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Economic Indicators
Economic indicators Forex aur CFD (contracts for difference) ke prices par asar dal saktay hain. Iss ke mutabiq, bohot se traders economic calendar par nazar rakhtay hain, taake wo kisi bhi mumkin volatility bumps se agah rahain jo ke agay aa sakte hain.
Duniya bhar mein mukhtalif governmental aur non-governmental agencies regular tor par kuch economic maloomat report karti hain. In reports ko tayar karne ke tareeqay mukhtalif ho saktay hain. Kabhi data itna seedha hota hai jitna ke ek khas segment ke mahana sales report karna. Doosri reports kisi hard data par mabni nahi hoti, balkay surveys mein record ki gayi rayeon par mabni hoti hain. Aur kuch reports existing data se extrapolate karke apne natayij nikalti hain.
Kuch indicators aapko current economic haalat ke bare mein batayenge; jabke doosray batayenge ke economy pehle kya kar chuki thi; aur kuch batayenge ke aage kya hone wala hai. Yeh aakhri set – jise leading economic indicators kaha jata hai – traders ke liye khas dilchaspi ka ba'is hain, kyunke yeh aane wali economic activity ke future trajectory ke bare mein behtareen insight dete hain. Indicators jo humein current state of economy ke bare mein batate hain unhe 'coincident' kehte hain. Aur jo pehle se hui cheezon ki tasdeeq karte hain unhe lagging indicators kehte hain.
In teenon ka apna apna faida hai aur yeh Forex market ko mukhtalif tareeqon se asar dal sakte hain.
Naye traders ke liye sabse bari mushkil yeh hoti hai ke kaunse indicators zaroori hain – wo jo ke ziada asar dalte hain – aur kaunse low-impact hain. Yeh maloomat faidemand hoti hai kyunke aik din mein bohot se economic indicators release hote hain, aur sab par nazar rakhna waqai mumkin nahi hota. Is maidan mein madad karne ke liye, humne ek Forex economic indicators ki explanatory list tayar ki hai.
Hamari economic indicators list mein humne unhein shamil kiya hai jo ke sabse zaroori samjhay jatay hain. In sab ka potential financial markets par strong asar dalne ka hota hai. Kyunke US economy duniya ki sabse bari economy hai, aur global financial markets ke performance par kuch asar dalti hai, hamari list US reports par focus karti hai, taake aapko best economic indicators provide kar sakein.
Gross Domestic Product (GDP)
GDP economy ki overall health ka sabse bara measure hai. Isay compile karne mein itna time lagta hai ke iska direct asar Forex aur CFD prices par aksar muted hota hai – aur jab tak data publish hota hai, uske bohot se components pehle se maloom hote hain, isliye expectations aksar kaafi accurate hoti hain. Yeh kehne ke bawajood, agar number expectations se bohot zyada mukhtalif aaye, phir bhi yeh market ko move kar sakta hai.
Apni lack of timeliness ke bawajood, yeh phir bhi ek bohot important indicator hai kyunke yeh business cycle mein hum kahan kharay hain isay confirm karne ke liye best measure hai.
Business cycle modern economics mein ek key concept hai. Ismein ek expansionary phase hoti hai, jahan economy ke bohot se hisse aik waqt mein grow karte hain, aur ek recessionary phase hoti hai, jab economic activity contract karti hai. Kyunke economic activity ka sabse broad gauge GDP hai, economists tend karte hain ke hum business cycle mein kahan hain yeh dekhne ke liye GDP ke growth aur contraction ko dekhtay hain.
Recession ki technical definition hai GDP mein do mutataliq quarters mein contraction. Recession khatam hoti hai jab hum growth ka quarter dekhte hain. Politicians, policymakers, aur economic analysts sab iss indicator par focus karte hain, kyunke yeh itna comprehensive measure hai. Investment banks jo top-down approach se Forex analysis adopt karte hain, wo general economic climate ke projections banane se start karte hain. GDP foreign exchange market macroeconomics ke iss tareeqe ke analysis ka ek key hissa hai.
Professional traders ke tor par, humein bhi issey waqif hona chahiye, magar aapko yeh bhi samajhna chahiye ke GDP ek lagging indicator hai, iska main use yeh hai ke jo hum already expect karte hain usay confirm kare. Iski lack of timeliness ka matlab hai ke short aur medium-term trading ke liye iska utility limited hai. US GDP sirf quarter mein aik baar aata hai, aur earliest estimate bhi kaafi pehle ka hota hai.
