Forex Blog

How to read the economic news of the forex market

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Forex news presents major profitable opportunities for Forex traders. Behind the news we mean different releases of economic data. Every major economy regularly publishes statistical data such as GDP, inflation, unemployment and the like. If you track forex news online during these issues, you have a chance to make a lot of money.

However, we should warn you that potentially large profits always come hand in hand with great risks. Volatility fluctuations during these periods and prices can move in a chaotic manner. If you do not have a reliable trading plan for a particular event that has captured the economic news of forex, it is better not to participate in any trading at all.

How to read the economic calendar and forex market news

Markets tend to appreciate future periods in the economic forecast. Typically, economic growth means future prosperity, which then equals the strengthening of a country’s currency. Traders are looking for these increases in economic growth (positive online forex economic news), as they tend to suggest a shift to an upward trend. In contrast, economic reports that show weak economic growth lead to a weakening of the country’s currency. So, the future value of the currency is determined by what data falls under the decline or growth of the forecast.

Forex economic news calendar is a key tool that helps traders not to miss important events. Its structure is simple. Economic indicators are given in the table for the selected period of time. Along with the individual indicator you will see three columns of data: preliminary reading, forecast and actual reading. Before leaving, the calendar contains only the preliminary reading and forecast. The actual reading appears at the time of release.

The forecast is a so-called “consensus” forecast, or, in other words, the median of evaluations of a number of experts and market analysts who were interviewed for the publication of a particular issue. If the actual data is better than the forecast, the currency is growing. If the actual figures are worse than expected, the currency tends to depreciate. In most cases, “better” means more than predicted, and “worse” means it is less than predicted. However, there are a few exceptions to this rule, such as unemployment requirements and unemployment rates: the lower these figures, the better for the currency. It should also be noted that a number that is close to the level of the forecast usually has an insignificant effect. The greater the difference between the actual and forecast numbers, the greater the impact on the market.

Previous indicators are not as important as forecasted ones. However, sometimes previous readings are revised. These changes, as a rule, occur at the time when the actual reading is released. If the viewing is significant, it will contribute to the impact of the news on the market.

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Nick Lisson – Famous traders

 

Nik Lisson - Nick Lisson - Famous traders

Nick Lisson is a well-known financier, but his fame is very tragic. Throughout the world, Nick Lisson is known as the man who ruined the most reliable and stable bank in British history – Barings. This bank was founded by the Barings family in 1762 and survived about 12 generations of descendants of its founders. However, he was unable to survive the decline of the Japanese securities market in 1995, mainly due to the activities of Nick Lisson.

Nick Lisson was born in a family of builders and his father really wanted his son to follow in his footsteps. But Nick decided differently – he chose the profession of a financier. After graduating from the university in 1989, he joined Coutts, then at Morgan Stanley. And in 1992, he got a job at Barings Bank. This event had crucial consequences for a financial institution.

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New York Stock Exchange

 

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New York is one of the largest cities in the world. The degree of development of this city can be judged not only by the number of population or standard of living, but also by the value that New York City has for the global currency and securities market. This city is the currency and financial center of the North American currency market and home to the world’s largest major stock exchange, the New York Stock Exchange. In order to fully disclose this fact, it is worth noting that the New York Stock Exchange is not only a symbol of the financial power of the United States, but also a symbol of the financial industry as a whole. This is where the world-famous Dow Jones index is determined, as well as the NYSE Composite and NYSE ARCA Tech 100 Index.

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History of work with Alpari

 

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I have decided to do internet trading, and I chose Alpari among all existing brokers. In my opinion, this broker has the most favorable conditions, starting with the minimum lot size – 0.01 and ending with a very convenient trading platform – MetaTrader 4.

 
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What determines the forex rate in the U.S.

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If you are reading this article, it means that you have decided to trade in the Forex market and that you will be lucky in this case. It’s an optimistic mood and it’s good. But if you are not a professional yet and do not know all the details of trading, then do not cry later, that the exchange rate of the ruble against the dollar in the Forex market did not coincide with your forecast. Yes, forex is an opportunity to earn money, but it is also an opportunity to lose all your money very quickly. And to prevent this from happening to you, it is necessary to study all the basics of the forex market and trading on it: quotes, currency pairs, learn how the forex rate affects your possible earnings and much more.

Ruble exchange rate: buy or not?

If you are a beginner in trading, you may think that the currency rate of the forex dollar to the ruble – these are the figures that highlights the scoreboard of exchange offices at banking institutions. But this is not the case, because the dollar rate online forex market is not stationary, and changes every minute. You can see it on the screen of your monitor on the charts. So, the art of trading is to guess as accurately as possible how the price and behavior of a particular currency pair will change and play on a decrease or increase.

