A website I have used for the past year and have found to provide excellent information is www.fx.com
Another excellent resource is forex essentials. Go to http://www.yourforexessentials.com
Monday 11 December 2006
Thursday 7 December 2006
Euro economic indicators
When trading the USD/EUR it is important what economic events will influence the prices. Some indicators include:
Purchasing Managers Index Manufacturing (PMI)
This data is released on the first working day of the month that follows.
- this is a survey of manufactoring providers showing cost and demand
- this is the leading release showing expected strength of manufacturing output in the Euro Zone
- a strong PMI, where costs are low and demand is on the rise is likely to be bullish for the Euro
- 50 is a critical measure in the PMI index. Below this level this is an indication that the EZ is contracting.
If you want to learn more about Forex I recommend a book called Forex Essentials. Go to http://www.yourforexessentials.com
Purchasing Managers Index Manufacturing (PMI)
This data is released on the first working day of the month that follows.
- this is a survey of manufactoring providers showing cost and demand
- this is the leading release showing expected strength of manufacturing output in the Euro Zone
- a strong PMI, where costs are low and demand is on the rise is likely to be bullish for the Euro
- 50 is a critical measure in the PMI index. Below this level this is an indication that the EZ is contracting.
If you want to learn more about Forex I recommend a book called Forex Essentials. Go to http://www.yourforexessentials.com
Sunday 3 December 2006
EUR/USD Pair
The EUR/USD is the most traded currency pair. The Euro was introduced in January, 1999. After launching at $1.17, the euro fell to a low of just below 83 cents in the second half of 2000. Since those days the euro has gained strength and today it trades at $1.33.
Traders follow either technical analysis or fundamental analysis or maybe a combination of both when deciding what trades to place.
Some of the larger countries that are part of the Euro zone include Germany, France, Italy and Spain. You need to keep an eye on the events happening in these countries when looking at trades.
Some major US economic events that can influence the currency pair include the release of Non-Farm Payrolls data, FOMC rate decision and Retail Sales.
The most important point to consider when currency trading is your education. At my site http://www.yourforexessentials.com there is a link to an excellent resource that will help you get off to a good start.
Traders follow either technical analysis or fundamental analysis or maybe a combination of both when deciding what trades to place.
Some of the larger countries that are part of the Euro zone include Germany, France, Italy and Spain. You need to keep an eye on the events happening in these countries when looking at trades.
Some major US economic events that can influence the currency pair include the release of Non-Farm Payrolls data, FOMC rate decision and Retail Sales.
The most important point to consider when currency trading is your education. At my site http://www.yourforexessentials.com there is a link to an excellent resource that will help you get off to a good start.
Welcome to Your Forex Essentials
Hi
I will be posting information about forex trading. The forex market is the largest market in the world with trillions of dollars being traded daily. The market has no single exchange and operates across all time zones for about five and a half days.
Check back here for more information at a later date.
I will be posting information about forex trading. The forex market is the largest market in the world with trillions of dollars being traded daily. The market has no single exchange and operates across all time zones for about five and a half days.
Check back here for more information at a later date.
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