The eToro Blog: Bringing You the Trader's Point of View
The eToro Blog: Bringing You the Trader's Point of View
Any trader worth his salt knows that keeping up with economic news constitutes an essential part of forex trading. The forex market is highly unstable and is constantly affected by many economic factors such as interest rates, supply and demand, economic growth etc. Economic data releases are particularly likely to cause a storm in the forex market and it is therefore very important to read up on what economists are predicting for each data release.
There are many online forex news services that provide traders with the basic information about what is happening in the global economy, however due to this abundance of information it can sometimes be hard to figure out which economic factors to take into consideration when trading, or even how to apply what you've learned to your trading strategy. This is why new services such as the forex blog, are now starting to include commentaries by professional traders that put things in perspective.
The eToro Blog's Trader's Insight column, for instance, discusses major forex economic events and how they affect the currency markets, so that traders can know what to watch out for when reading economic news and what impact various changes in economic indicators are likely to have on the forex market as they unfold. These types of columns are extremely useful, especially for traders without a background in economy, not just because they enable you to apply the economic information you read more easily, but mainly because they teach you have to put the forex market in a wider perspective that includes other markets and global macro-economic shifts. It is important to remember that the currency market does not exist in a vacuum and is very sensitive to economic and political forces. By learning to put economic data in perspective you will definitely increase your chances of success in the forex market.
Any trader worth his salt knows that keeping up with economic news constitutes an essential part of forex trading. The forex market is highly unstable and is constantly affected by many economic factors such as interest rates, supply and demand, economic growth etc. Economic data releases are particularly likely to cause a storm in the forex market and it is therefore very important to read up on what economists are predicting for each data release.
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