The publication of economic news is the presentation of a wide variety of economic statistics and reports, like the Gross Domestic Product, inflation, interest rates or unemployment, the trade balance of the industrial retail production index. And several important studies and data are the announcements from the most prominent national financial organizations and authorities.
The Department of the Treasury and the Federal Reserve in the USA or the Bank of England in the United Kingdom are examples of such financial institutions. To illustrate the influence of economic news on trading, let us use an example.
On June 13, 2018, the Federal Reserve in the USA increased its key interest rates by 25 basis points from 1.75 percent up to 2 percent. The effect was that the dollar gained strength against the emerging market currencies and reached three weeks high against the Japanese yen after the announcement of the Fed. The way of profiting from this situation was to buy US dollars and sell the Japanese yen on the trading platform.
The economic calendar at Olymp Trade
To keep track of economic information uses the Economic calendar available on the Olymp Trade platform. You will find it in the “Analytics” section in the menu in the top left corner.
To read more about the Economic calendar provided by Olymp Trade, read the following article about using the calendar tool on Olymp Trade.
Have a great time trading!
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