Forex News Software – 5 Forex News Reports Successful Traders Devour

Written by admin on April 6th, 2011

Forex News Software

If you are going to be a thriving Forex trader, next half of that involves learning what profitable Forex traders presently know. One of the fundamental movers of the Forex arena are the economical states of every nation. Forex News Software

This isn’t just restricted to the United States, either. Traders looking at the Yen, British Pound, Canadian Dollar, or Euro (or any currency, for that matter) will look at the economic news reports that are released by each of these nations.

There are many minor economic reports, some of which can spill over into the larger reports (look at the U.S. Housing bubble, for example), and while the “minor” reports are useful, this is going to concentrate on the big five, because these are the five major economic reports that will have the strongest and most immediate impact on the Forex market.

These are also the five reports that are acted upon by the most traders, so being able to keep track of these are critical if you’re going to be able to keep a finger on the pulse of the Forex market.

The five major economic reports to keep track of are:

1. Unemployment/Non-Farm Payroll Reports

2. Interest Rates

3. Consumer Price Index

4. Trade Balance (Deficits vs. Surpluses)

5. Retail Sales

Unemployment/Non-Farm Payroll Reports Forex News Software

No matter what you’re trading, this is always one of the most important reports about a particular area’s economy. A low unemployment percentage is one of the strongest indicators of a strong, robust economy. Likewise, the opposite also applies. A country with a large unemployment rate is going through hard times.

Surprises in anticipated unemployment numbers can have a strong effect on the Forex market, as well. For example, if the unemployment rate is expected to be around 6.5% for the nation, and the report comes out with 4.9%, then that nation’s currency is going to strengthen thanks to the unexpected good news. Forex News Software

Interest Rates

Interest rate changes directly affect the strength of a currency. A higher interest rate will usually cause a stronger currency because it will attract foreign investors and traders. Interest rates are one of the BIGGEST key influences in driving a currency either up or down; especially since carry trades remain popular among Forex traders. Always want to have financial freedom? Check out Forex News Software Program. It’ll change your Life Forever!

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