Access World economic data easily (How to navigate and analyse Trading Economics)

Hello and welcome to this special series on trading economics. In this video, I would be sharing with us how to use trading economics to analyze the global financial market and to use the information obtained on this website to get to place trades. In order to continue to enjoy good content like this one, I want us to like, subscribe and share this video so that others can also benefit from the information we are going to be sharing on this particular channel. This website is more elaborate than any of the economic event aggregator that we might possibly be using in the past. Some of the other alternatives that traders do use is the Forex Factory website, but this particular one is more elaborate. You have access to more information on this website than any other ones. That perform similar role. On the front page of this website, the first thing we would take note of is the major events that are taking place prior to that particular moment when you have launched the website. And yesterday, a big data was released from the United States, and that is the caption on this website at this particular point in time, said US economy had small jobs than expected in September because the non-farm employment change, uh, data was released from the United States yesterday and the data came out pretty, pretty good. And that's why we're having it as a headline on this website at this point in time. So taking a look at the right-hand side of the site, you get to see different assets that you can trade and obtain information on, uh, starting with the commodities. You have commodities, we have forex— that's talking about currency pairs— you have the index You have the stocks, you have the bonds, and then we also have access to information on the cryptocurrency market. So here we have Bitcoin, Ether, Binance, Cardano, and the likes of them. So you have access to all of these assets on this website. I would be starting now with the calendar. How do you utilize calendar on the Trading Economics website? So now we would click on calendar this way. So the calendar on this website Just as I was saying earlier, it's more elaborate than the one you have access to on Forex Factory or on some other news aggregator that we might have been used to. So you can see here, today happens to be Saturday, October 8th, 2022, and on this day, some data had been released from China. So you have this and then the composite PMI and the services PMI released from China earlier in the day. So that's That's with the calendar, but there are some other settings we also have the opportunity to do on this website. The first thing is the impact, or let me even start from the date. You have the opportunity to select the date. Do you only want to look at today? Do you want to check news about tomorrow? Do you want to look at this week, next week, next month, yesterday, previous week, previous month, or you want to customize the time? All of this is available to us. We are the one that will determine the length of the information we want to have access to at a particular point in time on this site. After the date, we have the impact, and on the impact, impact here is represented by stars. The first star, as we have here, can be likened to low impact event on Forex Factory website. So when you have one star, it means means the events you want to have access to should be low impact. When you have 2 stars, that means you are interested in focusing on medium impact events. And when you have the 3 stars, it means you are more interested in the high impact events. And for those of us that have been in this market for some time, we have been able to understand that it is the high impact events that gives us the kind of pips we are really looking forward to earning from the market. But once in a while, we can also still get to make something from the medium impact, which are the 2 stars. So I'm going to take out the check before the low impact, then I'm going to check the medium impact as well as the high impact events. So this way, all I will have access to at this point in time is just the high impact. But if I want to have access from the medium impact upward, then I check this way, then I have access from medium impact to high impact. So this particular setup at this time is better than what I had initially. So this one gives me access to medium impact as well as the high impact economic events. So from the impact, we have the countries. I also have the opportunity to select countries I want to access their information because this website is more elaborate, as I said earlier. So it covers a whole range of countries across the globe, especially countries make their data available, this website is going to cover it. So I can also decide which area am I looking at. Do I want to have access to data from Georgia, for instance, Algeria, Afghanistan, and the likes of them? And they are even broken down into different continents. So if I want to look at Africa, I just click on Africa. Then I look at different countries in Africa, which of them do I want to have access to their information. I check them out. Then I would click on save to save information concerning those countries which I want to be having access to. So that's how countries work. Then from countries, we have category. Category gives us the opportunity to select the category of