If you’re a forex trader, you face more reports, indicators, and surveyed data than you probably know what to do with. While there is plenty of data that traders should keep an eye on, the consumer confidence index represents especially important. To help you further understand the consumer confidence index, the following explains what it is and what it entails.Read More
Economic calendars lay out the dates and potential impacts of scheduled national and international events that are likely to affect the price and popularity of given markets or assets. Because certain types of events have been known to impact trade in significant, predictable ways, the nature and date of each event on an economic calendar can be used as a trading indicator to maximize profit potential.
Recurring news events tend to make the most compelling indicators because they have predictable effects on trading sentiment and volume. Examples include scheduled publication dates for widely regarded market statistics or surveys, and anticipated events such as federal decisions on interest rates, trade balances, and inflation.Read More
A forex economic calendar is a key tool if you want to achieve any kind of success in the competitive world of currency trading. It offers an insight into market movements, allowing a trader to work to anticipate the way that the market functions. With releases of economic data, such as the US non-farm payroll number or GDP, the market can make sharp moves, and not all are predictable. However, they do create opportunities. When it comes to forex trading, choosing to utilize a forex economic calendar should be a no-brainer. Here’s why.Read More
It might sound obvious, but US federal interest rates have a humongous impact on the forex market, especially when it changes to those rates occur. Changes to the US federal interest rate can move the forex market at full force, as they are a direct or indirect response to other, alternative economic indicators. Rate changes can also come as a surprise, potentially impacting traders in a big way, so it is important that traders know how to predict and respond to these movements.Read More
If you’re a forex trader, reading reports is going to become second nature. Detailing the ins and outs of a country’s economic performance, the right reports will allow you to stay one step ahead of the market. If you’re able to grasp the core data within a report, you should be able to make your forex trading efforts more efficient. The durable goods orders (DGO) report might not be a headline-grabbing report, but its importance shouldn’t be disregarded. The following breaks down the DGO report, addressing what it is, how to read it, and why it’s important.Read More
If you like to trade Economic News Events, you will know that Central bank Interest Rate decisions are almost always big movers of the markets.Read More
Note: See the date of the next Fed meeting
The forex market and the related currency values are determined by a number of key factors. While all of these factors carry importance, there is one that stands taller than the rest: interest rates.
These rates are arguably what drive the forex market, as the major central banks have a huge hold over how the market functions and moves forward. The interest rates linked to all of these central markets generally shift as an indirect response to other economic indicators that occur throughout the year. Largely because of how tumultuous they can be, interest rates have the power to move the market in both directions at full force.Read More