2019年大学核心商务英语读写教程3Unit 10 Foreign Currencies and Exchange Rates.ppt
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1、,UNIT TEN Foreign Currencies and Exchange Rates,Objectives,To get familiar with business writing,To know something about foreign exchange,To learn new words and expressions,To master how to analyze difficult and long sentences,1. Background Information,2. Introduction to the Text,3. Business Terms,4
2、. Words and Expressions,5. Notes to the Text,Text A Foreign Exchange Market,The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. Financial centers around the world function as anchors of trading betw
3、een a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies. The foreign exchange market is different from any other financial market. The foreign exchange market rate a
4、nd the magnitude of fluctuations in the financial sector are second to none.,1. Background Information,Theme of the Text Text A mainly explains the elements of foreign exchange market: the market size and liquidity, market participants, banks, commercial companies, investment management firms, hedge
5、 funds, retail foreign exchange brokers and some financial instruments.,2. Introduction to the Text,本商务语篇为说明文体。,详细介绍了外汇及外汇市场的具体内容,解释了外汇、外汇市场的定义及本质特征,介绍了外汇市场规模和流动性、中央银行、对冲基金、投资管理公司及金融工具在外汇市场中的功能与作用。,商务英语语言的最显著的特点就是它是商务实践、商务理论知识的载体, 用词具有明显的专业性。本商务语篇与外汇及外汇市场密切相关, 多用专业词汇。本文商务语言准确、确凿、严谨,趋于高度的专业化。此外,本语篇语言
6、清晰准确,行文简洁,用语礼貌正式的特点使读者十分准确地掌握了外汇及外汇市场的相关信息。,文体特征分析,2. Introduction to the Text,The foreign exchange market is Over the Counter (OTC) or inter-bank market because foreign currency is traded through phone or electronic trading net in fact, the trading of foreign currency does not like stock trade, it
7、is not intensive trading in exchange center.,The foreign exchange market 外汇市场,3. Business Terms,The simultaneous sale (or purchase) of a financial instrument and the taking of an equal and opposite position in a similar instrument is to provide a profit. That is, exploiting pricing differences (anom
8、alies) across markets. True arbitrage is risk free. In economics and finance, arbitrage is the practice of taking advantage of a price differential between two or more markets.,Arbitrage 套利,3. Business Terms,BIS (Bank for International Settlements) 国际清算银行,Bank for International Settlements are a con
9、sortium of the Central Banks of England, French, German, Italian, Belgium, Japan and other countries and representatives of the interests of U.S. banks such as JP Morgan, Citibank New York and Chicago. According to the Hague Agreement,BIS established its headquarters in Basel, Switzerland in May 193
10、0 together with only seven members, now it has grown to 45 members.,3. Business Terms,The foreign exchange market is Over the Counter (OTC) or inter-bank market because foreign currency is traded through phone or electronic trading net in fact, the trading of foreign currency does not like stock tra
11、de, it is not intensive trading in exchange center.,spot exchange rate 即期汇率,3. Business Terms,the forward exchange market is a market for contracts that ensure the future delivery of a foreign currency at a specified exchange rate. The price of a forward contract is known as the forward rate.,forwar
12、d exchange 远期汇率,3. Business Terms, speculator /spekjuleit/ n.,ere,Meaning,4. Words and Expressions,Example,a person who buys goods, property, money, etc. in the hope of selling them at a profit,He is speculator who hold up customers. 他是个向顾客索取高价的投机商人。 These houses were built by property speculators.
13、这些房屋是由地产投机商建造的。,(2) liquidity /likwiditi/ n.,ere,Meaning,4. Words and Expressions,Example,being in cash or easily convertible to cash; debt paying ability,liquidity analysis 流动性分析; liquidity ratio 流动性比率 The demand for and the supply of credit is closely linked to changes in liquidity. 信用的供求和流动资金的变化有
14、密切关系。,(3) speculative /spekjultiv/ a.,ere,Meaning,4. Words and Expressions,Example,bought or done in order to make a profit in the future,black market speculative trading 黑市投机买卖 speculative ventures in real estate 房地产投机生意 His conclusions are purely speculative. 他的结论完全是推测而来的。,(4) facilitate /fsilitei
15、t/ vt.,ere,Meaning,4. Words and Expressions,Example,to make possible or easier,Modern devices facilitate domestic work. 现代设备使家务活便利了。 Zip codes are used to facilitate mail service. 邮政编码方便了邮递服务。,(5) overwhelm /uvhwelm/ vt.,ere,Meaning,4. Words and Expressions,Example,to defeat someone or something by
16、using a lot of force,No difficulty can overwhelm us. 困难压不倒我们。 If I cannot overwhelm with my quality, I will overwhelm with my quantity. 如果我不能以质量取胜,我就一定要以数量取胜。,ere,Meaning,4. Words and Expressions,Example,a (system of) payment to someone who sells goods which is directly related to the amount of good
17、s sold,Buying commission 代购佣金 Selling commission 代销佣金,(6) commission /kmin/ n.,Meaning,4. Words and Expressions,Example,the educator who has executive authority for a school;the major party to a financial transaction at a stock exchange; buys and sells for his own account,an acting principal 代理校长 Th
18、e agent spoke on behalf of his principal. 代理人代表他的委托人说话。,(7) Principal /prinspl/ n.,ere,Meaning,4. Words and Expressions,Example,belonging to a thing by its very nature,Distinguish between extrinsic and intrinsic motivation. 区分外部激励和内部激励。 The character is intrinsic. 性格是内在的。,(8) intrinsic /intrinsik/ a
19、.,ere,Meaning,4. Words and Expressions,Example,the act of transacting within or between groups (as carrying on commercial activities),cash transaction 现款交易 stock transaction 股票交易 credit transaction 赊账交易,(9) transaction /trnzkn/ n.,ere,Meaning,4. Words and Expressions,Example,被分成,Chapter One can be d
20、ivided into several sections. 第一章可分为若干小节。 The investigator will be divided into three groups. 所有的调查员将被分为三个小组。,(10) be divided into,ere,Meaning,4. Words and Expressions,Example,(在数量方面)占,Today, their products account for a quarter. 如至,他们的产量已占全球总产量的四分一。,(11) account for,ere,Meaning,4. Words and Express
21、ions,Example,to ones advantage 对某人有利,Declare in favor of sth. 声明赞成某事 An error in our favor. 对我方有益的错误,(12) in ones favor,释义 Today, speculation, arbitrage and professional dealing are driving an enormous proportion of FX market activity. Currencies are traded like any other commodity in speculation, a
22、rbitrage and professional dealing.,1. Today, an enormous proportion of FX market activity is being driven by speculation, arbitrage and professional dealing, in which currencies are traded like any other commodity.(Para.1),5. Notes to the Text,解析 本句是被动语态的现在进行时,施动者由介词短语by speculation, arbitrage and p
23、rofessional dealing 来表示。in which 引导的定语从句修饰其前面的speculation, arbitrage and professional dealing。,解析 本句主语是It,有两个并列的谓语动词is和includes。其中in terms of意为:就而言, 从方面说来;betweenand意为:与之间。,2. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, centr
24、al banks, currency speculators, multinationals, governments, and other financial markets and institutions.(Para.1),5. Notes to the Text,释义 In terms of cash value traded, it is by far the largest market in the world. It includes trading between large banks, central banks, currency speculators, multin
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