The world of currency is a fast-moving world. This is because huge moves can come from nowhere anytime. One of the major factors that shape the movement of the market is forex news. As a new trader, you can make your trades to be more profitable if you know what forex news to look out for. Here is important forex news that you should never miss if you want long-term success.
Central Bank Rates
All the various central banks of different world economies usually come together every month to decide on the interest rates that they will charge. They can decide to change the rates by raising them or lowering them. They can also decide to leave them unchanged. As a forex trader, the outcome of their decision will be very important. This is because the currency of that economy will be affected by that decision. If the central banks raise their rates, it is a bullish sign for that particular currency. If the rates are lowered, it will be a bearish sign.
The health of the economy of any country is indicated by its GDP. This is because the GDP of the country measures its economic growth. When the GDP of a country falls below what people were expecting, then the currency of that country falls. On the other hand, when the GDP outshines expectations, its currency rises in value. You can, therefore, use these figures to anticipate how the market will move.
The rate of unemployment in a country is an important indicator of how healthy an economy is. Central banks, therefore, use these data to determine how the state of the economy. Higher employment rates make the central banks to raise their interest rates so that they can balance growth with inflation.
These figures should draw your attention as a trader. Other important figures include the NFP figures and the US ADP. They are usually released every month. These figures can help you to trade more profitably so that you can grow your capital. You can get these important forex news at UK Forex News.
Economic indicators such as consumer price index are used to measure the rate of inflation in a country. This index consists of the historical prices of a certain basket of market goods. It then determines whether the prices of the goods have risen or fallen. Central banks use these data to determine their rates.