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What we can learn from euro-dollar tweets

Gholampour, Vahid, Wincoop, Eric van, (2017), “What we can learn from euro-dollar tweets”, Vox Eu, 15 May 2017

Research on the microstructure of foreign exchange (FX) has established the importance of private information for the determination of exchange rates. But private information is, by definition, unobservable. In social media, large numbers of people directly express their opinions about the direction of asset prices. Other studies, such as Antweiler and Frank (2004) and Das and Chen (2007), have investigated information content of online messages. In our recent work, we investigate the information content of opinions on one asset price, and ask how profitable trading based on this information would be (Gholampour and van Wincoop 2017).

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