information we are interested in. Am I interested in all events? Am I only interested in trading, interest rates, prices and inflation, labor market, GDP growth, foreign trade, government, business confidence, consumer sentiment, housing market, or the bond auctions. All of these are available. It is all left for me to select the ones I am interested in if I am not interested in all of them, or if I'm interested in all of them, I just pick all events and that wraps it up there. The last path is the selection of the time zone. The country where I'm making this video from happens to be on UTC+1. UTC+1 is synonymous with GMT+1, so that's why I'm on UTC+1. So depending on your nation, you can also get to select your time zone on this particular website so that whatever time being displayed on this site will be in your own local time. So I can save this at this point in time so that every information I'm going to be having access to now will only be according to Um, this particular event that I have selected. So I'm on recent. Let me just go with this week. So I have access to information for this week, but based on the countries I've selected, I already selected Africa, and that's why I couldn't have access to some of those information. So let me go with all. Then all countries across the globe, I will have access to their information from the medium impact to the high-impact economic event. So for the following week, or for the week that is to come, we have Monday, October 10th, and these are the time when those events are expected to be traded. And these are the currencies that the data is going to affect. We have TR— TR is Turkey. We have BR— that's Brazil. That's euro area. This one, EA, is euro area. We have the US. We also have the US. And this represents the data itself, the data we are interested in trading. And we have the actual. The actual is going to come out as at this time. For those of us that might not really understand this portion of this site, I will advise us to look out for a particular video that has also been made. Um, on forexfactory.com. So how do you trade with forexfactory.com? That already explains how to work with actual, previous, consensus, and the forecast as we have on this website. So this is how the calendar works. You have access to information across the globe, you interpret those information, and then you utilize them to trade. For instance, if you are, um, trading the Brazilian real, you will not have access to data from Brazil on forexfactory.com, but here we have On trading economics, this is a particular data from the Brazilian Central Bank, um, to be released by 12:30 PM on Monday. I have access to it here. This gives me the opportunity to know, oh, this would be a good time for me to trade the Brazilian real, for instance. And the rest of other countries' information are also available on this website. So from calendar, the next thing I'm having here is the news. So I go to news and I have different major news across different economies. Yes, so the news, we have one from China. So China composite PMI sinks to 4-month low. So I get to see this, and if I am interested in that particular news, I can read more by just clicking on it this way. Then it gives me more information about the composite PMI, what will likely be the effect of that particular information and the rest of them. Then the services sector also in China shrinks. This is already pointing to us that the Chinese economy is not really doing fine as much as they ought to, because key data that will tell us the state of the economy is not really pointing out a good state of the economy based on this. The PMI, that is the Purchasing Manager Index, is sinking. The services sector is shrinking. Which other sector is really developing if the purchasing managers are not really having confidence in the economy of China? Then the New Zealand dollar hits 30-month low. We've seen the greenback really surging massively against currencies across the globe, so it's not a surprise that the New Zealand dollar is hitting a low, a 30-month low against the greenback, because the greenback has been massively strengthened by the aggressive stance of the Federal Reserve and the rest of them. So you have a lot, a lot of news across currencies, commodities, and then the index covered when you come on the news segment of this website. So from the news, we have the market. The market is broken down into different assets starting with the currencies. The currencies are the currency pairs. So you have access to information about currencies When you go to currencies, so let's see what the currencies is going to look like. Yeah, so we have the currencies, we have the current price of the currencies, we have the day change in percentage, we have the weekly change on that particular currency pair, the monthly change on that particular currency pair, the year on year. So this year compared to the same level as at last year, And at what point in time was these figures obtained? So it's October 7th, as we have it here. So we could see the greenback gaining massively against all of these currencies. Yeah, so percentage drop in all of them against the greenback, whereas against the Japanese yen, we could see a surge because the Japanese yen happened to be the quote to the USD. That's why it's a plus in this instance, and we have it as negative, meaning the dollar has been strengthened against all of