交易术语表A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z-EEarnings per share 每股收益 每股收益 (EPS) 是一家公司的净利润除以已发行股票的数量。是一种通常用于衡量公司盈利能力的工具。 EBITDA 息税折旧摊销前利润息税折旧摊销前利润（扣除利息、所得税、折旧、摊销之前的利润）是一种评估公司业绩的方式。净收入的替代衡量标准。 ECB 欧洲央行欧洲央行代表欧洲中央银行，是欧元区的中央银行。Equity 权益权益在交易中可以有多种不同的含义，但它通常指的是没有任何债务的资产的所有权。Equity options 股票期权股票期权是赋予持有人权利（而非义务）的合同，可以在到期日之前以指定价格买卖标的证券的股票。 ETF 交易所交易基金ETF代表交易所交易基金，是一种在证券交易所交易的基金。 ETP 交易平台 ETP 代表交易所交易产品，是在证券交易所公开交易的金融产品类型。Eurobond 欧洲债券欧洲债券是以本国货币（发行市场或国家）以外的货币计价的债务产品。有时称为外部债券。 Eurodollar Bonds 欧洲美元债券欧洲债券的一种，欧洲美元债券以美元计价，但在美国境外出售。可以销往世界各地。Exotics 奇异货币奇异货币是指交易不太活跃的货币。Exchange 交易所交易金融产品的开放市场。交易所也被称作“市场”。Execution 执行由经纪人执行和完成的来自交易员的订单买卖。Expiry date 到期日交易头寸自动平仓的那一天。Expiry 到期（期货合约）期货合约的到期日是您可以交易该合约的最后一天。 Exposure 风险敞口风险敞口可能是在交易中会发生的任何事。它可以是投资于某种资产的资金数额，也可以是投资者未平仓交易的总市值。或是任何特定时间段内潜在的风险总量。
By
GO Markets
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免责声明：文章来自 GO Markets 分析师和参与者，基于他们的独立分析或个人经验。表达的观点、意见或交易风格仅代表作者个人，不代表 GO Markets 立场。建议，（如有），具有“普遍”性，并非基于您的个人目标、财务状况或需求。在根据建议采取行动之前，请考虑该建议（如有）对您的目标、财务状况和需求的适用程度。如果建议与购买特定金融产品有关，您应该在做出任何决定之前了解并考虑该产品的产品披露声明 (PDS) 和金融服务指南 (FSG)。
交易术语表A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z-EEarnings per share 每股收益 每股收益 (EPS) 是一家公司的净利润除以已发行股票的数量。是一种通常用于衡量公司盈利能力的工具。 EBITDA 息税折旧摊销前利润息税折旧摊销前利润（扣除利息、所得税、折旧、摊销之前的利润）是一种评估公司业绩的方式。净收入的替代衡量标准。 ECB 欧洲央行欧洲央行代表欧洲中央银行，是欧元区的中央银行。Equity 权益权益在交易中可以有多种不同的含义，但它通常指的是没有任何债务的资产的所有权。Equity options 股票期权股票期权是赋予持有人权利（而非义务）的合同，可以在到期日之前以指定价格买卖标的证券的股票。 ETF 交易所交易基金ETF代表交易所交易基金，是一种在证券交易所交易的基金。 ETP 交易平台 ETP 代表交易所交易产品，是在证券交易所公开交易的金融产品类型。Eurobond 欧洲债券欧洲债券是以本国货币（发行市场或国家）以外的货币计价的债务产品。有时称为外部债券。 Eurodollar Bonds 欧洲美元债券欧洲债券的一种，欧洲美元债券以美元计价，但在美国境外出售。可以销往世界各地。Exotics 奇异货币奇异货币是指交易不太活跃的货币。Exchange 交易所交易金融产品的开放市场。交易所也被称作“市场”。Execution 执行由经纪人执行和完成的来自交易员的订单买卖。Expiry date 到期日交易头寸自动平仓的那一天。Expiry 到期（期货合约）期货合约的到期日是您可以交易该合约的最后一天。 Exposure 风险敞口风险敞口可能是在交易中会发生的任何事。它可以是投资于某种资产的资金数额，也可以是投资者未平仓交易的总市值。或是任何特定时间段内潜在的风险总量。
交易术语表A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z-CCable 电缆外汇中的电缆是英镑/美元货币对的别称，是市场上最受欢迎的货币对之一。 Calendar Spread 日历价差日历价差是一种交易技术，它包括在一个月内购买一项资产的衍生品，并在另一个月出售同一资产的衍生品。日历价差代表同一资产从一种期货合约到另一种期货合约的价格差异。 Call option 看涨期权看涨期权是在特定日期之前以给定价格购买资产的期权。Capital expenditure 资本支出花费在有形资产的资金。 Capital gains 资本收益资本收益是当资产的售价超过原始购买价时，从资产买卖中获得的利润。Capital gains tax 资产增值税资产增值税（或 CGT）是政府对出售的任意金融资产所得利润征收的税。 Capital loss 资本损失与资本增值相反。指当资产的售价低于持有者用于购买该资产的原始成本。 Cash flow 现金流现金流是公司资金流入和流出的数量，以及由此产生的可用现金。