Retail Sales News for Forex Trading
Retail sales data compiles the number of goods sold by stores throughout the country, both book stores, hіреrmаrkеt, malls, grосеrу tоrеѕ, and others. Data is usually published every month. However, data fluctuations can be very high, especially during the times leading up to and after the holiday seasons such as Christmas, New Year, Chinese New Year, and Eid.
All major currencies will be affected by US retail sales data. In addition, retail sales data from the UK will also be high, due to various consumer-driven countries.
Labor and Unemployment
This data is also obtained from each month by the related entity. Scheduled data can account for various labor-related matters, including unemployment rate (unemployment rate), number of new job creations (regular earnings), regular income. Especially for the United States labor data, there is also Non-Farm Pаrоll (NFP) data which shows the total number of non-farm sectors of the economy every month.
All major currencies will be affected by United States employment and unemployment data. However, the exchange rates of other countries' currencies will also be affected by the respective employment data. Why so? Because the status of work force is one of the economic boosters. The more unemployment, the lower the salaries of employees, then the country's economic future is getting worse. On the other hand, the better the absorption of labor in a country, the higher the growth in employee salaries, then the economic machines will work better as well.
Industrial and Manufacturing Products
Industrial and Manufacturing Product data shows how well this activity is in a country. Usually released every month. If this data outperforms exact, it means that the economy is doing well and currency exchange rates will strengthen. However, if the data misses the point, it means that the economic growth is slower, so the exchange rate is likely to weaken.
Trade Balance Data
Trade balance data collects the total import and export total of a country, then reduces it. If imports are higher than exports, it means that there is a trade deficit. Meanwhile, if the export is higher than the import, it means that there is a traffic flow out. The surplus condition will support the strengthening of the currency exchange rate, but the deficit will weaken the exchange rate.
In addition to trade balance data, there is also a running transaction balance (Current Account). In contrast, Current Account not only admits import-exports, but also the flow of money in and out of a single country at once. Only, current account data is released three or six months, so it doesn't have much impact on the exchange rate.
Hence the seven most influential fundamental news that forex traders need to pay attention to. However, a good trader doesn't just ublk these scheduled news stories. Regular periodicals, referendums, wars, virus epidemics, and generals will also change the fundamental value of currency exchange rates. The performance of the stock market, foreign exchange, as well as the business and investment climate can also encourage the strengthening or weakening of the exchange rate.