We study the impact of news embedded in scheduled macroeconomic announcements on the government bond market in Poland and the Czech Republic. We conduct an event study on intraday data and time-series regressions using daily data over an eight-year period, distinguishing between effects under...

Can official news and policy announcements affect foreign exchange speculation? This paper investigates the impact of macroeconomic surprises on risk perceptions of carry traders and the size of their overall positions. Unlike much of the previous literature, we are able to identify a...