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Knowing major banks' FX positions can be important for certain traders, as it provides insights that can help identify low-risk, high-reward, and high-probability entry points in the market.

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PMI comes on a scale of 100, with a median of 50. Any number under 50 means the economy is in contraction, while over 50 suggests business expansion. A decrease could be read as an economic decline during the period, while an increase shows ongoing recovery.

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As a matter of fact, yes. For instance, there is often a correlation between the rise of the US Dollar and strong gains in stock indices like Dow Jones, NASDAQ, and S&P500. Similarly, a correlation has been observed between the Nikkei stock index and the Japanese Yen.

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The only way to know the change of interest rates of any major country is by monitoring the economic calendar. Besides, the released schedule of the interesting announcement of central banks, which is released once a month, is also important. The demand for a currency will be very sensitive to the central bank interest rate. Traders using certain strategies like carry trade pay the most attention to the news of interest rates changes.

Continue Reading at Everything You Need to Know About Fundamental Analysis