Top 5 Economic Events that Every Forex Trader Should Know – TipRanks.com
Top 5 Economic Events that Every Forex Trader Should Know - TipRanks.com TipRanks
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FOMC Meeting Minutes
The minutes from the Federal Open Market Committee (FOMC) meetings are like the secret diary of the U.S. economic decision-makers, only publicly shared. Traders hang on every word, hunting for hints about future monetary policy. A mere whisper of interest rate changes or economic outlook adjustments can send the dollar soaring or sinking.
Non-Farm Payrolls (NFP)
Released on the first Friday of each month, the NFP report can sometimes be an adrenaline shot of Forex trading. It accounts for a majority of the workforce, and the numbers reflect new jobs created in the U.S., excluding farm employees and a few others. Why care? Because job creation is a leading indicator of consumer spending, which drives economic activity.
CPI Inflation Data
The Consumer Price Index (CPI) measures what you and I feel in our wallets—the price of goods and services. It’s the headline inflation figure that central banks watch to decide if they need to adjust interest rates to keep inflation in check. For traders, higher-than-expected inflation data could mean a stronger currency, at least in theory, as it could lead to higher interest rates. Inflation is less about what you pay for eggs and more about how it influences monetary policy.
Federal Reserve Chairman Speeches
When the Fed Chairman speaks, the Forex market listens. The impact of these speeches can be profound and immediate. Every nuance is analyzed; traders look for clues behind the words that might indicate changes in policy.
European Central Bank (ECB) Meetings
The ECB governs the euro, and its decisions directly affect the second-most traded currency in the world. ECB meetings, where they discuss monetary policy, interest rates, and economic outlook, can cause significant volatility. The euro doesn’t just respond; it can either rally or retreat depending on the new tone set by the ECB.
Live Currency Rates – TipRanks.com
SDGs, Targets, and Indicators
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SDG 8: Decent Work and Economic Growth
- Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
- Indicator: Non-Farm Payrolls (NFP) report reflects new jobs created in the U.S., which is a leading indicator of economic activity.
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SDG 10: Reduced Inequalities
- Target 10.4: Adopt policies, especially fiscal, wage, and social protection policies, and progressively achieve greater equality.
- Indicator: CPI Inflation Data, which measures the price of goods and services and influences monetary policy.
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. | Non-Farm Payrolls (NFP) report reflects new jobs created in the U.S., which is a leading indicator of economic activity. |
| SDG 10: Reduced Inequalities | Target 10.4: Adopt policies, especially fiscal, wage, and social protection policies, and progressively achieve greater equality. | CPI Inflation Data, which measures the price of goods and services and influences monetary policy. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: tipranks.com
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