I’ve been reading up a lot about technical analysis, but very little on fundamental.
Today at 8:30 am all pairs including a USD either shot up or down.
I checked the news on OANDA and five headlines appeared exactly at 8:30 am. They all started with “USD DATA NOW” so I assume they were important news items that created this drastic change.
1- 26-Jul Initial Claims 448k (Prev: 404 4Cast: 395 Mkt: 393)
2- Q2 GDP Annualized (A) 1.9% q/q ann (Prev: 0.9 4Cast: 0.7 Mkt: 2.3)
3- Q2 Employmencost index 0.7% q/q (Prev: 0.7 4Cast: 0.7 Mkt: 0.7)
4- Q2 GDP Deflator (A) 1.1% q/q ann (Prev: 2.6 4Cast: 0.4 Mkt: 2.4)
5- Q2 Core PCE Price Index (A) 2.1% q/q ann (Prev: 2.6 4Cast: 0.4 Mkt: 2.4)
What exactly were these news items and why did they affect the markets the way they did? (USD Dropping about 80 pips in 10 min)
I’m going to start reading more about how news can affect things, since today I realized how big of an impression it can make. Any recommendations on lessons/books?