August 2008
Intermediate to advanced
208 pages
6h 50m
English
book
Sentiment in the Forex Market: Indicators and Strategies to Profit from Crowd Behavior and Market Extremes
by Jamie Saettele
Content preview from Sentiment in the Forex Market: Indicators and Strategies to Profit from Crowd Behavior and Market Extremes
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P1: PIC/b P2: c/d QC: e/f T1: g
c02 JWBK195-Saettele May 31, 2008 11:19 Printer: Yet to come
12 SENTIMENT IN THE FOREX MARKET
All of the charts shown here are monthly (since the indicators that
we are looking at are released once a month) and the correlations are
3-year (36-month) correlations. The economic indicators that are assumed
to be of utmost importance when it comes to valuation of the U.S. dol-
lar are the nonfarm payrolls report (Employment Situation), the Treasury
International Capital number (investment flows), the U.S. trade balance,
gross domestic product, and the Consumer and Producer Price indexes. I
have included rather detailed descriptions of the economic indicators as
well. If you are going to enter into a debate with someone who contends
that economic indicators are the secret to trading success, then it is wise
to know what you are arguing about. You will also see that some of the
ways in which the economic numbers are calculated are suspect, to say the
least.
NONFARM PAYROLLS
On the first Friday of the month, the Employment Situation report is
released by the Bureau of Labor Statistics (BLS). To be honest, the release
of the indicator can, and often does, lead to one of the more exciting
days to be in the market. It makes sense that analysts and traders would
assume that employment is critical to currency valuation. A country that
cannot employ its citizens is certainly facing ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.