LETTER-X

XAG

Silver Exchange Rate (ISO)

XAU

Gold Exchange Rate (ISO)




LETTER-Y

Yard

A slang word used in the currency industry meaning 'billion'.

Year To Date - YTD

The period beginning January 1st of the current year up until today's date.

Yield

Annual income earned from an investment, expressed usually as a percentage of the money invested.

Yield Curve

In finance, the yield curve is the relation between the interest rate (or cost of borrowing) and the time to maturity of the debt for a given borrower in a given currency.For example, the current U.S. dollar interest rates paid on U.S. Treasury securities for various maturities are closely watched by many traders, and are commonly plotted on a graph such as the one on the right which is informally called "the yield curve."


LETTER-Z

Z-Certificate

Certificate issued by the Bank of England to "discount houses" in lieu of stock certificates to facilitate their dealing in the short dated gilt edge securities.


Zero Coupon Bond

A bond that pays no interest. The bond is initially offered at a discount to its redemption value.

ZEW

Zentrum für Europäische Wirtschaftsforschung (German: Centre for European Economic Research)


ZEW Indicator of Economic Sentiment

Experts are asked for a qualitative assessment of the direction of inflation, interest rates, exchange rates and the stock market in the next six months. Thus the indicator provides a medium-term forecast for the German economy.


ZEW Survey - Euro Zone

A German Firm, the Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about Germany 's economic situation. They ask experts to evaluate the current situation and to predict the future direction of the economy. For all components of the survey, responses are restricted to positive, negative, or unchanged. This simple structure allows the survey to be quick and efficient in terms of turnaround time, as well as easy to understand and interpret.
The first currency quoted in a currency pair on forex. It is also typically considered the domestic currency or accounting currency. For accounting purposes, a firm may use the base currency to represent all profits and losses.