A Sentiment Analysis of Twitter Content as a Predictor of Exchange Rate Movements

Serda Ozturk () and Kursad Ciftci
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Kursad Ciftci: Istanbul Bilgi University

Review of Economic Analysis, 2014, vol. 6, issue 2, 132-140

Abstract: Recently, social media, particularly microblogs, have become highly valuable information resources for many investors. Previous studies examined general stock market movements, whereas in this paper, USD/TRY currency movements based on the change in the number of positive, negative and neutral tweets are analyzed. We investigate the relationship between Twitter content categorized as sentiments, such as Buy, Sell and Neutral, with USD/TRY currency movements. The results suggest that there exists a relationship between the number of tweets and the change in USD/TRY exchange rate.

Keywords: Sentiment Analysis; Social Media; Foreign Exchange Markets; Data Mining (search for similar items in EconPapers)
JEL-codes: C82 F31 G15 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ren:journl:v:6:y:2014:i:2:p:132-140

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