what are the key fundamentals to watch for when trading forex? what economic indicators do u use? pls explain?
pls untangle justify the correlations if u have time ie...when this indicator goes up, the value of the currency goes own etc etc
I get wind of what you are asking. There are a wide variety of gossip events (known as fundamentals in the forex arena) but, from my sustain, the greatest movers are the consumer consequence index, the producer price indication, and the non-farm payrolls number. Other dirt events, like the weekly jobless claims issue, retail sales, and any sort of lodgings data tend to move the market reduce most of the time. I have not found GDP to move the market as much as many think, but it CAN move the hawk, especially if the number is unexpected. Other movers contain the ISM and ISM Services, Michigan Consumer Tenderness Index, Trade Balance, Philly Fed, Empire Constitution Index, Retail Sales, PCE, Richmond Fed, and Heavy-duty Goods. News from any major following, like GM, may slightly affect the dollar as well. One of the biggest indicators of all is any message that will affect interest rates on either side of your currency team up-here in the US it is the Fed, but in Japan it would be the BOJ, BOE in England, etc. I have given you some of the monthly reports that will modify the dollar but for a currency pair you will have to inquire equivalent fundamentals for BOTH currencies-so for the CAD/JPY it would be effective to examine Canadian as well as Japanese fundamentals. Other larger economies will also have an affect on any currency couple, due to the law of one price and the effects of arbitrage in the beget markets.
No one is going to give you correlations because they are universal to be different for every currency and different every prematurely. I am sure by doing a search you could find some red-letter correlations for the pairs you desire, but it always extensive to do your own research by watching the pair(s) that you pick out and seeing the real minute by summary reaction, instead of just at predetermined times.
Forex Factory provides a encomiastic calendar of when the events take place, for all the majors:
http://www.forexfactory.com/appointment book.php
Have fun. I don't know if youre new to trading but if so you should be sure its hard work-just like being a doctor, barrister, or business owner. The biggest dupe as an entrepreneur in any field, especially trading, is NOT to pay attention to to anyone that says you can't do it, nor to the ones who tell you its amicable-dumb and dumber my friend. Get in your own zone, never imperil more than 2% of your capital, never be afraid to take a drubbing, control your costs, and set yourself up to profit when a figure repeats itself.
Essentially the 
"While indicators of pricing power set forward that the moderating trend will continue, upside risks traces significant. The momentum indicator of non-food manufactured products inflation is yet to show a clear downward trend.
