TipsSeo – Must-Learn Forex News If you want to be a successful forex trader, that section includes learning what Forex Traders know. One of the main drivers of the Forex market is the economic data of individual countries.
This is not limited to the United States. Traders of Yemen, British Pound, Canadian Dollar or Euro (or any other currency) look at the economic news releases in each of these countries.
There are many small economic reports, some of which can flow into larger reports (e.g. the US housing bubble) and useful “smaller” reports, focusing on the top five, as these are the five major economic reports that have the strongest and fastest impact in the world. Forex market, they are.
These are the five forex news reports that most traders need to analyze, so being able to track them is essential if you can keep track of your pulse.
#1. Must-Know Forex News – Unemployment/Non-Farm Payroll Reports
No matter what the trade is, it is always one of the most important reports on the economy of a particular region.
A low unemployment rate is one of the strongest indicators of a strong economy. Similarly, the reverse works the same way. A country with a high unemployment rate is in a difficult situation.
A shock to the expected unemployment rate could also have a significant impact on the Forex market. For example, if the unemployment rate is projected at around 6.5% of the country and the report is released at 4.9%, the country’s currency will strengthen thanks to unexpected good news.
#2. Forex News You Must Learn – Interest Rates News
Interest rates directly affect currency strength. High interest rates often attract foreign investors and traders, often resulting in a strong currency.
Interest rates are one of the main factors that affect exchange rates. Mainly because bearish trading remains popular among Forex traders.
#3. Forex News You Must Learn – Consumer Price Index News
The Consumer Price Index is a monthly report that measures prices across the country and compares wages. Basically, this means monitoring inflation, which is a major factor in the health of any economy.
Sudden inflation is not good news, and in some countries (see Zimbabwe) it can be dire, so keep an eye out for these reports.
#4. Forex News You Must Learn – Business Balance News (Trade Balance)
The trade balance refers to a country’s trade gains and/or drawbacks. It is measured by how much a country exports and how much it imports.
Handicap means you carry more than you send, and profit means the opposite. You may often hear “trade deficit” referring to the United States, but this doesn’t necessarily mean a bad thing – it depends on the situation and why the balance is being balanced. This is a monthly report from the United States.
#5. Forex News You Must Learn – Retail Sales News
A country’s retail sales report can be a better indicator of how the average person feels about the economy.
In the United States, this is a monthly report on how business for private businesses is doing. Some parts of the year will be busier than others.
For example, because of Christmas, December is always a great time for shopping.
Thus the article 5 Forex news that must be studied for analysis in order to become a successful trader
Knowing what this report is and how it affects the market will help you make better basic decisions when trading Forex.
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