When you’re analyzing financial markets, you can’t ignore economic news. There are many economic indicators that can affect global or national markets, from inflation to interest rates. From retail income to unemployment rates, economic indicators are constantly changing and impact market sentiment. These 5 economic news releases act as a starting point for your analysis. Watch these releases and stay up to date with all the important developments in the world economy. If you’re not sure what to look for, consider these 5 topics to inform your trading strategy.
While some economic news outlets emphasize bad news, many other sources report more positive economic news. The Western New York Economic News covers the Buffalo-Niagara Falls metropolitan statistical area, comparing its growth to that of New York State and the nation as a whole. The publication is prepared by Canisius College’s Economics and Finance Department. For more information on the economic health of Western New York, check out the Western New York Economic News website.
If you’re an avid investor, you’ll want to make sure that you’re keeping up with the latest news from your favorite media outlets. TheStreet app is a great source of financial information and market data. It lets you watch live broadcasts and share articles on social media. Barron’s is an award-winning investing news magazine that publishes in print and on mobile. It offers articles, commentary and analysis seven days a week, and subscribers can access the entire magazine from anywhere.
The Purchasing Managers’ Index (PMI) is based on surveys of key purchasing managers in the economy. The PMI is an indicator of how business is performing. Purchasing managers rate their companies based on factors such as hiring plans, employee size, and inventory levels. A higher forecast of PMI indicates a healthy economy and is good news for the U.S. dollar. Further, it is an excellent leading indicator for U.S. employment situation.
Similarly, when an economic news release is expected to be released, it should be carefully monitored to see if the price moves up or down based on the news. In the example above, EUR/USD was within a tight 30-pip range just 17 hours before the release of the data. The market had expected the U.S. economy to gain 120,000 jobs, but actually added only 56,000. This disappointing news resulted in a 60-pip sell-off in the dollar against the euro.
Traders should also keep an eye on other kinds of economic news, including unemployment rates. In general, economic news is the most important factor that drives short-term currency movements. This information is important for both fundamental and technical traders alike. The Forex market is a 24-hour market, so news about unemployment and inflation is of critical importance. Therefore, it is important for technical traders to monitor the data to be sure of the next price moves. This information will help them make the best decisions.
The downside of using economic news to influence trading is that it requires a great deal of research and preparation. Moreover, you can use this technique only when you know that an economic news release is imminent. If you’re unsure of the timing, wait until the news event has passed before putting your trades on the market. This way, you won’t have to worry about triggering a stop loss or losing a large sum of money.