它可以是单个项目或整个企业的。Cash Price 现金价格不要与即时价格或现货价格混淆，现金价格是指为立即交付的商品或资产而支付或收取的价格。越接近现货期货合约的到期日，现货价格和现货期货价格应该越接近。Cash rate 现金利率现金利率也称为银行利率或基准利率，是中央银行向其他银行贷款收取的利率。 Chartist 图表交易员图表交易员主要依靠图表来帮助他们理解历史数据，以便更好地推测未来的价格走势。也通常被称为技术分析师或技术交易员。Closing price 收盘价交易日结束时金融市场上证券的价格。收盘价可以用作在查看长期历史走势时的标记，或与开盘价进行比较，以回顾一天内的走势。 Commission 佣金佣金是投资经纪人代表客户进行交易而收取的服务费。 Commodity 大宗商品大宗商品是一种可以买卖的基础实物资产。通常是用于生产其他商品或服务的原材料中的一类。Contracts for difference 差价合约差价合约 (CFD) 是一种金融衍生品，其收益或损失基于合约开仓和平仓时的资产价格差异。这是一种以现金结算开盘价和收盘价之间的价格差额，并且没有实物商品或证券交付的结算方案。Contract (Lot)成交单位（手数） 手数是一个交易单位，代表固定数量的特定资产。外汇市场的标准手数为 100,000 美元。一迷你手为 10,000 美元。Convexity 凸性债券凸性是衡量债券价格和债券收益率之间“曲线程度”或差异的指标。它是一种风险管理工具，用于评估利率上升或下降可能对债券价格产生的影响——这突出了债券持有人的风险敞口。Contango 期货溢价通常在市场供应充足时看到，期货溢价是指商品或证券的期货价格高于现货价格（现价）。此时可以通过预计较高的期货合约价格以反映商品的持有成本。Cost of carry 持有成本持有成本是持有头寸所需的额外资金数额。这可能包括隔夜融资费用、利息费用或在交割期货合约时存储任意大宗商品的成本。这些费用是交易时的重要考虑因素，因为它们会影响净回报。 Covered call 备兑看涨期权备兑看涨期权是一种看涨期权交易策略，即持有可交易资产的现有多头头寸，并针对同一资产出售（卖出）看涨期权以产生额外收入。目的是增加交易者可获得的整体利润。CPI 消费者物价指数 CPI代表消费者物价指数，衡量美国消费者每月支付的平均价格的变化。 Crystallisation 结晶交易结晶交易是通过卖出头寸并立即重新开仓来获得盈利或产生亏损的行为。 Currency appreciation 货币升值一种货币相对于另一种货币的增值。外汇交易中一种货币的“走强”意味着购买它会花费更多，或者它可以在卖出时购买更多的另一种货币。Currency depreciation 货币贬值在浮动汇率制度中，一种特定货币相对于另一种货币的贬值。在浮动汇率制度中，一种货币的价值根据外汇市场的供需关系决定。Currency peg 货币挂钩一种货币的固定汇率，由国家政府或中央银行设定。有时也被称为固定汇率或“挂钩”。Currency Swap 货币互换有时又称为交叉货币互换，这是一种两方之间以两种不同货币的本金和固定利率利息支付交换为双方商定的交换汇率的协议。
交易术语表A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z-DDark pools 暗池暗池是一个私人组织的金融论坛或证券交易场所。它们允许机构投资者在交易执行和报告之后进行无风险交易。Day order 当日指令当日指令是指向经纪人发出的以特定价格执行交易的订单准备金，该指令在交易日结束时到期。Day trading 日内交易日内交易涉及在收市前买卖股票，以赚取短期利润。Debt ratio 资产负债率资产负债率用于与资产价值对比以表明公司持有多少债务。它也可以应用于个人：即为个人债务的应计费用与每年总收入的比值。Delta 德尔塔值德尔塔值也被称为对冲比率，是期权交易中使用的一种衡量标准，用于评估期权合约的价格如何随着标的资产价格的变动而变化。Depreciation 贬值一件资产价值的下降被定义为贬值。它可能由市场环境或其他因素造成，如磨损和折旧。与升值相反。Derivative 衍生品衍生品是从标的资产的价格中获取价值的金融产品。交易员经常使用衍生品作为一种工具来推测资产的未来价格走势，无论是上涨还是下跌，都无需购买资产本身。Direct market access (DMA) 直接市场准入 (DMA) 直接市场准入 (DMA) 是一种将交易直接放置在交易所订单簿上的方式。因此，直接市场准入在交易时为交易者提供了灵活性和透明度。但由于其中的风险和复杂性，通常仅建高阶交易员使用。Dividend 股息企业选择按百分比返还给股东的一部分利润称为股息。股息通常每季度支付一次，但在某些情况下，也会每年甚至每月支付一次，具体取决于公司政策。
As geopolitical narratives continue to simmer, US and European markets move into the rest of the week with three dominant drivers: US inflation data, the start of US earnings season, and an unusual Fed-independence headline risk after the DOJ subpoenaed the Federal Reserve.
