الموارد

HARD CURRENCY

A freely convertible currency that is not expected to depreciate in value in the foreseeable future.

HEAD AND SHOULDERS

A technical analysis term referring to a chart formation in which a price exhibits three successive rallies, the second one being the highest. The name derives from the fact that on a chart the first and third rallies look like shoulders and the second looks like a head. Bearish indicator.

HEDGE

An investment made in order to reduce the risk of adverse price movements in a currency or security, by taking an offsetting position in the same or a related instrument.

HEDGED PORTFOLIO

A portfolio consisting of a long and short (put option) position in the underlying instrument HEDGE FUND A fund that may employ a variety of techniques to enhance returns.

HEDGE FUND

A fund that may employ a variety of techniques to enhance returns.

HIBOR

Hong Kong Inter-bank Offered Rate.

HISTORICAL VOLATILITY

The historical rate at which the price of an underlying currency or security moves up and down.

HOLDER

Buyer.

HORIZONTAL SPREAD

The simultaneous purchase and sale of two options that differ only in their expiration dates.

HOUSING STARTS

A measure of the number of residential units on which construction is begun each month.

HYPERINFLATION

Very high and self sustaining inflation levels.