The Essex Finance Centre (EFiC) warmly invite you to join guest speaker Professor Alexander Kurov from John Chambers College of Business and Economics at West Virginia University.
This seminar is brought to you by the Essex Finance Centre (EFiC) with guest speaker Professor Alexander Kurov from the John Chambers College of Business and Economics at West Virginia University. This seminar aims to explore Professor Kurov's research into release policies and pre-announcement informed trading.
In 2017, the UK statistics authority discontinued the early access of government officials to market-sensitive macroeconomic data.
The research presented in the seminar examines the effect of this change on the price adjustment in the foreign exchange futures market around major UK macroeconomic announcements.
Three macroeconomic indicators (consumer prices, industrial production, retail sales) showed strong evidence of informed trading before their public release until 2017. This pre-announcement price drift weakens, however with the end of the pre-release access.
Analogously, the market reaction to announcements at the official release time has become stronger.
This seminar is free to attend with no booking in advance. Please encourage your friends, colleagues and classmates to come along.
Professor Alexander Kurov is the Fred T. Tattersal Research Chair in Finance at the John Chambers College of Business and Economics at West Virginia University.
Professor Kurov's research interests are in the financial market efficiency, future markets and commodity markets.
His work examines price discovery, informed trading and the effect of public announcement on asset prices.
Professor Kurov's research has been published in the following scholarly journals:
His research has also featured prominently in international media such as:
Professor Kurov is also an associate editor of the Journal of Commodity Markets and holds the Chartered Financial Analyst designation.