Jonathan and Rory talk though the importance the economic calendar for all traders. A lot of traders believe that certain data doesn’t move the markets enough and that they should ignore it. But using this information to your advantage can give you a trading edge.
The economic Calendar provides real-time updates on economic news and trends, allowing individuals to make more informed investment decisions.
This information gives you a macro outlook, allowing you to a receive an insight into key data such as GDP, Inflation, Unemployment, international relations & political changes.
During the episode, Rory & Jonathan share how they use the data not just for volatility trading but to confirm or deny pre-existing biases we may have. For example, if you think the economy is struggling and the PMI report is growing each time, the market might not move but maybe you should change your bias? It’s about using the data in your favour to add further confirmations which will in turn help your consistency.
The Blokes then discuss the PCE index, which is released next week, what it means and the importance of it to traders. Rory mentions how the PCE is the Fed’s preferred method to gauge inflation along with describing exactly how it’s calculated.
If you really want to improve your trading, then you need to use all the resources at your disposal to build a bias whether that bullish or bearish.
Listen now to find out more!