Arbeitspapier
Liquidity provision in the overnight foreign exchange market
We presents evidence that non-financial customers are the main liquidity providers in the overnight foreign exchange market using a unique daily data set covering almost all transactions in the SEK/EUR market over almost ten years. Two main findings support this: (i) The net position of non-financial customers is negatively correlated with the exchange rate, opposed to the positive correlation found for financial customers; (ii) Changes in net position of non-financial customers are forecasted by changes in net position of financial customers, indicating that non-financial customers take a passive role consistent with liquidity provision.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Papers ; No. 391
- Klassifikation
-
Wirtschaft
Foreign Exchange
Open Economy Macroeconomics
International Financial Markets
- Thema
-
Microstructure
International finance
Liquidity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bjønnes, Geir Høidal
Rime, Dagfinn
Solheim, Haakon O. Aa.
- Ereignis
-
Veröffentlichung
- (wer)
-
Statistics Norway, Research Department
- (wo)
-
Oslo
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bjønnes, Geir Høidal
- Rime, Dagfinn
- Solheim, Haakon O. Aa.
- Statistics Norway, Research Department
Entstanden
- 2004
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