Bohot faidemand, isliye, kuch aisa hoga jo GDP ka close proxy ho, magar jo ziada frequently report karta ho – jo humein aglay indicator par le jata hai.
Nonfarm Payrolls (NFP)
Aik minute EUR/USD chart neeche aisay move ko illustrate karta hai. Blue vertical line Employment Situation report ke release ko mark karti hai jo 1 November 2019 ko release hui thi, sirf aik misaal dene ke liye ke aisay event ka asar kitna ho sakta hai. Notice karen ke price sirf aik minute mein kitna sharply move kiya? Aur notice karen ke report release hone ke baad har bar ka average range kitna bara ho gaya, comparison mein pehle ke.
Impact ka itna extent kyun hota hai?
Jawab ka ek hissa report ki timeliness mein hai. Employment cycle aur business cycle closely related hain aur historically, nonfarm payrolls (NFPs) mein changes aur quarterly GDP changes ka path bohot milta-julta hota hai. Yeh close correlation ka matlab hai ke payroll data GDP ke proxy ke tor par use ho sakta hai.
In dono mein farq yeh hai ke nonfarm payrolls mahana aate hain, aur month end hone ke chand din baad report karte hain. Muqabla mein, GDP quarterly report hoti hai, aur bohot ziada delay ke sath.
Jawab ka doosra hissa yeh hai ke report ka monetary policy par asar hota hai. Maximum employment aur stable prices FED ke Teen Monetary Objectives mein se do hain (yeh do key goals aksar FED ke dual mandate kehlate hain). Isliye, employment data future monetary policy direction ke market perceptions par bohot asar dal sakta hai.
Unemployment Rate
Unemployment rate ko labor force ka wo percentage define kiya jata hai jo actively kaam dhoond raha hota hai. Recovery ke periods mein, unemployment ek lagging indicator ke tor par act karta hai. GDP ke bottom out hone ke baad bhi unemployment mein izafa dekhte hain. Unemployment consumer sentiment se closely tied hoti hai (hamari list mein number five dekhein). Lambi muddat ki unemployment consumer sentiment ko bohot nuqsan pohnchati hai, aur consequently consumer spending aur economic growth ko asar dalti hai.
Just nonfarm payrolls ki tarah, unemployment data bhi CFD traders ko FED ke follow kiye gaye key metrics ke insights deta hai. Iska matlab hai ke expectations se koi bhi strong divergence Forex aur stock markets par bara asar dal sakta hai. Sab kuch equal hone par, US labor market ki kamzori stocks ke prices aur US Dollar ke liye conventionally bearish hoti hai.
Agar aap economic announcements ka faida uthana chahte hain, jaise ke US unemployment rate, Admirals trading account lena iska perfect tareeqa hai! Forex aur CFDs par 80+ currencies trade karen, Forex majors, Forex minors, aur exotic currency pairs mein se choose karen, technical analysis aur trading information tak access ke sath. Sahi tareeqe se trade karen, apna live account kholne ke liye neeche diye gaye banner par click karen!
Federal Funds Rate
Federal Open Markets Committee (FOMC) aik saal mein aath martaba milta hai regular schedule ke hissa ke tor par US monetary policy tay karne ke liye. FOMC meeting ka nateeja Forex market ko bohot asar dal sakta hai, agar expected course se koi disparity ho. Forex rates ko drive karne wala ek key fundamental do countries mein interest rates ka level hai, aur in interest rates ke hawalay se expectations hain.
Agar FED federal funds rate mein koi tabdeeli karta hai, ya future monetary policy ke hawalay se perceptions ko alter karta hai, to yeh US Dollar, duniya ki sabse important currency, ko asar dalta hai. Har FOMC meeting ke baad release hone wale statement ke hissa ke tor par, FED future monetary policy ke expected path ke hawalay se forward guidance provide karta hai.
Yeh ek maqool tor par recent measure hai, jo greater transparency provide karne ke hissa ke tor par financial markets mein volatility reduce karne ke effort mein hai. Isska nateeja yeh hai ke monetary policy mein tabdeeli aksar kuch had tak advance mein communicate hoti hai. Iska matlab hai ke forward guidance khud market ko move karne ka potential rakhti hai, bilkul jaise ke policy mein actual tabdeeli. Ek serious Forex ya CFD trader hamesha ensure karega ke wo FOMC Meetings ke Calendar se waqif hai.
