Course description
Currencies and Foreign Exchange Markets
Global trade, inflation and other drivers of FX rates
During the two-day training, you will explore the world of foreign exchange, study its market players and learn the specifics of FX products. We will start with the history of money, discuss the features of modern FX markets and its drivers and conclude with various FX derivative products that are available to investors.
There are no prerequisites for this course – even though some basic understanding of financial markets would be helpful, it is not required.
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Upcoming start dates
1 start date available
Suitability - Who should attend?
- Private traders and investors, looking to learn about currency markets.
- Professionals within the financial industry or those providing services to the financial sector.
- Professionals in non-financial industries performing financial functions, such as corporate treasury, accounting, and investor relations.
- Students, preparing for an upcoming internship or starting their careers in finance.
- Anyone working in or looking to understand FX markets.
Outcome / Qualification etc.
What will you learn?
By the end of the course, you will:
- Gain a solid understanding of foreign exchange markets, its major players and various FX products.
- Learn how to exploit the interest rate differential between two countries (and how it can be a bad idea to do so).
- Appreciate the impact of macroeconomic drivers on FX markets.
- Find out whether a strong or a weak currency is better for the country and its people.
- Understand what are currency wars and why governments engage in them.
- Explore why gold is considered a currency and why bitcoin may not be.
- Recognize how geopolitics impact global FX rates.
- Be able to explain how countries manage their currencies and analyze the effectiveness of each method.
- Identify how international corporations hedge their FX risk and learn the benefits and limitations of different strategies.
- Apply the theories of FX rate determination.
- And much more!
What will you get upon completion?
- Formal completion certificate.
- Course notes and materials.
- Follow-up support – ability to ask questions and seek further clarification, if needed.
- 20% OFF any future courses you wish to attend.
Training Course Content
Day 1:
- History and Key Functions of Money:
- Key requirements for a currency.
- The gold standard.
- Fiat currency.
- US Dollar.
- The Euro.
- Overview of Key Macroeconomic Concepts:
- GDP and economic growth.
- Inflation and deflation.
- Fiat currency.
- Current accounts and the balance of payments.
- Central Banks and the Federal Reserve.
- Foreign Exchange Markets:
- Exchange rate definitions.
- Mechanics and conventions.
- G10 and Emerging Market currencies.
- Floating and fixed currencies.
- Managed currency regimes.
- Spot and forward rates.
- Nominal, real and effective exchange rates.
- Carry trade.
- Interest Rates and Inflation:
- Central Bank rates.
- Interest rate expectations.
- LIBOR and EURIBOR.
- Nominal vs. Real interest rates.
- Interest Rate Parity.
- Breakeven inflation.
Day 2:
- FX Rate Determination:
- Purchasing power parity (PPP) theory.
- Absolute and relative PPP.
- Interest rate differential.
- Monetary models and domestic interest rate levels.
- Factors Influencing FX Rates:
- Imports and exports.
- Commodities and oil.
- Gold.
- Geopolitics and their effect.
- Impact of interest rates.
- Overview of World Currencies:
- US Dollar and the DXY Index.
- The Euro experiment.
- Impact of Brexit on the British Pound.
- Strength of the Japanese Yen and the Swiss Franc.
- Russian Ruble correlation with oil and the impact of sanctions.
- Bitcoin and cryptocurrencies.
- Why gold and silver considered currencies?
- Overview of FX Derivatives:
- FX forwards and futures.
- Non-deliverable forward (NDF).
- FX options.
- Forward extra.
- Delayed premium options.
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