Introduction
Forex trading is a complex subject, but it is made easier with the right information. Blueberry Markets offers comprehensive beginner courses that are designed to empower traders with the knowledge they need to make successful trades. This article from the Blueberry Markets beginner course resources highlights the top economic news events for forex trading and explains their impact on the forex market.
Unemployment Report
The employment report is often seen as one of the most influential reports in the economic calendar. Each month the US Bureau of Labor Statistics provides jobs data, and the market takes it as an indication of the strength of the US economy. Generally, a strong number is seen as a positive sign for the US economy and USD. On the other hand, a weak number is seen as a negative sign and could weaken the US dollar.
The report includes details on the number of people employed during the past month, the civilian unemployment rate, and the average hourly wage earnings. The numbers are comprehensive and investors turn to them to gain insights into the future of the economy.
Gross Domestic Product (GDP)
Gross domestic product (GDP) is a measure of the total value of goods produced and services provided in a country during a period of time. The release of the GDP data is always met with expectations from market participants.
A higher than expected growth rate implies that the economy is performing better than expected and will be seen as a bullish sign for the currency. Conversely, a weaker GDP number can have a significant impact on the exchange rate.
Consumer Price Index (CPI)
The Consumer Price Index (CPI) is a measure of inflation in a country, which is used to gauge the economic health of the country. It measures the price of a basket of consumer goods and services like housing, clothing, food, transportation, and energy.
If the CPI is higher than expected, then it can indicate increasing inflation. This can result in the central bank increasing interest rates in order to control the inflation, which can lead to a appreciation in the value of the currency. On the contrary, if the CPI is lower than expected, then it can indicate slowing inflation, in which case the central bank may lower interest rates, resulting in a depreciation of the currency.
Overall, economic data can provide insight into how strong, or weak, an economy is performing and can have a direct impact on the currency. As a forex trader, it is essential to keep up with the news to identify the catalysts that move the market and potentially create trading opportunities. Use the Blueberry Markets beginner course resources to help you stay up to date with economic data and to become an informed Forex trader. Blueberry Markets Review
Overview of Blueberry Markets
Blueberry Markets is an Australian broker founded in Sydney which offers Forex, Commodities, CFDs and even Cryptocurrency trading. Although it is a relatively new broker, it has quickly gained a strong reputation among traders due to its quality of service and competitive pricing. The firm also offers very tight spreads, and hence low transaction costs to its clients. This is coupled with excellent customer service and fast order execution. All-in-all, Blueberry Markets is an ideal broker for any type of trader.
Features of Blueberry Markets
Blueberry Markets offers its clients a range of unique features that make trading with them an enjoyable experience. Firstly, their trading platforms are modern and intuitive. This is especially beneficial for those who are new to Forex or CFD trading. The platforms are accompanied by extensive analytical tools and powerful indicators that allow traders to make informed trading decisions.
Blueberry Markets also has a wide range of tradable instruments which include over 50 currency pairs, commodities, stocks, indices and cryptocurrencies. This allows traders to diversify their portfolios, protecting their investments against market volatility. Besides this, the brokerage is also well-regulated by ASIC – meaning that clients’ funds are safe and secure at all times.
Account Types at Blueberry Markets
Blueberry Markets offers a variety of account types depending on the trading experience of the trader. For those who are new to trading, the broker offers a special demo account which allows them to practice trading with virtual funds. Once they have acquired the necessary experience, traders can open any of the live accounts such as the Standard, Pro or the VIP account. With these accounts, traders can access all the financial assets the broker offers.
Conclusion
In summary, Blueberry Markets is a trustworthy and reliable broker with one of the best reputations in trading. The broker is well-regulated and offers a wide range of trading instruments to its clients. Additionally, the broker offers its clients tight spreads and fast order execution. That said, Blueberry Markets is a great choice for any trader, both experienced and novice, looking to trade with a reliable and reputable broker.