Consumer Confidence Index/University of Michigan Index of Consumer Sentiment
Hamari list mein number five par do reports hain. Consumer Confidence Index, jo Conference Board compile karta hai, aur Consumer Sentiment Index, jo University of Michigan compile karti hai. Bohot se consumer surveys hain, magar yeh do sabse mashhoor aur economists aur Forex/CFD traders ke zehan mein sabse ziada follow kiye jate hain. Yeh reports isliye important hain kyunke US economy ko kuch bhi consumer spending jese drive nahi karta. Consumer confidence humein batata hai ke consumers kaise feel kar rahe hain.
Agar wo apni jobs mein secure feel kar rahe hain aur apne future economic prospects ke bare mein optimistic hain, hum kya infer kar sakte hain? Yeh logical hai ke presume karein ke wo zyada spending karne par inclined ho sakte hain. Yeh economic growth ko drive karega. Kyunke consumer optimism ya pessimism ka economy ke prospects par itna strong implication hota hai, yeh do reports kisi bhi leading economic indicators list mein shamil honi chahiye. Consumer Confidence Index month ke end mein aata hai, jabke University of Michigan apni survey mahine mein do martaba publish karti hai.
Iska preliminary reading month ke doosre last Friday ko hota hai. Ek final estimate do haftay baad follow karta hai. Yeh reports Forex aur stock markets par sabse ziada asar dalti hain, jab business cycle turning point ke qareeb hota hai. Strong consumer sentiment economy ke aage possible upturn ki taraf ishara karta hai, jo stocks ke liye bullish hota hai. Weak consumer sentiment ek downtown ko presage karta hai, aur stock market ke liye bearish signal hota hai.
University of Michigan survey zyada frequently aata hai, jo faidemand hai. Conference Board ka report wider body of respondents ko sample karta hai, jo ke greater statistical reliability ko imply karta hai. Dono business cycle ke turns ke sath kafi achi tarah correlate karte hain, lekin ye heavily influenced hote hain labor market se. Agar unemployment high rahe jab ke economy ke doosre hisse recover kar rahe hoon, market sentiment depressed reh sakta hai, aur aise me ye lagging indicator ki tarah behave karte hain.
Consumer Price Index (CPI)
CPI goods aur services ki cost ko measure karta hai, index-linked to a base starting point. Ye humein ek objective handle provide karta hai ke prices kitni tezi se badh rahe hain ya gir rahe hain. Jaise ke humne pehle article me mention kiya tha, price stability FED ke dual mandate ka hissa hai. Jab inflation target levels ke andar hoti hai, to isay normal ya even desirable samjha jata hai. Lekin agar inflation bohot door chali jaye target se for too long, to ye economy par bohot negative effects daal sakta hai.
Economists at the FED PCE price index par focus karna prefer karte hain jo ke GDP report ka part hota hai. Ye sirf quarterly report hota hai, to Forex aur CFD traders aksar CPI ko follow karte hain kyunke ye inflation ka zyada timely indicator hai. CPI ki usefulness as a leading indicator for the economy limited hai. Ye business cycle ke turning points ka poor predictor sabit hui hai, despite natural aur logical association between economic growth, demand, aur higher prices.
1970s aur early 1980s me high inflation US economy ke liye ek real issue thi. Contrarily, global financial crisis ke baad deflation (sustained price decreases) ka real danger tha. Deflation economy ko hurt karti hai by incentivizing consumers to hold off making purchases kyunke future me prices cheaper hongi, jab tak prices girti rahengi. Jab consumer spending GDP ka itna bara hissa hota hai, to ye economic growth ko slow kar deta hai, aur ek vicious circle create kar sakta hai.
Kyunke inflation directly monetary policy me feed karti hai, CPI report bond, FX, aur stock markets me high impact kar sakti hai. Jaise usual, diversions from expected results zyada high impact tend karti hain. For example, agar CPI expected se zyada high aata hai, to ye perceptions alter karta hai ke FED zyada likely hoga monetary policy ko tighten karne ke liye. Sab kuch equal hone par, ye US Dollar ke liye bullish hona chahiye.
Similarly, ek CFD trader aise inflationary data ko stock market ke liye bearish samajh sakta hai, kyunke tighter monetary policy risk appetite ko curtail karti hai. Financial crisis ke baad se, hum ek bohot low inflationary environment me hain, jisne Federal Reserve ko bohot loose monetary policy ke sath stick karne par majboor kiya. Ye kuch had tak responsible hai for the extended bull-market jo humne US me dekhi hai.
