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Is it important to know major banks' FX positions?
Knowing major banks' FX positions can be important for certain traders, as it provides insights that can help identify low-risk, high-reward, and high-probability entry points in the market.
Continue Reading at Looking for Major Banks FX Positions? This Premium Tool Will Help You
What is PMI data in forex analysis?
Purchasing Managers Index, or what is known as PMI, is an economic report that draws conclusions from business surveys and indicates the business climate in a certain country during a particular period. They usually survey several private companies in the country and track indicators like new orders, production, employment, supplier deliveries, etc. In this regard, PMI is often seen as more comprehensive and useful than ordinary economic data such as GDP (Gross Domestic Product).
Continue Reading at Guide to PMI Data in Forex Analysis
What are the biggest banks that trade forex?
Based on a survey in 2019, JP Morgan, UBS, and Deutsche Bank are the top 3. Each has a market share of 10.78%, 8.13%, and 7.58% of the global forex market respectively.
They are followed by Citi (5.53%), HSBC (5.33%), Goldman Sachs (4.62%), State Street (4.61%), and Bank of America Merrill Lynch (4.5%).
Continue Reading at Bank Trading Strategy: How to Do It in 3 Steps
How many types of COT are there?
There are four main types of Commitment of Traders (COT) reports:
- Legacy COT Report
- Supplemental COT Report
- Disaggregated COT Report
- Traders in Financial Futures (TFF) Report
Continue Reading at What is Market Sentiment in Forex and How to Measure It?