So, I basically trade off order flow, intermarket analysis (FX, Bonds, Equities and Commodities) and correlated counterparty asset flows.
But I decided to add a few macro economic indicators to my analysis. And if you do not currently use any form of fundamental analysis in your trading, you may want to start from the ones below.
Because central banks always keep their eyes peeled on these data (among other things) and these data influence monetary policy.
Likewise, traders should always measure these data.
1. UNEMPLOYMENT RATE measured by NON FARM PAYROLL (FOR US ECONOMY).
2. INFLATION measured by CONSUMER PURCHASING INDEX CPI
3. CONSUMER SPENDING measured by RETAIL SALES.
4. MANUFACTURING measured by PURCHASING MANAGERS INDEX PMI
Please note that when measuring unemployment data, always go in depth and analyse the individual sector data as well as the quality of wages so you can tell a clearer better story of the unemployment situation.
You can also watch the short video here;
Lastly, here is a video showing how to trade using macro-economic indicators.
Yours in the quest for success & significance!