Industrial Production Index
Industrial Production Index US output ka level measure karta hai (in terms of quantity of material produced rather than Dollar amount) relative to a base year over three broad areas: manufacturing, mining, aur gas and electric utilities. Report Federal Reserve compile karta hai, aur ye month ke middle me publish hota hai. Kuch index data hard data se aata hai, reported directly for certain industries from trade organisations ya official surveys, lekin ye monthly basis par hamesha available nahi hota.
Gaps fill karne ke liye, FED estimates banata hai using proxies, jaise ke hours worked from the Employment Situation report, ya industry me month by month power usage. Index calculate karne ka full process best place kehta hai dekhne ke liye, methodology involved ke liye – FED ki 'Explanatory Pages'. Hundreds of components index ko banate hain, jo index level ke tor par report hota hai.
For example, September 2019 ke industrial production index ka preliminary release 109.52 aaya tha. Ye current output ka expression hai relative to the base year. At the time of writing, FED 2012 ko base period use kar raha tha. September 2019 level of 109.52 signify karta hai ke production levels base period of 2012 ke average level se 9.52% zyada hain. Manufacturing sirf roughly 20% of the US economy banata hai, lekin FX aur CFD traders ke liye closely monitored hota hai.
Industrial sector important hai kyunke construction sector ke sath sath, ye majority of the change in US output dekhte hain jo business cycle me hota hai, aur structural economic changes ke evolution me insights de sakta hai. Industrial Production Index procyclical hota hai. Ye matlab ke iski movements aur business cycle ke changes me agreement hoti hai. Is index aur economic activity ke beech correlation itna close hota hai ke kuch analysts is report ko as an early signal for GDP performance use karte hain.
Capacity Utilization
Capacity Utilization indicator gauge karta hai ke US manufacturing sector full capacity ke proportion me kaise run kar raha hai. Full capacity ki definition ye hai ke greatest level of sustainable output ek factory achieve kar sakti hai within a realistic framework. In other words, ye normal downtime jese cheezon ko consider karta hai. Ye industrial production index ko full capacity index se divide karke calculate hota hai.
Ye humein manufacturing/economic health ka timely indication provide karta hai, aur trends me jo manufacturing sector me form ho rahe hote hain unke bare me insight bhi deta hai. Ye inflation ke bare me bhi clues de sakta hai. Agar factories high demand par run kar rahi hain, ye reasonable assumption hai ke producers prices raise kar sakte hain. Agar factories apni maximum capacity ke qareeb run kar rahi hain, machines overworked hone ke natayij me fail hone ke chances hote hain.
Machines offline le jane ka risk hota hai workers ko lay off karne ka at a time of high demand, jo undesirable hota hai. Accordingly, manufacturers zyada likely hain ke high demand ko prices raise karne ke through cope karen, rather than laying off workers. Ye, turn me, consumer prices me feed through hota hai, leading to higher inflation. Conversely, agar capacity utilisation low levels par run kar rahi hai, to ye economic weakness ka signifier hota hai.
As a general rule, 78% se below rates historically tend karte hain point karne towards forthcoming recession – ya even mean karte hain ke economy already recession me hai. Aise, ye indicator FED trends gauge karne ke liye use karta hai manufacturing me, wider economy me, aur inflation me. Ye CFD traders ke liye follow karne ke liye ek important indicator banata hai, particularly for bond traders, lekin ye shares aur FX markets me involved logon ke liye bhi ek key marker hota hai.
Retail Sales
Retail Sales zyada well-known hai as Advance Monthly Sales for Retail Trade, full name dene ke liye. Ye, lekin, Forex traders me simply retail sales ke naam se zyada jaana jata hai. Census Bureau, jo ke U.S. Department of Commerce ka ek division hai, report roughly month ke do hafte baad release karta hai, at 08.30 ET. Report retail sector me nominal Dollar value of sales ka early estimate deti hai (that is, number inflation ke liye adjust nahi hota) aur ye number ko previous month se percentage change ke tor par bhi report karta hai.
Usually, ye latter figure hota hai jispar CFD aur Forex traders respond karte hain. Ye ek closely-followed report hoti hai aur agar reported figure aur Wall Street expectations me bara divergence ho to market prices me perturbations send karne ka potential rakhti hai. Kyunke personal consumption expenditures (PCE) growth of US economy ka major contributor hoti hai. Ye worth comparing hoti hai with the Personal Income And Outlays report from the Bureau of Economic Analysis (BEA).
