The relative change of futures contract is main factor for the calculation of return on speculative operation. This change is multiplied by leverage incidence finally. The conclusion of the paper for participators undertaking the currency risk is following: The relative change of relevant exchange rate is not usually relevant for the calculation of return on speculative operation. Main factor is the relative change of futures contract because this change is multiplied by leverage incidence finally but the relative change of relevant exchange rate isn’t.Neverthless the conclusions of this paper are not valid only for futures contracts of agricultural commodities but generally also for other commodity futures contracts and futures contracts where underlying assets are not commodities but for example financial assets.

scholarly journals Nonlinear Dependencies And Chaos In The Bilateral Exchange Rate Of The Dollar

2010 ◽  
Vol 9 (3) ◽  
Author(s):  
Bahram Adrangi ◽  
Mary Allender Allender ◽  
Arjun Chatrath ◽  
Kambiz Raffiee
Keyword(s):  
Exchange Rate ◽  
Strong Evidence ◽  
Correlation Dimension ◽  
Canadian Dollar ◽  
Swiss Franc ◽  
Nonlinear Dependence ◽  
Test Results ◽  
Bilateral Exchange ◽  
Low Dimension ◽  
Japanese Yen

Employing the daily bilateral exchange rate of the dollar against the Canadian dollar, the Swiss franc and the Japanese yen, we conduct a battery of tests for the presence of low-dimension chaos.  The three stationary series are subjected to Correlation Dimension tests, BDS tests, and tests for entropy. While we find strong evidence of nonlinear dependence in the data, the evidence is not consistent with chaos.  Our test results indicate that GARCH-type processes explain the nonlinearities in the data.  We also show that employing seasonally adjusted index series enhances the robustness of results via the existing tests for chaotic structure.

scholarly journals Performance Of Deterministic And Stochastic Trends Models In Forecasting The Behavior Of The Canadian Dollar And The Japanese Yen Against The US Dollar

2011 ◽  
Vol 5 (12) ◽  
Author(s):  
Arav Ouandlous
Keyword(s):  
Exchange Rate ◽  
Canadian Dollar ◽  
Forecast Performance ◽  
Stochastic Trends ◽  
The Us ◽  
Modeling And Forecasting ◽  
Rate Behavior ◽  
Us Dollar ◽  
Exchange Rate Models ◽  
Japanese Yen

The literature on modeling and forecasting exchange rate behavior shows that complex forecasting exchange rate models do not often outperform ARIMA models. We show that the same forecasting models applied to forecast the behavior of the Canadian dollar and the Japanese Yen against the US dollar produced varying forecast performance.

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