A foreign exchange transaction requires the exchange of one nation’s currency for that of another. As such forex speculators should keep a keen eye on economic activity in multiple countries.
As a really rich source of knowledge for forex traders who wish to incorporate some kind of economic analysis into their trading plans, The International fund makes an extensive database of international economic data available to researchers free of charge at its official website.
The IMF typically updates its database in April then in September or October of each year.
Currency traders can employ this database to urge information for several of the world’s significant economies regarding: growth, current accounts, employment, inflation, balance of payments, trade balances, fiscal indicators, interest rates, and commodity prices.
With the arrival of electronic trading and various forex brokers, the commodities exchange has witnessed a huge surge in activity and now surpasses the futures market because the well-liked trading market for individual investors and speculators. When people ask the forex market, they typically are concerning the commodities exchange . The forwards and futures markets tend to be more fashionable companies that need to hedge their exchange risks bent a specific date within the longer term .