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  Latest
Make Money in Forex by Avoiding These Psychological Risks May 24, 2022
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Economic Reports

Mira Team by Mira Team
December 26, 2020
in Forex Terms
Reading Time: 1 min read
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Definition – What does Economic Reports mean?

Economic reports refer to the public release of important data that reflects on the health of a nation’s economy. Economic reports contain many hard numbers that are used as indicators in the forex market. The release of these indicators helps to confirm (or disprove) the hypothesis of fundamental traders and also creates price action that creates trends for technical traders to work with.
Some closely watched economic reports include:

  • Gross domestic product (GDP) numbers
  • Trade balance
  • Consumer confidence index
  • Beige Book (U.S. dollar)
  • Tankan survey (Japanese yen)

Economic reports are also known as economic releases.

ForexTerms explains Economic Reports

Economic reports are essential to both fundamental and technical traders. For fundamental traders, the figures within the reports tell them another bit of info that impacts their position. For technical traders, economic reports stir up the market and create more price action to crunch into trading models.

Countries make their economic reports around a set calendar, making it possible for traders to become “calendar traders.” These traders try to predict the contents of the release and trade ahead of the market reaction. Even for regular traders, the predictability of economic releases makes them excellent events to trade around.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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