Introduction: Forex trading is highly dependent on the economic indicators, which help traders to make better decisions. In this article we will discuss the most important and popular indicators used by the large percentage of the forex traders around the world, and also provide an insight into the top sites that provide news related to forex.
Gross Domestic Product (GDP) is the total value of all final goods and services produced within a country’s border in a given span of time. It is the most widely used indicator to gauge the economic performance of a nation. It is considered to be the first indicator of the whole economy as it affects almost all aspects of a country’s economy. For instance, the nation’s currency tends to strengthen when its GDP rises and weaken when its GDP declines.
Non-Farm Payrolls (NFP) is also known as the employment report. It is the most important monthly statistics as it indicates the number of jobs created or lost in the country during the previous month. It helps traders to better predict the economic trend and the strength of the US dollar, as this number is composed of the number of people hired by private employers and also the number of public servants. Higher NFP means a stronger economic situation and US dollar, while a weaker NFP means a weaker economic situation and weaker US dollar.
Fed Funds Rate (FFR) is the interest rate that is set by the U.S. Federal Reserve. It affects the growth of the economy as it influences the lending rate and also the currency strength. Changes in FFR have a direct impact on the US dollar, as it can indicate economic activity and trend. Moreover, when the FFR rises, it tends to signal a weaker US dollar. On the other hand, a decrease in FFR means a stronger US dollar.
Top Forex News Sites
In order to make the most of the indicators we have just discussed, it is important to stay informed of the latest news related to Forex. Therefore, we have suggested some of the top sites for finding and gathering news related to Forex. These sites provide valuable insights into the major currency pairs as well as the recent news updates and analysis. To name a few, there is Forex Factory, Investing.com, and DailyFX. Each of these sites offer valuable news and market analysis on the Forex market.
In conclusion, news related to Forex can be found on the internet. However, it is important to familiarize yourself with some of the top Forex news sites in order to stay up-to-date on the latest news. Knowing the important economic indicators such as GDP, NFP, and FFR also helps traders make a well-informed decision when trading in the Forex market.
Understanding Forex News Top Sites
Forex news top sites allow users to stay abreast of any developments taking place in the Foreign Exchange (Forex) market. By regularly keeping an eye on things like current Forex market sentiment, technical analysis, headlines, and news stories, investors of all levels can make informed decisions regarding their investments. Commonly used Forex news sites which help traders keep abreast of the latest happenings include TradingView, FXStreet, Forex Factory, Investing.com, DailyFX, Investopedia, and MarketPulse. Let’s take a look at these sites in further detail.
TradingView is a social network for active traders and investors to discuss trading ideas. It offers a wide range of professional features and tools, making it an ideal platform for those interested in staying current on various markets. The TradingView platform provides access to extensive coverage of Forex markets worldwide as well as numerous trading strategies, financial news and analyses. Users can also create customised trading plans and paper trading within the platform.
FXStreet is a comprehensive online service providing up-to-date market news, technical and fundamental analysis tools, streaming quotes from multiple sources, and a variety of trading tools and services. FXStreet also features a number of independent contributors who share valuable insights and analysis with the FXStreet community. Their website is also home to a speciality Forex calendar which highlights important news and events with the goal of helping traders make the most of their investments.
Forex Factory is a portal that covers multiple segments of the Forex market, from charting applications to live market data and news. On its website, visitors can find a great selection of trading tools and analysis which can be used to monitor the Forex market and their investments. Additionally, Forex Factory provides various educational resources, including tutorials, webinars, and e-courses for learning more about trading in the Forex market.
Investing.com is a global financial portal and internet brand which provides a vast array of financial instruments such as stocks, currencies, commodities, and futures contracts. It also offers a wide range of research tools such as interactive charts and live quotes which help traders keep abreast of the markets. Investing.com also has comprehensive news and analysis covering the Forex sector, which is available free of charge.
DailyFX is a portal operated by FXCM, a leading online Forex broker. It offers a wide range of financial information, including live market data, technical analysis, and reports about the markets. Their website also provides charting tools, market recommendations, and educational materials for interested traders.
Investopedia is one of the world’s leading financial websites, with a wealth of resources and insights for anyone seeking to learn more about trading, investing, and financial markets. Their website includes a special section dedicated to Forex trading, which includes up-to-date forecast and market analysis, extensive coverage of the major currencies, and an array of trading strategies.
MarketPulse is one of the top Forex news, commodities, and global market analysis websites. It provides timely and relevant information on technical, fundamental, and sentiment-based analysis of the markets. Additionally, MarketPulse is home to a regular podcast and video series geared towards helping traders make the most of their investments.
In conclusion, the above-mentioned forex news top sites are invaluable assets for any trader or investor looking to keep abreast of the markets. Whether you’re an experienced trader or a novice looking to get your feet wet, taking advantage of the wealth of resources available on these sites can help you make educated decisions when it comes to capitalising on the foreign exchange market.