Philadelphia Manufacturing Index Falls More than Expected The Philadelphia Fed Manufacturing Index in the United States fell to 22.3 in March of 2018 from 25.8 in February, below market expectations of 23. Nearly 37 percent of the manufacturers reported increases in overall activity in March, while 14 percent reported decreases. Philadelphia Manufacturing Index The index […]
Stock Indices Forecast, Technical Analysis & News
FOREX Analysis, Forecasts & Daily Market News
INVESTORS FOREX One of the great advantages of trading currencies is that the forex market is open 24 hours a day (from 5pm EST on Sunday until 4pm EST Friday). Economic data tends to be one of the most important catalysts for short-term movements in any market, but this is particularly true in the currency market, which responds not only to U.S. economic news, but also to news from around the world. With at least eight major currencies available for trading at most currency brokers and more than 17 derivatives of them, there is always some piece of economic data slated for release that traders can use to inform the positions they take. Generally, no less than seven pieces of data are released daily from the eight major currencies or countries that are most closely followed. So for those who choose to trade news, there are plenty of opportunities. Here we look at which economic news releases are released when, which are most relevant to forex (FX) traders, and how traders can act on this market-moving data.
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Which Currencies Should Be Your Focus?
The following are the eight major currencies:
1. U.S. dollar (USD)
2. Euro (EUR)
3. British pound (GBP)
4. Japanese yen (JPY)
5. Swiss franc (CHF)
6. Canadian dollar (CAD)
7. Australian dollar (AUD)
8. New Zealand dollar (NZD)
This is just a sample of some of the more liquid derivatives based on the currencies above:
As you can see from these lists, the currencies that we can easily trade span the entire globe. This means that you can handpick the currencies and economic releases to which you pay particular attention. But, as a general rule, since the U.S. dollar is on the “other side” of 90% of all currency trades, U.S. economic releases tend to have the most pronounced impact on the market.
Trading news is harder than it may sound. Not only is the reported consensus figure important, but so are the whisper number and the revisions. Also, some releases are more important than others; this can be measured in terms of both the significance of the country releasing the data and the importance of the release in relation to the other pieces of data being released at the same time.
US Home Builder Sentiment Drops in March US Home BuilderThe NAHB Housing Market Index in the United States fell to 70 in March of 2018 from a downwardly revised 71 in February and below market expectations of 71. US Home Builder The index charting sales expectations in the next six months went down 2 […]
US Import Prices Rise 0.4% US import prices rose 0.4 percent month-over-month in February 2018, beating market expectations of 0.2 percent and following a downwardly revised 0.8 percent advance in January. The price index for nonfuel imports advanced 0.5 percent in February, the same pace as in the previous month, boosted by higher costs for […]
Forex Investors Buzz week ahead mar 12-18 Forex Investors Buzz In the US, the most important releases will be inflation rate, retail trade, industrial production, housing data and the preliminary reading of Michigan consumer sentiment. Elsewhere, the UK government will publish its Spring Statement while the Bank of Japan will release its meeting minutes. Important […]
China Producer Prices Rise the Least in 15 Months China Producer Prices The producer price index in China increased by 3.7 percent from a year earlier in February of 2018, compared to a 4.3 percent rise in the prior month while markets estimated a 3.8 percent gain. It was the 18th straight month of rise […]