Quick facts:
US consumer price index (CPI) and producer price index (PPI) are the key macro releases and are likely to impact the US dollar (USD) and other asset classes if there is a significant move from expectations.
JPMorgan reports Tuesday, with other major US banks through the week, as the Q4 reporting season gets underway.
Reporting around DOJ action involving the Fed, and Chair Powell’s prior testimony, created early market volatility on Monday, with markets sensitive to anything that may be perceived as undermining Fed independence.
President Trump announced this morning that any country doing business with Iran will face a 25% tariff on all business with the US, effective immediately.
Europe’s production and growth updates, including Eurozone industrial production and UK monthly GDP and trade data, are later in the week.
United States: CPI, Fed path, DOJ and Fed headline risk, and banks leading earnings
What to watch:
The US is carrying the highest event density in global data releases this week. CPI and PPI will both be watched for moves away from expectations.
Any meaningful surprise can shift Fed policy expectations. Markets are currently pricing a lower likelihood of a March rate cut (under 30%) than this time last week, based on fed funds futures probabilities tracked by CME FedWatch.
Bank earnings may set the tone for the reporting season as a whole. Forward guidance is likely to be as important as Q4 performance, with valuations thought to be high after another record close in the S&P 500 overnight.
Key releases and events:
Tue 13 Jan (Wed am AEDT): CPI (Dec) (high sensitivity)
Tue 13 Jan (Wed am AEDT): JPMorgan earnings before market open (high sensitivity for banks and risk tone)
Wed to Thu: additional large-bank earnings cluster (high sensitivity for financials sentiment)
Wed 14 Jan (Thu am AEDT): US PPI
Thu 15 Jan (Fri am AEDT): US weekly unemployment
Throughout the week: Fed member speeches
How markets may respond:
S&P 500 and US risk tone: US indices are near record levels. The S&P 500 closed at 6,977.27 on Monday. Hotter-than-expected inflation can pressure growth and small-cap equities in particular, and weigh on the market broadly. Softer inflation can support further risk-on behaviour.
USD: Inflation data is the obvious driver this week for the greenback, but any continuation of DOJ and Fed developments, or geopolitical escalation, may introduce additional USD influences.
With the USD testing the highest levels seen in a month, followed by some light selling yesterday, some volatility looks likely. Gold has also been bid as a potential safety trade and hit fresh highs in the latest session, suggesting demand for defensive exposure remains present.
Earnings (banks): In a market already priced near highs, results can still create volatility if they are not accompanied by supportive earnings per share (EPS), revenue and forward guidance. Financials will likely see the first-order response, but any early pattern in results and guidance can influence the broader market beyond the first few days.
UK and Eurozone: growth data influence amid continuing equity strength
What to watch:
In a week where Europe may be driven primarily by events in the US and geopolitical narrative, the Eurozone industrial production print is still a noteworthy local release.
In the UK, monthly GDP and trade numbers on Thursday may influence both the FTSE 100 and the pound, particularly if there is any meaningful surprise.
Key releases and events:
Eurozone
Wed 14 Jan: Eurozone industrial production (Nov 2025) (medium sensitivity for cyclical sectors)
UK
Thu 15 Jan: GDP monthly estimate (Nov 2025) (high sensitivity for GBP and UK rate expectations)
Thu 15 Jan: UK trade (Nov 2025) (low to medium sensitivity)
How markets may respond:
EUR spillover from the US: Despite light Eurozone data, the US response is likely to matter most this week, with the US dollar index a major driver of broader G10 FX direction.
DAX (DE40): Germany’s index is also trading at or near record levels and closed at 25,405 on Monday. (2) If the index is extended, it may react more to global rate moves and shifts in perceived risk.
FTSE 100 and GBP: The FTSE hit a new high in the overnight session, driven particularly by materials and mining stocks. (5) Any GDP surprise can re-price GBP and UK equities quickly in an environment where growth concerns persist.
