It has been quite awhile since I have last updated as my day job has been keeping me busy.
Since my last update, I have been focusing on some of the most basic economic indicators. These indicators provides some insights as to how well the economy is doing right now. While trading for forex is done over that 5 minutes interval, it is still important to keep an eye on the current economic situation. One of the most commonly watched indicators are the interest rates by the Central Banks. It is worth taking the time out to find out more on the interest rates in US, UK and even China. Information about the prevailing interest rates as well as the possibiblity of an increase/decrease in interest rates are extremely useful in forex trading. The movement of the currencies traded on forex are largely influenced by the interest rates. Any signs of interest rates changes can move the forex market. Do take the time out to find out more about policies by Central Banks and how it affects interest rates.
While I’m still learning, I’ll share more about interest rates and other ecomonic factors, as well as how it affects currency movement in forex, in a later blog posting.
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