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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?
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
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