The Monetary Policy Committee of the Reserve Bank of New Zealand decided to lift the Official Cash Rate to 3.50 percent from 3.00 percent. With the value of imports showing a notable decrease, the Commerce Department released a report on Wednesday showing the U.S. trade deficit narrowed by more than expected in the month of August. The Commerce Department said the trade deficit narrowed to $67.4 billion in August from a revised $70.5 billion in July. The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector.
Therefore, you will need to make quick judgements on how to trade the announcement. Many short-term traders base their decisions solely on technical analysis and price charts, regardless of which markets they are trading. It’s common for traders to completely ignore fundamental factors and instead follow price trends, analyse support and resistance levels and weigh up various signals from technical indicators. There is normally a consensus https://www.cmcmarkets.com/en/learn-forex/what-is-forex amongst leading economists about what level an economic announcement is likely to come in at. Changes to non-farm payrolls, GDP or inflation data will have a resulting effect on the market. For example, low unemployment suggests a strong economy, so many would expect the stock market to rise. A decision to lower interest rates could make a country’s currency less attractive, causing it to fall against other world currencies.
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Get tight spreads, no hidden fees, access to 10,000+ instruments and more. These two types of analysis may be more effective when used together, rather than solely relying on one for all trading decisions. You will have access to a demo account straight away to practise with virtual funds before depositing funds https://www.gdatamart.com/303470/Famous-Forex-Broker-DotBig-for-Trading-on-the-Exchange and placing live trades. Get tight spreads, no hidden fees and access to 10,000+ instruments. Chainlink connects a $7 trillion a day industry to the decentralized finance space by partnering with CenterPrime. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world.
- Rate hikes are really beginning to take a bite out of the US employment numbers, with job openings falling at their fastest pace since the pandemic.
- Our market calendar can be customised by date, market impact and country, so you can filter these to be more relevant for the asset or market that you are interested in trading.
- Every week we expect many interesting events that can shake the market.
- This includes analysing its growth rate potential, as well as any potential legal, political or insolvency risks.
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If you would like to reproduce or redistribute any of the content found on MarketPulse, please access the RSS feed or contact us at © 2020 OANDA Business Information & Services Inc. OPEC+ will be holding an in-person meeting in Vienna today, and is set to announce a major decision that’s likely to reverberate across global oil markets. There is also the risk of carrying positions for a longer period of time. If the news release requires a few days or weeks Forex news to materialise, your trading positions may be open over several days. This brings overnight risk and may require you to pay additional holding costs. Therefore, traders should ensure that they have sufficient funds in their account to cover these costs. In particular, news trading requires expert fundamental analysis skills, as you will need to understand how certain economic announcements can affect your positions and the wider financial market.
This offers traders an opportunity to open positions at the very start of a new trend. A live account will give you access to Morningstar equity research reports and Reuters news headlines, which provide a wealth of information for all asset classes.. Read more about using fundamental analysis in the consideration of external factors as part of your news Forex news trading strategy. See what’s in store for the markets with our global economic calendar and daily session briefings. Find the market events that matter with filters for currency and importance. Find out the facts behind forex market movement with DailyFX’s live newsfeed. Keep on top of volatility with instant updates on forex, commodities and indices.