This study uses daily foreign exchange (FX) rate changes in China, Japan, and Brazil from 2000 to 2022 to examine the predictability of FX returns. I ob serve mu ltiple Bloomberg signals with statistically significant return-forec asting power to the FX returns. These signals can be divided into three groups: macroeconomic, investor sentiment, and stock market related. This study adds to the empirical understanding of how country-level economic indicators can forecast FX returns.
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