Most Powerful Economic Figures for Forex Trading
Major Speeches for Currency Market
Forex Market Movements Depends on many factors. It is very much dynamically changing and volatile market at a time. So that , investors should learn all Basics about forex market before entering in this very risky business. Economic Releases and Speeches of few Important Persons deeply affects forex . Here we discuss about some fundamental Economic Indicators which primarily influence currency trading.Every Nation or Economic Zone or Regional Economic group release their economic data and conditions time to time. Some economic News are fundamentally brings major change in the price action and some not affects currency movements in any sense. So traders should have to get specific knowledge about those indicator and speeches which are important for their trading needs.
Important Speeches for Currency Market :-
Speeches from Federal Reserve Bank Chairman (USA) , FED Chairman , Secretary of the Treasury (USA), Speech from BOE etc these all are very much important Speeches in Forex.
Major Economic News & it's Impact:-
( Here we only showing High impact indicators )
1. Consumer Confidence Index:
a. USA ( For US $ ):-
( Retail Sales, Retails Sales Ex Autos, Personal Spending, )
High reading mean bullish USD and low reading mean Bearish USD
b. JAPAN ( For Yen Trading ):-
A result above 50 is bullish for YEN and below 50 is bearish for Yen.
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2. Interest Rates:-
Interest rates also a fundamental factors for currency movements. Usually , if a nation hike interest rates it's currency also get strength . Mean Bullish pattern for that particular currency .
3. Employment :-
a. USA ( FOR USD ):-
( Non Firm Employment Rate, Personal Income , Avarage Hourly Earnings, Avarage Weekly Earnings)
High reading mean bullish USD and low reading mean Bearish USD
b. USA ( For USD ):-
Unemployment Rate ( Jobless Rate ):-
Decrese in Unemployment rates mean bullish USD and Increase of Unemployment mean Bearish USD.
c. FOMC Meeting :-
If it shows hawkish outlook , it will turns bullish for currency otherwise it turns to negative.
c. United Kingdom( for GBP ):-
comments from UK can make short term bullish or bearish pattern . If it shows hawkish outlook , it will turns bullish for currency otherwise it turns to negative.
4. Inflation:-
a.USA ( For USD )
( Consumer Price Index-CPI , Personal Consumption Expenditure, Gross Domestic Purchase Index, CPI for food & Energ )
High reading mean bullish USD and low reading mean Bearish USD
b. UK ( for GBP )
( Retail Price Index, BOE Inflation Later, Core Consumer Price Index , PPI )
High reading mean bullish GBP and low reading mean Bearish GBP
5. Gross Domestic Product ( GDP ):
High GDP rates is good for currency and low GDP mean bad for currency.
( Traders should follow economic Calender to get better results. Economic Calender contains , previous results , forecast and actual results . If actual results better than forecast , it always good and bullish for currency market other wise it turns to bearish . So regularly follow economic calender, which is hanging in our blog , to get good Profits always. Have a Good Day ! )
