Japan NIKKEI 225 Stock Market Index | Data | Chart | Calendar FOREX INVESTORS NIKKEI 225 Higher Midday Tokyo’s Nikkei 225 finished up 114.5 points, or 0.6 percent, to 20,195.5 on Tuesday 11th of July ahead of Yellen’s testimony to congress on Wednesday and Thursday. It was the highest close since June 29th. Trading activity has […]
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.
Switzerland Stock Market (SMI) | Data | Chart | Calendar FOREX INVESTORS SMI Lower Midday SMI decreased 70 points or 0.78% to 8874 on Tuesday July 11 from 8944 in the previous trading session. Historically, the Switzerland Stock Market (SMI) reached an all time high of 9531.50 in June of 2007 and a […]
Canada S&P/TSX Toronto Stock Market Index| Data | Chart FOREX INVESTORS Toronto Stock Lower Midday Toronto TSX decreased 3 points or 0.02% to 15103 on Tuesday July 11 from 15105 in the previous trading session. Historically, the Canada S&P/TSX Toronto Stock Market Index reached an all time high of 15922.37 in February of 2017 and […]
Australia S&P/ASX 200 Stock Market Index | Data | Chart FOREX INVESTORS ASX 200 higher Midday ASX 200 increased 4 points or 0.08% to 5729 on Tuesday July 11 from 5724 in the previous trading session. Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 6828.70 in November of 2007 […]
Euro Dollar Exchange Rate | Data | Chart | Calendar FOREX INVESTORS EURUSD Higher Midday The EURUSD increased 0.0068 or 0.59% to 1.1467 on Tuesday July 11 from 1.1399 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and […]