How to Trade Forex News and event | Forex Economic Calendar Guide

How to Trade Forex News and event | Forex Economic Calendar Guide


In this video I’m going to discuss economic
releases. Now this is a major and huge and even varied
topic. This is something that people go out and get
degrees from university. And so when you speak of an economic releases
you’re speaking of the data points of economies companies things like that. There is a massive amount of information that
you can take in and as a result you have to be on your toes in front of you I have the
4 x factory calendar but quite frankly there are several calendars out there that you can
use a lot of times they will have the forecast result of a particular announcement and a
lot of times you can click on that announcement and give you an idea of what it says and what
it tells you about an economy in this case and it will give you the results if it is
after the announcements come out. Now the thing about economic announcements
is that they tend to show the entire picture in this case of countries. This is a currency calendar more than anything
else but it does give you an idea that perhaps particular economies may be doing better than
others in this case in the forex market. Now you have to keep in mind that at the very
least you should be aware of the fact that these announcements are coming out. So for example if you’re trading the British
pound you do not want to necessarily ignore the fact that the GDP numbers coming out of
Great Britain are coming out later in the day. There are a multitude of announcements that
come out at any given day and some of course don’t have as much weight as others so that
in and of itself is a bit of a conundrum. Typically there are a handful of announcements
that really kind of camps the imagination of traders. Gross domestic domestic product GDP employment. Those are two major ones economic announcements
do not include monetary policy announcements central bank type issuances but an economic
announcement would be something more along the lines of consumer confidence or the unemployment
rates. Crude oil inventories. One thing that you have to keep in mind though
that there is a bit of overlap in these economic announcements. So for example the crude oil inventories are
a number and this particular case measures how much we have in inventory in the United
States of crude oil and that shows you a bit of the usage and if we have less inventories
that means we’re actually drawing away from the saved if you will crude oil in America. Now having said that you also have to be aware
of the fact that there are other announcements that can have a substantial effect. Now at first blush it doesn’t seem like employment
would be a big factor. But employment numbers really can move the
oil markets because quite frankly it has a bit of a knock on effect. And what I mean by that is that if employment
is increasing in the United States that means that more people were working more factories
are producing more things because they’re hiring people otherwise they wouldn’t be. That puts more demand for energy out there
more demand for transportation of their goods. And then of course the workers who are now
working are driving more. So that’s an example of a bit of an overlap. You have to kind of keep your eye on everything
you have to realize that the major announcements tend to affect several other things and therefore
a lot of traders these days will actually use these economic releases as an idea as
to where things are going. But they also marry that with technical analysis.

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