Eurusd forex factory

eurusd forex factory

EUR/USD slumped more than % to trade near the handle on Thursday, clobbered by broad-based U.S. dollar strength in the FX space. EURUSD:CUR. EUR-USD X-RATE ; Open. ; Prev Close. ; YTD Return. % ; Day Range. ; 52 Week Range. Good day. EURUSD is consolidating above the 50 daily ma, weekly R1 and below / levels. I want to see a test either at R2/ or. EARTH FRIENDLY INVESTING MONEY

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Central banks try to influence the overnight rate by lending in the money market at their own overnight rate and it is an important tool in their monetary policy arsenal. Overnight interest rate is the key reason prices fluctuate in the market as it also affects the swap rate. In fact, many traders think that the main purpose of fundamental analysis is to predict future interest rates of major central banks. While understanding monetary policy is difficult, even for veteran economists, the way to interpret this news is rather easy.

If you see a forecast that says the Federal Reserve will likely increase the overnight rate, it will likely have a bullish effect on the U. Nonfarm Payrolls NFP Data The nonfarm payrolls figure measures the number of additional jobs added from the previous month in the corporate sector in America, which is an important leading indicator of the overall employment situation in the country.

Dollar is the de facto reserve currency in the world and the nonfarm payrolls data is usually released on the first Friday of each month by the U. While there is not an equivalent data release in every economy, you should definitely keep an eye on the U. NFP as it will eventually have major impacts on almost all currency pairs involving the U.

If you see the forecast of the NFP is higher compared to last month, it is bullish news for the U. There is a strong correlation between the currency market and oil price because of how resources are distributed. Hence, it can affect the balance of trade BOT of a currency, and influence market psychology.

You see, Crude oil is quoted in U. Hence, any national currency of a country that has a large crude oil reserve will be impacted by the crude oil price. Furthermore, low energy price means more disposable income will be left to consumers and it can create demand for goods and services, boosting sales. But it may not have a significant impact on the Japanese Yen because Japan does not have large oil reserves.

While it is difficult to analyze what would be the impact of oil price on a given currency, knowing and understanding the impact by reading detailed analysis can help you sense the pulse of the market and make better trading decisions. When consumers feel safe and secure about their jobs, they tend to spend more on durable and non-durable goods, which boosts transactions and creates value.

In terms, retail sales can be a pretty good indicator of future the GDP growth rate. How retail sales are influencing it can give you an edge in the market because you can predict GDP growth well before the quarterly reports!

However, analyzing retail sales is somewhat tricky because it is also dependent on wage growth and overall productivity level in the economy. Therefore, before analyzing retail sales data, you have to keep in mind that while increasing sales can lead to inflation, it can also indicate overconfidence in the economy. After all, if productivity and wages are not growing, but only retail sales go up, it can also indicate that people are buying things to stock necessary items because they expect a slowdown in the economy!

In the end, the rule of thumb is, if retail sales go up of one country and it is the base currency of the pair, but it remains stagnant in another which is the quote currency, it will be a piece of bullish news for the base currency. The survey asks managers to rate what is their perspective about the business over a 6-month period if they plan to hire new workers or reduce the size of the workforce, and things like the inventory level to fill new orders.

The way to interpret the PMI is keeping an eye on if the number is above or below

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Generally, forex trading is a hour affair across the globe. For instance, when the European market closes, market liquidity is affected. Traders have to understand when to expect high volatility and the times when the pair is likely not to be traded.

During the Asian sessions, the trading is light as the economic data as well as other significant events get online during the US and European sessions. Political Factors Political events also affect the direction of the trading pair. Any political instability in a market will create uncertainty, and hence traders being uncertain of the outcomes, they trade less.

In return, the daily volume for the pair goes down. Interest Rates The interest rates form the core of the economic activities, and the forex market is merely the consequence of the happenings in the economies. Therefore, interest rates are crucial because they help determine spending levels as well as levels of investment. Factors such as the GDP and inflation are directly affected by the interest rates in any given economy. During the Asian sessions, the trading is light as the economic data as well as other significant events get online during the US and European sessions.

Political Factors Political events also affect the direction of the trading pair. Any political instability in a market will create uncertainty, and hence traders being uncertain of the outcomes, they trade less. In return, the daily volume for the pair goes down. Interest Rates The interest rates form the core of the economic activities, and the forex market is merely the consequence of the happenings in the economies.

Therefore, interest rates are crucial because they help determine spending levels as well as levels of investment. Factors such as the GDP and inflation are directly affected by the interest rates in any given economy. For that reason, they also affect the exchange rate indirectly. Financial Institutions Another factor at the core of the economic activities is the influence of financial institutions or personalities.

Major Banks in Europe and the US determine monetary policies in respective economies, meaning heads of institutions do have a massive impact on the happenings in the market.