Determinant of Forex Rolling Spot Contracts on Indonesia Commodity and Derivative Exchange (ICDX)
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 08
Abstract
One of the derivative futures contract types is the Forex Rolling Spot Contracts (FRSC) traded in the Indonesia Commodity and Derivatives Exchange (ICDX). So far, no research has been conducted on this product type, which can be used as an investor reference. This study aims to find empirical evidence of how far macroeconomic variables affect the returns of ten FRSC investment instruments: AUD/USD, EUR/USD, GBP/USD, USD/JPY, USD/CHF, GBP/JPY, EUR/JPY, AUD/NZD, NZD/USD, and USD/CAD traded at ICDX during the period 2021 - 2022. The statistical analysis method used in this research is quantitative with descriptive explanations. Data collection techniques were obtained from secondary data through library research. Secondary data was obtained through the internet sites of ICDX, Indonesia Stock Exchange (IDX), Bank Indonesia, London Bullion Metal Association, Bloomberg, and the US Energy Information Administration. The analytical method used in this study is panel data analysis. The study type was an explanatory study with data processing using the STATA application. The study results showed that the determinant of interest rate and inflation did not affect FRSC return; JCI return and gold price return had a significant positive on FRSC return; bond index return and crude oil price return had a negative effect on FRSC return.
Authors and Affiliations
Dr. Andam Dewi Syarif, MM, Najim Nur Fauziah, SE, MSc. IBF
Keywords
Related Articles
- EP ID EP727304
- DOI 10.47191/jefms/v6-i8-41
- Views 68
- Downloads 0
The Influence of Investment Decisions, Funding Decisions, and Macroeconomics on Company Value in State-Owned Enterprises Listed on the Indonesia Stock Exchange, with Financial Risk and Profitability as Intervening Variables
Investors find it very appealing to invest in the form of shares for State-Owned Enterprises (BUMN) because these businesses have capital that is entirely or largely owned by the government. Not affected by the Covid-19...
The Influence of Strategy Policy and Strategy Planning and Budgeting on the Effectiveness of Lng Tangguh Corporate Social Responsibility for the Welfare of the People of West Papua Mediated by Good Corporate Governance
As we all know, the Land of Papua is one of the areas in Indonesia that has abundant natural resources. But apart from all that, the development of the Papua region actually seems slower than other regions. The provinces...
Analysis of Exports, Inflation, Exchange Rates, Interest Rates on Foreign Exchange Reserves: ARDL Approach
The purpose of this study is to describe how inflation, interest rates, exports, and currency exchange rates affect Indonesia's foreign exchange reserves in the short and long run. In order to investigate short-term rela...
Joint Consultation as a Determinant of Job Satisfaction in the Insurance Sector
The urge for employees to have a voice in decision making process at workplace has made joint consultation imperative. This study examined joint consultation as a determinant of job satisfaction in the insurance sector....
The Role of the Intellectual Capital Dimension in Improving Employee Performance Through Work Motivation
Currently, the government continues to strive to provide optimal quality of service to the community through improving the quality of employee performance. Given the importance of employee performance, this study has the...