Ye specifically ek PCE component include karti hai, jo phir directly GDP calculations me feed hota hai. Report me covered data retail sales report se zyada comprehensive hota hai. Crucially, lekin, retail sales data kuch hafte pehle aata hai, thus effectively same area of the economy me timely insight provide karta hai. Agar retail sales badh rahi hain, to ye economic health ka indication hota hai, aur stock market ke liye bullish effect rakhta hai.
Strong sales data prices ko badha sakta hai, lekin, inflationary considerations ko into account lena padta hai. Ye US Dollar ke liye positive effect rakhta hai, lekin bond prices ke liye bearish hota hai. Conversely, retail sales report me weakness stock market ko depress karti hai, US Dollar par bearish hoti hai, lekin bond prices ke liye bullish hoti hai.
Report ke kuch components unwanted volatility contribute kar sakte hain analysis perspective se. Motor vehicles, kyunke aise items expensive hotay hain, evenly distributed nahi hote month to month. Accordingly, analysts aksar retail sales par focus karte hain, auto sales ko exclude karne ke liye taake unpredictable variations remove ho jayein, aur underlying trends ko easily perceive kar sakein.
Durable Goods Orders
Durable Goods Orders ka report Census Bureau, jo ke U.S. Department of Commerce ka part hai, release karta hai. Advance Report on Durable Goods, full name dene ke liye, roughly 18 business days into the month release hota hai, month ke baad jiske liye ye report kar raha hota hai (precise day vary karta hai according to the schedule of other key releases at the time). Durable goods un items ko define karte hain jo at least three years tak last karne ki expectation hoti hai. In other words, hum generally expensive items ke bare me baat kar rahe hain jo infrequently kharide jate hain.
Ye infrequency report ko volatility ka subject banati hai aur aapko bohot careful rehna parta hai jo aap ek single report me read karte hain isolation me. Analysts aksar report ka transport component exclude karte hain, to try and mitigate ye volatility. Dusra method employ kiya jata hai consider karna ek series of reports ko ek sath taake kisi underlying trend ka feel gauge kiya ja sake. Also, beware of revisions to a previous month's data, jo substantial ho sakti hain.
Agar demand strong hai aur companies ek upbeat outlook rakhti hain, hum expect karenge ke new orders for durable goods me increases dekhen. Dusri taraf, weak economic climate me, hum expect karenge ke lower orders dekhen. Isliye, strength in this report risk appetite ke liye bullish hota hai, aur weakness bearish hota hai.
Jitna CFD traders ka sawal hai, strength in durable goods stocks ke liye positive sign hai, sab kuch equal hone par. Forex market me, ye similar story hai USD ke liye jesa stocks ke liye: ek strong report USD ke liye bullish hoti hai, kyunke ek burgeoning economy zyada tend karte hain towards tighter bias in monetary policy from the FED.
Initial Jobless Claims
Initial Jobless Claims 'Weekly Report' measure karta hai un logon ki number jo first-time claims kar rahe hain unemployment benefit insurance ke liye. Ye labour market ki strength par ek useful update provide karta hai, particularly jab ye coincide karti hai with the sample week used for the 'Employment Situation' report.
'Jobless Claims' ek useful resource hain trying to get a feel for upcoming movements in the all-important monthly nonfarm payrolls report, though there is not a precise correlation between the two. Short-term changes in the labour market zyada likely hoti hain reflect hone me weekly initial jobless claims data me, rather than monthly employment report. Phir bhi, ye one of the more impactful weekly reports hoti hai on FX and CFD prices.
Final Words
Hum umeed karte hain ke ye detailed definitions of economic indicators aapke liye helpful sabit hui hain. Of course, list comprehensive nahi hai, lekin aapko lagna chahiye ke yeh shamil hain unme jo Forex trading ke liye zyada impactful economic indicators hain. Bear in mind, jab hum economic results ka possible impact describe karte hain, to ye 'ceteris paribus' ke caveat ke sath hai.
Iska matlab, actual results zyada nuanced ho sakte hain simply ek variable hone ke bajaye. Ek strong payrolls result normally US Dollar ke liye ek bullish result consider kiya jata hai, lekin Forex traders ko inflation expectations ko bhi dekhna padta hai jo monetary policy ko influence kar sakti hain, dusri central banks ka path kya hai, aur Forex market me kya already priced in hai.
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