TY  - JOUR
U1  - Wissenschaftlicher Artikel
A1  - Hossfeld, Oliver
T1  - Do speculative traders anticipate or follow USD/EUR  exchange rate movements? New evidence on the efficiency of the EUR currency futures  market
N2  - We analyze whether various types of speculative iestor correctly anticipate future USD/EUR currency movements or whether they tend rather to react to past exchange rate movements. In contrast to earlier studies, we account for the large number of tests conducted by comparing results based on individual significance tests with those based on controlling the false discovery rate (FDR) or the family-wise error rate (FER). While the evidence for speculative positions leading exchange rate movements, and therefore an inefficient EUR currency futures market, largely collapses if we account for multiple testing, such a pattern does not emerge in the other direction.
Y1  - 2016
UR  - https://www.sciencedirect.com/science/article/pii/S1544612316300563
N1  - In: Finance Research Letters, 18 (2016) August, 218-225
ER  -