The economic calendar is a forex trader’s best friend, or so they say. Keeping abreast of events in the global economy is the hallmark of a successful trader. Among other things, the economic calendar keeps track of important reports and releases such as PMI. The PMI and other reports have a massive influence on market sentiment and, by extension, the market's risk … [Read more...] about PMI and Its Impact on Forex Trading
U.S Jobless Claims Fell by 33,000 for the Final Week of January
U.S. initial jobless claims for the week ending January 30 was 779,000, down 33,000 from the previous week, according to the Department of Labor press release. Thursday’s jobless claims reflect a weakened job market as it is still a historically high total due to the impacts of the pandemic. The 4-week moving average jobless claims was 848,250, down 1,250 from the … [Read more...] about U.S Jobless Claims Fell by 33,000 for the Final Week of January
How Forex Traders Should Properly Utilize ISM Manufacturing Index
You are a serious forex trader if you spend a lot of time reading financial news outlets searching for actionable information. If you do so regularly, you might have come across stories about manufacturing data. Traders use the data to gauge the possible direction of the economy. This information is compiled into what experts call purchasing managers index (PMI). In the … [Read more...] about How Forex Traders Should Properly Utilize ISM Manufacturing Index
U.S Economic Activity in the Service Sector Rose for the Eighth Consecutive Month
U.S Services PMI hit 58.7% in January, up one percentage point from December's level of 57.7%, according to the Institute of Supply Management press release. The reading is the highest since February 2019 and the eighth straight month of growth in the services sector. The overall Business Activity Index fell by 0.6 percentage point from 60.5% in December to 59.9% in … [Read more...] about U.S Economic Activity in the Service Sector Rose for the Eighth Consecutive Month
U.S Private Sector Added 174,000 Jobs in January
Private sector employment rose by 174,000 jobs in January from December, according to the ADP National Employment press release. The employment growth reflected a slow recovery in the job market amid COVID-19 headwinds. By Company SizeMedium businesses added the most jobs at 84,000Small businesses added 51,000 jobs.Large businesses added the fewest jobs at … [Read more...] about U.S Private Sector Added 174,000 Jobs in January