A beginner trader, since he has already decided to participate in trading on the market should understand that the currency pair dollar-ruble is not one of the main currency pairs of Forex. It, like some other pairs, is called an exotic pair. The fact is that the Russian ruble is not traded so widely on the Forex market due to insufficient convertibility. But the dollar is in all major currency pairs. At the same time, many brokers include currency pairs with the ruble in their trading offers. This is because there are enough traders who want to earn on the change in the price of the currency of their home country. The peculiarity is that dealer companies can set inflated spreads on such pairs because of their low popularity.

At the same time, it will be interesting for both an experienced trader and a beginner to trade a dollar-ruble pair, as brokers provide a lot of information on the dollar (statistics, economic news). The pair with dollar participation is constantly moving, and it is also influenced by the euro exchange rate of the Forex market. Therefore, it is very important to correctly predict the change in the movement of the dollar against the ruble.

And most importantly, do not forget that the exchange rate of the dollar-ruble pair is always influenced by the turnover of the economies in which the national currency participates. Thus, if the GDP of the Russian Federation grows much faster than that of the USA, you will see the ruble strengthening against the dollar.… >>>

The Exness broker closes the retail business

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Exness, licensed by FCA and CySEC, announced its intention to close its retail business in the European Economic Area, including the UK. The broker intends to focus on work in the B2B direction, and expand his influence in other markets.

The following message was published on the official website of the company: “We value all our customers, and we understand that the decision made can cause disappointment, so the company apologizes for any inconvenience. If you are interested in discussing work with us in the B2B direction, write us an e-mail: [email protected] ”.

David Morris, executive director of the London office, said: “The ever-changing regulatory framework and significant changes in the industry have become the main reason for moving to the B2B sector. This decision is the most logical step in the company’s work in the European region. This is a great way to enter new markets and find new partners with which we can move forward. ”

Last month, the broker joined forces with Sumsub in the fight against fraud, and full compliance with AML requirements.

To promote business in the international sphere, Exness had to resort to the introduction of an automated KYC solution, suitable for use in many countries. Collaboration with Sumsub will allow you to create a single solution to meet all the rules and adapt the client. First of all, this applies to identification procedures and protection against fraudsters.

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MMCIS group or forex trust management project

I make money trading on Forex, however, I do not consider myself a trader. Moreover, I do not even think that I understand anything in the principles of trading on the foreign exchange market, quotations, charts, the functioning of the trading terminal and other things that a trader must know. But this does not prevent me from receiving a monthly income of about 3,000 dollars exclusively in the foreign exchange market. The fact is that once I made a decision that changed my life – I decided to participate in the trust management project MMCIS group. The feedback I found on the website of forex mmsic grup helped me to choose the trader to whom I have entrusted my money. We’ve been working with him for four years now. At the same time, he consistently reports to me and even insists that I go into his account and control his work. But I don’t do it, because, firstly, as a trader I’m absolutely nothing, and secondly, I’ve already had the opportunity to make sure that my manager does everything possible to make both my and his profit was good.

I am grateful to the company forex MMSIS grup for the chance to gain financial independence. On my own, I would hardly ever achieve the same level of income without any knowledge and practical experience.

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Thomas Row Price – Famous traders

 
price bio - Thomas Row Price - Famous traders

 

Thomas Row Price

Thomas Row Price was born in 1898 in Glinden, Maryland. After graduating from high school, Thomas goes to Svartmosk College of Chemistry. As a chemist, he managed to work for several companies before he realized that his true passion was the financial market. He has always been interested in studying the analysis of financial statements, technological products of companies, political and economic development of society.

If he takes some time to get a job at a brokerage firm. Thomas was responsible for working with clients and writing analytical reviews of securities markets. Price did not admire the methods of work of some brokers, who professed an aggressive method of trading. Instead of being blindly subordinate to his superiors, Thomas tries to form a personal opinion about which securities are better for an investor to pay attention to.

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Jesse Leavenmore – Famous traders

 

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Jesse Livenmore is a unique figure in the history of the exchange. It was he who managed to accomplish what neither before nor after him could not be repeated by any stockbroker. In 1907, he earned three million dollars in one day, causing a huge collapse of the financial market. In 1929, he once again managed to make similar manipulations, earning more than a hundred million dollars in the collapse of the market. But this time it took more than one day.

The path to Jesse Livenmore’s wealth was quite difficult. He understood that the market is not a casino or a lottery and, relying only on luck, there is very little chance of winning the market.

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My MMSIS experience or pleasant surprises and bonuses

 

I have worked with several brokers, including MMSIS. In my opinion, this is the broker that offers the most favorable conditions for traders. You can start trading on Forex with this dealing center without even depositing real money into your account – just win the contest on the website of mmcis ua and you will have money on your account for which you can trade. Another nice gift from the company is a 50% bonus on the initial deposit. This condition is unique – no broker has ever offered anything like this. The next advantage is the informative site mmcis.ua: reviews, forum, training literature, videos, answers to the most common questions, the ability to download the trading platform and its manual, ready-made trading strategies – all contained in one resource.

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