these currencies. Even including the Chinese yuan. And we will understand why the Chinese yuan is also losing from the previous information we saw on the news. They told us the purchasing manager index is dropping and the services sector in China is shrinking. So definitely the Chinese yuan is going to be weakened, and we can definitely get to see that from the percentage that is displayed on this particular page. That's currencies. So we can also do the same thing for the stocks. You see what the percentage either rise or drop in, uh, the price levels of each of those index has been like. And the good thing about this website is the inclusion of different continents. So you have Europe, you have different index from the Eurozone or the Euro area. It also includes America, so you have US30, US500, and the likes of them. You have Asia, uh, then we have Africa. Yes, you can see Africa. This is Nigerian Stock Exchange All Shares Index. That's the index that measures the relative strength of stocks listed on the Nigerian Exchange Group. So you have SA40, SAALL, Egyptian 30, and the likes of them. You trade or you are interested in investing in Africa, you can have access to information about the stock market in Africa also from this particular website. That's the market. And that's the stock portion. So we have commodities the same way. You have different commodities. This crude oil is the US oil. That's, that is WTI. We have Brent, natural gas, gasoline, and the likes of them under commodities. And from commodities, we have the bonds, different bonds across the globe. If you trade or invest in the bond market, you have access to information across the globe on the bond market. So we have cryptos, right? Crypto trader, you can get to see what the price change has also looked like, the market capitalization of the cryptocurrencies that you are interested in trading, the percentage gain or drop in price. You can also get to see it. And recently, one of these cryptocurrency has really, really defiled all logic. We are gradually seeing Ripple. Ripple at some point had an issue with the United States Securities and Exchange Commission. But it's looking increasingly every day that the Ripple project might be able to, um, judgment in their favor. And if that eventually happens, we might see Ripple continuing in this kind of massive gains that this site is currently showing to us, as, uh, that has happened on XRP, that is popularly called Ripple. So that's the crypto market. So you also go to earnings, you trade the stocks or you trade index. You can also pay attention to different stocks across the globe. When are they going to make available their earnings reports? What is the consensus going to look like? And are those companies able to meet up with the expectations? Whenever they do, you should be expecting a bullish move on those stocks. At that particular time. So you can pay attention to earnings from different companies across the globe also on this website. So from the earnings, you also have holidays. Do you want to know when a particular country will be on holiday? Get to see it also on this website. So holidays across the globe, which day, what's the name of the holiday, you see it on the website. That's— so that's it. On market. So from market, we move to indicators. Indicators are pointer to the state of the economy. Indicators make us to know if the economy is strong or is not doing so fine. So we have indicators like the inflation rate. We do not even need to check that because at this point, inflation rate across the globe is soaring higher. So we already know that. That's an established fact. But we also have some other indicators like interest rates. Central banks have been trying across the globe to arrest inflation rates by hiking rates. Yeah, they have been hiking interest rates in order to arrest the rise or the growth in inflation. We have unemployment rate, we have GDP growth, GDP per capita, GDP value, current account, credit ratings of different countries— are they creditworthy or not— wage growth, gold reserves— are they all holding, um, gold as a reserve government debt, what's the size of the debt of the government, crude oil production if they are an oil-producing country, gasoline prices across the world, then heatmap table of those countries. So you can analyze a particular economy by paying attention to these indicators that tell us, oh, this nation is not doing fine, this nation seems to be doing extremely well at this point in time, and countries, uh, so you can add more countries if you are interested in looking at those economies in depth. So from the United States to China to Japan to Canada to Australia to Brazil, and you also have the option of including more countries. So that's countries, and from there we have the forecast. So forecast across different assets that we've talked about. So from the countries to the crypto markets, what is the forecast going to look like? You have access to all of that, um, when you check the forecast. So I believe it's been an enlightening moment being a part of this particular edition of this series on this channel. So I look forward to having us very, very soon for another enlightening video that is going to be released. So it's a good time for us to like this video, subscribe, and then share this particular video. So I look forward to having us pretty, pretty soon. Thank you, thank you, and thank you.