Futures and Forex Glossary Dictionary B1
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Place where data pertaining to financial transactions of forex and futures is processed.
BacktestingTesting a particular trading strategy on past data, to evolve a future prognosis as most technical analysis is done. This obviates the need to test a particular strategy over a forthcoming period of time as it would require more time. Related Terms: Data Mining, Autoregressive
BackwardationFutures price being lower in far away delivery months than in the near delivery months. Opposite of contango Related Terms:Contango
Balance of TradeA country’s exports minus imports.
BandPrice spectrum in which a country’s exchange rate is allowed to fluctuate. It is applicable for currencies whose rates are pegged
Bank for International Settlements (BIS)The oldest financial institution founded in 1930, and the principal architect of global financial markets headquartered in Basel, Switzerland, known as a bank for central banks. The International Monetary Fund’s (IMF’s) special drawing rights form the BIS’s unit of accou
Bank of Canada (BOC)Headquartered in Ottawa, it is the Central Bank of Canada responsible for monetary policy and issuing bank notes in Canada. Related Terms: Canadian Dollar
Bank of Japan (BOJ)Central bank of Japan headquartered in Tokyo.
Bank RateThe interest rate at which a central bank lends money to domestic banks coming under its purview.
Banking DaySchedule of working days of commercial banks in a country.
Bar chartsA tool for evaluating price action of currency pairs.
Base currencyThe currency against which exchange rates are quoted. It is usually the first currency in a particular currency pair. Example: In the EUR/USD, the euro is the base currency.
Basis PointA unit that denotes price changes in financial instruments for purposes of calculating interest rates, yield of securities etc. It is equivalent to 1% or 0.0001.
Basket of USD ShortsThose transactions where USD is sold against other currencies.
BearA presumptive trader who expects currency prices to fall.
Bear Market (Bear/Bearish)A prolonged period of falling prices of an asset.
Bid (Forex)The price at which an investor is prepared to buy a currency pair. Also called ‘bid price” and ‘Bid rate” .Also known as Bid/Ask spread. Related Terms: Bid/Ask Sp
Bid (Futures)The price at which an investor is prepared to buy a futures contract.