Active forex traders are relentless when it comes to monitoring the various key economic indicators intertwined with the market. The reason for this is pretty clear: These indicators allow a trader to identify both minor and major trends with regard to economic growth.
Key economic indicators that many advanced forex traders opt to monitor include the Consumer Price Index (CPI), housing stats, gross domestic product (GDP), personal consumption expenditures (PCEs), and the employment report.
Across these indicators, the employment report arguably carries the most weight because it contains a wealth of statistics that allow traders to read between the lines when it comes to understanding the current state of the economy.