FIBOGroup Contests
Contest | Status | |
|
Join Weekly Demo Contest and Win $25000 | active |
|
Try for Free Forex Contest Triathlon and Win $25 000 | active |
What is the Employment Figures and its importance in forex analysis?
The employment amount depends on the jobs available. Active employees will affect the economic condition of the country significantly. The best economic condition is when there are more job vacancies available, so it will decrease the unemployed level. On the contrary, the economic contraction will cause the rise of the unemployed level that endangers the economy.
Some indicators of the employment figures are usually released in a month, and one of them is Non-Farm Payroll AS that attracts many traders' attention. The indicators determine the employment amount outside the agriculture sector as the reflection of the economic power of the United States. In other countries of major currencies such as Australia, Canada, and the Euro area, the indicator is called the Employment Change.
Continue Reading at Everything You Need to Know About Fundamental Analysis
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
Why is PMI considered more useful in forex analysis than GDP?
GDP is published quarterly, and it is too long for companies to wait for GDP before making important decisions. Besides, different countries often have different methods of calculating GDP. Such a difference makes them practically incomparable.
Contrarily, an independent institution that counts PMI for many countries will certainly use a similar method. Unlike other economic reports published by government bodies, PMI is commonly held and published by private institutions. This ensures the independence of the survey and lends credibility to the result.
Continue Reading at Guide to PMI Data in Forex Analysis
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?