How to Use Economic Indicators in your Trading
Archive : How to Use Economic Indicators in your Trading
Economic reports can have a major effect across the global markets. These reports provide important clues about what is in store for the economy and how the financial markets could be affected. In How to Use Economic Indicators in Your Trading, we will discuss the economic indicators that continually affect the market. The impact of employment numbers, consumer confidence and spending, housing reports and more are explained. But more importantly, you will know what these reports mean to the strength or weakness of the markets in the future. By the end of course, you will have a solid knowledge of what these economic indicators mean, how to use them in your trading, and how to avoid the element of surprise that these reports can often deliver.
What is forex trading?
Forex, or foreign exchange, can be explained as a network of buyers and sellers, who transfer currency between each other at an agreed price. It is the means by which individuals, companies and central banks convert one currency into another – if you have ever travelled abroad, then it is likely you have made a forex transaction.
While a lot of foreign exchange is done for practical purposes, the vast majority of currency conversion is undertaken with the aim of earning a profit. The amount of currency converted every day can make price movements of some currencies extremely volatile. It is this volatility that can make forex so attractive to traders: bringing about a greater chance of high profits, while also increasing the risk.
How to Use Economic Indicators in your Trading
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