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How do fundamental data contribute to your forex analysis?
Fundamental and important data affect the demand for a currency, especially the Gross Domestic Product (GDP), the Consumer Price Index (CPI), and the Employment Figure. Those three indicators reflect the economic condition of a country and they directly affect the exchange rate of the currency.
Whatever strategy you use in trading, you must monitor the three data mentioned for determining the tendency of currency's price movement based on the capital inflow and outflow in the country. The country with a strong economic condition will attract more investors so more money supply will flow into the country, and vice versa.
Continue Reading at Everything You Need to Know About Fundamental 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
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
Are there any correlations between stock market indices and currencies?
As a matter of fact, yes. For instance, there is often a correlation between the rise of the US Dollar and strong gains in stock indices like Dow Jones, NASDAQ, and S&P500. Similarly, a correlation has been observed between the Nikkei stock index and the Japanese Yen.
Continue Reading at Correlation Between Stock Market And Forex