Latest and Daily Forex News for Profitable Trading
Current and Daily Forex News for Profitable Trading – Forex, which we all know is currency trading. This cross-currency currency trading certainly involves various aspects. For ordinary people, of course this trade is considered to be like buying and selling in the ordinary market, when we know the price of a currency and consider it as an advantage, trading can be done. For ordinary people, if the numerical value of one currency is known then trading can be done.
This is certainly not true. Trading cannot be done carelessly. Traders must do the analysis first. Remember, trading without analysis is like gambling and gambling always ends with a loss. Trading itself is done with profit objectives, so this analysis is very important.
In forex trading there are several analyzes that can be used by traders, namely technical analysis and fundamental analysis. Technical analysis is commonly used because it is indeed a way to use it that utilizes charts that involve impressive numbers can be predicted with certainty. However, in addition to technical analysis, fundamental analysis also has a strong role. Fundamental analysis is an analysis that is used to determine the state of the currency in the market by using news or issues circulating in the market. Therefore, these news and issues have a very important role to predict the value of a currency.
The Importance of Reading Forex News for Traders
Reading forex news is an important task to be done by traders. If there is a trader who considers forex news is not important to read and is considered only a waste of time then it is a wrong perception. This news will be analyzed before making a decision.
Forex news is the news needed to do fundamental analysis. News used is news from all over the world that occurs in real time that will directly or indirectly affect the market movements and the value of a currency. Fundamental news will be a tool to predict the right market. This fundamental news can be obtained from anywhere, from television to the internet which is currently more familiar. Along with the increasing market consumption of the internet needs, several sites provide the news index needed to do fundamental analysis. Traders don’t just read it, but the news needs to be understood, digested until a decision is made to open the right position.
Forex News Type
Not all news can be considered as forex news. There are several types of news groups that can be used for fundamental analysis. Traders need to understand some of these types of news to find out daily forex news that must be listened to every day. Usually the type of news that needs to be considered is news that has a correlation with the value of a country’s currency. This news will then indicate the economic condition of a country.
Here are the types of forex news that traders need to pay attention to.
Type of ISM-MI
The Institute of Supply Management-Manufacturing Index is a survey involving several manufacturing industries and purchasing managers. This survey is usually around the United States. Information will be released every month on the first day of work. This information is used to find out the manufacturing index. If a survey shows that the ISM-MI value rises, then the country’s currency also rises.
Type of Trade Balance
Trade Balance is the difference between the export value and the import value of a country. If the value of the trade balance is positive, then it can be ascertained if the amount of exports is higher than the value of imports, and vice versa. This positive trader value also shows the value of a positive trade balance from a country, so that the indicated currency is getting stronger.
Consumer Confidence Index is usually released at the end of the month. CCI is an indicator that will focus on showing the level of consumer trust with their partners in future economic conditions. If the CCI value is high, then the confidence in the future economic conditions that will develop is also high, so the value of a currency is also higher.
Type of GDP
Gross Domestic Product will show the value of a country’s production. If the forex news about GDP is released with increasing value, the country’s currency will also automatically strengthen.
Type of PPI
The Producer Proce Index is used to mark the inflation rate of the producing country issued each month. If it is released and shows an increasing value, it can be concluded that the country’s currency has also strengthened.
The Averange Earning Index is an inflation news that will provide information about the income of workers. How to use it, if the AEI value increases, it can be ascertained that the value of the currency also increases.
Type of Chicago PMI
The Pusrchasing Type Manager’s Index will show the level of purchasing expenditure that is dominated by the manufacturing industry in the city of Chicago. The Chicago PMI value has a very large impact on the USD value. USD itself is one of the currencies with high liquidity in the forex market, so that when the Chicago PMI increases, the USD will also increase.
Money Supply Type
The supply value of this money will show the amount of bank loans to the public, the amount of money in circulation and the amount of debt that has not been paid by the government. The value of supplying this currency will later give an increase in the value of a currency.
Interest Rate Statement is forex news that will be routed by the country’s central bank on a regular basis. This IRS is an interest rate policy that will be used as a guideline from other banks. Policies are issued regarding the amount of savings interest rates, credit interest rates, deposit rates and others. These news will later have an impact on the value of a country’s currency.
- CPI type
CPI is a type of news that is opposite to PPI. PPI will report on the inflation value of producer countries, while CPI will report the inflation value of the consumer country. The high value issued by the CPI will show if consumer confidence is also high.
- NFP type
Non Farm Payroll will show the value issued by the government for payment of salaries other than agriculture. When the value issued by the NFP is high, the value of the country’s currency will automatically increase quite dramatically as well.
- Retail Sales Type
Retail sales are forex news that is used to find out the total seller of goods. If the value issued in the middle of the month shows an increasing value, then the value of the currency will also increase.
News is a fundamental analysis tool that needs attention. However, when this news is released, traders do not need to immediately open positions. Note for a moment whether the news that came out caused a impact on the market. If the effect is already seen, then the trader can make a move. In contrast to technical analysis, fundamental analysis with this news requires precision so that the analysis is carried out appropriately. This accuracy can be done by training with a demo account. Ideally fundamental analysis is used to predict future market conditions. It would be better if traders apply it combined with technical analysis so that it is more accurate.