Thanks mate, likewise I am also trying to build my fundamental knowledge base. Fundamentals do drive the market, kind of like a company’s third quarter update drives it’s share market performance. However, unlike fundamental analysis of the share market, I find interpreting economic information a bit more difficult.
Ilovepizza has previously directed me to a few different central bank report sites but putting it all together into a working model takes time and experience. Hence my questions about going for
Yep, been living in the country (WA) for the last two years.
Perfect time zone for part time trading and full time work, except I shouldn’t really be chatting right now , lol
I know what you mean though, all this info can be daunting, and it’s so dynamic too. That’s why I’m following along here, one report at a time, one trade at a time. I have no idea how long it will take, but I am learning a lot, so that’s good enough for now. Occasionally the Op kicks my lazy butt and asks me to write an essay, then embarrasses me with the right answers!!! But it keeps me on my toes.
I am keeping my technical approach simple, and will not trade anything unless it conforms to the rules I have set out. A few times this week this has coincided with economic releases. I can’t say if it’s a pattern or not, but I’m not at the stage where I can confidently trade on fundamentals only, so for now I’ll stick with my setup. It is nice to know why the market is doing what it’s doing though, adds a bit of comfort.
So we know inflation has dropped over the past two quarters in Australia and thus is currently not an issue the RBA has to contend with. It has room to cut interest rates by a further 25bp but does the economy need the extra boost? Housing demand is up but we have low commodity prices. Chinese growth is slipping but at 7.7% does the RBA need to use its invaluable tool right now? The cash rate is getting lower and like other countries that have aggressively cut interest rates if it gets too low the tool loses its value.
Anyway, thoughts? I am thinking the Aussie dollar is now back in an uptrend and surely next week’s rate decision will be the deciding factor.
It says that this thread is named as the “Most Viewed” so I have to check it out. I just read a few pages so far. I am glad to see that we have a trader here who actually do trade fundamental/news events not just doing the analysis. Other thread that I’ve seen who seems they copied and paste the “analysis” via internet but not do the actual trading…
I will follow along…
Btw, Chicago style pizza is way better than the New York style pizza (…New Yorkers knows it… )
No true…and if so, so what? They still make good pizzas. Especially the Hawaiian with Canadian bacon…yumm. I bet it is way better than what they make in the west coast…
I am in a sideline for now until tomorrow…So many good opportunities to trade this week ahead…
I could maybe have predicted the bearish moment in the JPY pairs after CAD and USD news but I didn’t!
What I can’t really explain myself and however I don’t see how I could have predicted it is the bullish moment in the EUR/CHF pairs. I would be really interested in hearing your point of view.
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