风险声明：差价合约（CFD）是属于复杂的投资产品，因杠杆而存在快速亏损的高度风险。
交易前您应衡量是否了解差价合约以及是否能够承担发生亏损的高风险。
Web Trader MT5
全部
Cambist
A specialist in foreign exchange markets and international monetary transactions. It is an old term which comes from the days of bill-of-exchange trading in Renaissance Europe, but it is still used, especially in formal or technical contexts, to mean someone who knows a lot about currency markets, cross-rates, and the mechanics of FX settlement and documentation.
A cambist in the classical sense was a money changer who could calculate cross-rates between currencies, understand the discount and premium structures on forward contracts, and understand the complex documentation of international trade finance. The reference book for historical exchange rates and settlement conventions was actually entitled Cambist.
The word is sometimes used in modern times in institutional FX circles to describe someone who is a currency specialist with encyclopaedic knowledge of market conventions such as settlement dates, day-count conventions, fixing methodologies, and so on, that extends beyond just trading a price. It means a craftsman’s knowledge of the plumbing of the market.
Example: A corporate treasury team that enters into a cross-currency swap in Kenyan shillings and US dollars may rely on a cambist at its banking counterparty to understand the non-deliverable forward conventions applicable to the KES, the relevant fixing benchmarks and the documentation provisions under ISDA master agreements. But getting the structure right is almost more important than the price.
Cambodian Riel (KHR)
The official currency of Cambodia issued by the National Bank of Cambodia. The riel has been used since 1980, when it was re-established after the Khmer Rouge regime abolished money altogether during its rule. Notes are from 50 to 100,000 riel; there are no coins in practical circulation. The currency code is KHR, and it is subdivided into 100 sen, but sen only theoretically exist as no sen coins have been issued.
In practice, Cambodia’s economy is highly dollarised. Other than small everyday purchases, the US dollar is accepted for almost everything. The US dollar freely interchanges with the riel. This dual-currency reality means the National Bank of Cambodia has no independent monetary policy to speak of. It cannot set interest rates meaningfully when the dominant transactional currency of the economy is controlled from Washington.
The riel is quoted at around 4,000 to 4,100 to the dollar, and has been remarkably stable in that range for decades, more due to dollarisation than active management.
Example: A tourist in Phnom Penh pays for a meal at a restaurant that costs $12 in dollars, and gets back change partly in dollars and partly in riel at the local rate. The riel works nicely as the petty-cash infrastructure of a dollar economy, suitable for amounts too small to break a dollar bill and rarely used for anything larger.
Canadian dollar
Legal tender in Canada, issued by the Bank of Canada and subdivided into 100 cents. The ISO code is CAD; the symbol is $ or C$ when disambiguating from the US dollar. It is also known as the loonie among the currency traders.
Canada operates a floating exchange rate, though the Bank of Canada indirectly influences it by setting the policy rate. Two main forces drive the behavior of the currency, and these include the economy of the US (Canada exports about 75% of its exports south of the border, so USD/CAD is not really a bilateral rate; it is more of a proxy of how much Canada is dependent on the American demand) and commodity prices mainly oil and metals.
The Canadian dollar will perform better in a global risk-on environment and during commodity supercycles, and worse in a global risk-on environment that is also experiencing a commodity supercycle. The combination of that is not frequent but vicious when it occurs.
Example: The Canadian dollar rising during the 2003-2008 commodity boom to a value just over one US dollar was the first time in 30 years that the Canadian dollar had exceeded one US dollar, powered by oil over 140, powerful metals demanded by China, and a weak US dollar. The parity moment topped the front page of Canadian news. To the FX traders, the crude chart had been telegraphing that it would happen in two years.
Canadian Dollar (CAD)
Canada’s official currency, which is issued by the Bank of Canada, is divided into 100 cents. Known universally as the loonie among traders, after the common loon on the one-dollar coin. The standard quote is USD/CAD, dollars per loonie. So, a rising rate means a weaker Canadian dollar. The opposite is true for most major pairs where USD is the second currency.
CAD is a textbook commodity currency. Canada’s export mix is dominated by crude oil, natural gas, lumber, and metals, so the loonie has a well-documented, persistent positive correlation with oil prices. Energy markets rally, USD/CAD usually falls (loonie strengthens). When crude goes down, so does the loonie. For energy market traders, it can be risky to ignore the FX leg.
The US-Canada trade relationship is so dominant. Around 75% of Canadian exports go south of the border. That USD/CAD also serves as a proxy for relative US-Canada economic performance. A slowing US economy hits Canadian export revenues quicker than almost any other transmission channel.
Example: During the oil price collapse of 2014-2016, USD/CAD moved from around 1.06 to 1.46. The loonie moved lower with mechanical reliability for every dollar crude fell. Macro traders who caught the oil breakdown early and played it through CAD shorts were able to play a multi-year trend in a more liquid instrument than oil futures themselves.
Candlestick Chart
A price chart which shows four points of data (one per time period): the open, high, low, and close. The thick body of the candle represents the open-to-close range, and the thin wicks above and below show the high and low. A green (or white) body indicates that close was higher; a red (or black) body indicates that close was lower. And that is all that there is of the structure.
Candlesticks were used in 18th-century Japan by rice merchants to monitor commodity prices. They are usually attributed to Munehisa Homma’s development. They were introduced to Western financial markets in the 1990s by Steve Nison and have since replaced bar charts as the dominant chart type on most trading platforms.
It is not the candle by itself that is valuable, but rather the connection between the successive candles. Efforts to interpret buying and selling pressure using candlestick patterns include the doji, hammer, engulfing, and morning star. It is controversial whether the patterns have predictive power. It is more difficult to refute the fact that they summarise the psychological battle between buyers and sellers during each session.
Example: A weekly candlestick on the Nifty 50 with a small body near the top of a very long lower wick is known as a hammer. The wick shows the sellers had a hard push on the price downward during the week; the close near the high shows the buyers had a hard push on the price downward. Traders interpreted this as a possible reversal indicator when it occurs after a long-term decline and on high volume.
Capacity Utilization
A measure of how fully the productive capacity of an economy or industry is being used at any time as a percentage of the maximum sustainable output. The US Federal Reserve issues a monthly report on Capacity Utilization, covering manufacturing, mining, and utilities. A reading of 80% means the industry is running at four-fifths of what it could theoretically produce if pushed to its limits.
The indicator is important for two reasons. First, it is a leading indicator of inflation pressure. The capacity utilisation rises to around 85%, and above producers start to run into physical and labour constraints. This means producers have pricing power. They can raise prices because buyers have nowhere else to go. Central banks track it as a measure of how much slack there is still left in the economy. Second, it signals possible capital expenditure. Companies with high utilisation tend to invest in new capacity; those running well below it do not.
One of the clearest real economy confirmations that demand has actually collapsed is the falling capacity utilization during recessions.
Example: In the 2008-09 recession, US capacity utilisation dropped from 77% to below 65%, the lowest reading on record. That figure told economists precisely why deflation was more of a worry than inflation in the years of recovery. Factories operating at 65% don’t raise prices. They lower prices to get volume back.
我们使用cookies以了解您如何使用我们的网站并尽可能为您提供优质体验。您可访问我们的Cookie政策以了解更多信息。
