Market analysis
How CPI and inflation move forex
The market does not trade inflation; it trades the central bank's response to it. That is why gold can fall…
Macro
7 articles in this section.
Fundamentals
Reading an economic calendar and filtering what matters
Markets react to the gap between actual and forecast, not to the absolute number. How to cut the calendar down…
Fundamentals
How interest rate differentials move exchange rates
Markets trade rate expectations, not the current level. Why a rate rise exactly as forecast can send the currency down.
Market analysis
Market seasonality: real or not
Twenty years of data gives only twenty observations per month. The deciding question: is there a mechanism behind the pattern,…
Trading costs
Deposit and withdrawal costs, and how to cut them
The exchange spread on converting local currency to dollars is typically 0.5-1.5% each way - far more than the fees…
Fundamentals
The recurring macro calendar, in UTC
The events that move currency markets repeat on a fixed schedule. Set the reminders once and use them all year,…
Market analysis
What NFP is, and the three numbers to read rather than one
August 2026 payrolls came in at 162,000 against a 56,000 forecast, pushing the odds of a Fed hike to 60%.…