Abstract:
Purpose
The purpose of this research paper is to identify the impact of United States
macroeconomic variables, as the affecting factors, toward the five major currencies,
and compare the impacts between the five major currencies.
Methodology
This research paper is a quantitative analysis which uses secondary data as its basis
of analysis that is regressed through linear multiple regression. Classical
assumption tests, T-Test, and F-Test are performed to figure out the significance of
Advanced Retail Sales, Core Durable Goods Order, ISM Manufacturing PMI, and
Unemployment Rate as the independent variables used toward Exchange Rate as
the dependent variable for five major currencies.
Findings
The results show that the independent variables all together are significant toward
exchange rate. However, individually, not all of them are significant toward the
exchange rate depending on the selected currency.
Originality/value
Author believes that this is the first study trying to compare the impacts of United
States Macroeconomic variables towards five major currencies (GBPUSD,
USDJPY, EURUSD, AUDUSD, and USDCHF). This is also the first study to only
take Advanced Retail Sales, Core Durable Goods Order, ISM Manufacturing PMI,
and Unemployment Rate into account basing itself on forexfactory.com as the
primary fundamental news of PT. Agrodana Futures.
