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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
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
How to read PMI data for forex analysis?
PMI comes on a scale of 100, with a median of 50. Any number under 50 means the economy is in contraction, while over 50 suggests business expansion. A decrease could be read as an economic decline during the period, while an increase shows ongoing recovery.
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?