Economic indicators are very crucial when it comes to Forex trading. Since the forex market is highly dependent on the stability of a particular nation’s economic condition, investing into the currency needs due diligence. It is for this reason that the economic indicators should be paid a lot of attention before investing into the Forex market. Moreover, the economic conditions also reflect how well the currency is balanced against their pairs. LiteGraphs helps you in getting the market insights that can be leveraged to track the economic conditions of the market. LiteGraphs review emphasizes on the economic calendar tool that is highly crucial in tracking the macro-economic movements which impact the forex fluctuations.
What are the different economic indicators to keep a track on?
It might often be very difficult for a beginner trader to track all the macroeconomic factors that can drive an economy. But here is a list of the major macroeconomic factors that should be taken care of:
- Gross domestic product: Gross domestic product is an important macroeconomic factor that lets you understand the current economic strength of the country. In turn, it decides how strong the Forex currency of that nation is.
- Unemployment rate: Higher the unemployment rate lesser is the contribution of that person into the gross domestic product. Unemployment rate directly impacts their purchasing power in the nation. If the unemployment rate is higher, then the gross domestic product will also be higher, thus leading to a higher economic stability.
- Diversification of the national income:How well is the national income well diversified across the different sectors and the genders too is crucial for a nation’s growth. Employment should not just only focus on the engagement of a particular sector of the population into a single income source.
- Strength of the Forex reserve: The forex reserve is highly crucial as it tells the strength of the foreign currency exchange that takes place within the nation. Moreover, the balance of trade with the different economies is also helpful in understanding if there is a surplus or deficit.Being a participant of the Forex trading market. It is important that you take a note of the forex reserve strength of the nation.
- Inflation rate: Inflation rate is also one of the key factors that you must take a note of while investing into the Forex market. A nation with the creeping inflation or horse running implication are at a danger of financial crisis.
LiteGraphs helping you to experience the best when it comes to forex trading
With LiteGraphs, now you can enjoy the trading journey as you keep a track on the financial movements and the macro-economic factors of the nations. Moreover, tools like the economic calendar will also help you to keep a track of major economic changes that take place in the nation. As a form of guidance, the personal account managers are tagged with every client. In case you miss out on any global news, the account managers will keep a track of it and help you in making your positions accordingly. Sign up with LiteGraphs right now and stay ahead of the market sentiments.