Wed 14 Jan: US CPI, US bank earnings kick-off (notably JPMorgan)
Wed 14 Jan: Eurozone industrial production (Nov 2025)
Thu 15 Jan: UK monthly GDP (Nov 2025) and UK trade (Nov 2025), US bank earnings continue
Fri 16 Jan: US weekly unemployment, US bank earnings continue
Bottom line
If US CPI surprises higher, markets may lean toward higher-for-longer interest rate pricing, which can pressure equity multiples and lift rates volatility.
If bank earnings are solid but guidance is cautious, equities can still see two-way swings given index levels near records and high valuations.
If DOJ and Fed headlines escalate, they may override normal data reactions to some degree. That could increase demand for perceived safe havens such as gold and lift FX volatility.
For Europe, Eurozone production (Wed) and UK GDP and trade (Thu) are the key local data. The region is still likely to trade primarily off US outcomes and broader risk sentiment.
Asia-Pacific markets start the week with sentiment shaped by China’s mid-week trade data, USDJPY (USD/JPY) as Japan’s key volatility channel, and offshore reporting influencing Australian equities. With a light domestic data calendar, global events may do most of the work on risk appetite.
Quick facts:
China's mid-week trade data is the primary regional risk event, with imports monitored for signs of domestic demand stability.
USD/JPY remains the key volatility channel, which may influence Nikkei performance.
Australian equities lack major domestic catalysts, leaving the ASX and AUD direction sensitive to China outcomes, geopolitics and US bank earnings.
This week’s Asia-Pacific focus is less about local policy and more about the transmission channels that typically set the tone.
For China, trade data may shape the growth narrative.
For Japan, the USD/JPY direction may influence equity momentum.
For Australia, offshore earnings, commodities and geopolitics may dominate in the absence of major domestic catalysts.
China: Shanghai may be influenced by trade data
What to watch:
With mid-week Chinese trade data, markets may view the release as a gauge of whether policy support is translating into growth activity or slowing any downturn.
Shanghai Composite: Stronger trade data could support sentiment, though the quality and perceived longevity of any improvement may matter. Weak imports would likely be read as continued softness in domestic demand.
Australia (resources and AUD): China trade and credit tone can feed directly into bulk commodity expectations and regional risk appetite, with potential flow-through to ASX miners and AUDUSD (AUD/USD).
With no major policy decision scheduled, and the producer price index (PPI) the main data point, Japan’s influence this week may run primarily through USD/JPY moves after US data releases, and broader geopolitical headlines, particularly as markets reopen after Monday’s public holiday.
Key releases:
Wed 14 Jan: Preliminary machine tool orders, year on year (y/y) (low sensitivity)
Thu 15 Jan: PPI (medium sensitivity)
How markets may respond:
USD/JPY: The pair ended last week around 158, near recent highs. Moves can be volatile; markets will watch whether the pair holds recent strength or retraces, particularly around prior trading ranges.
Nikkei 225: The index hit a record high early last week before a modest two-day pullback, then closed higher on Friday. Equity momentum, often closely tied to FX stability, may be influenced by the strength or otherwise of USD/JPY.
Australia: offshore drivers dominate in a lighter data week
What to watch:
In the absence of significant domestic data releases, Australian markets may be more exposed to external influences. The main themes are China trade data, geopolitics, commodity prices and the start of the US earnings season, with banks in focus.
Thu 15 Jan: Melbourne Institute (MI) inflation expectations (low sensitivity)
How markets may respond:
ASX 200: The index has been consolidating around the 8,700–8,800 area (approx.). Local financial stocks may react to inferences made from US bank earnings. Stocks such as Macquarie Group are typically more sensitive to global market conditions and activity in investment markets, often drawing comparisons with US peers such as JPMorgan Chase (JPM).
AUDUSD (AUD/USD): AUD/USD has pulled back after last week’s gains and is trading near recent highs. Technical commentary is mixed, and price action can change quickly around major offshore events.
South Korea is expecting an interest rate decision on Thursday. Any deviation from market expectations for no change (currently 2.5% per Trading Economics) could create a minor FX ripple in regional currency pairs.
Asia-Pacific calendar:
Mon 12 Jan: Japan public holiday
Tue 13 Jan: Australia consumer sentiment
Wed 14 Jan: China trade balance, exports and imports
Thu 15 Jan: Bank of Korea rate decision; Japan PPI; Australia inflation expectations
Bottom line
If China trade and credit data stabilise, regional equities may move higher, with AUD and ASX resource stocks among the key sensitivity points.
If USD/JPY extends higher, the Nikkei may remain supported near highs, though FX volatility risk may increase.
If US bank earnings disappoint, ASX financials could face near-term pressure despite limited domestic data.
Information is accurate as at 23:00 AEDT on 11 January 2026. Economic calendar events, charts and market price data are sourced from TradingView.
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