hello all im a forex newbie im trying to learn to trade on the news.
yesterday (august 14 2009) the CPI m/m for the month of July was released. Before it was released, the forecast was that it would go up by 0.1%. I understand that the impact of the CPI m/m on forex is quite high. I cant tell the effect as of know since im a newbie.
But when I read the report on the bls.gov website, it has a bunch of things im unclear about.
When a forex website makes a prediction and they non-specifically forecast a CPI number, what CPI number on the bls.gov website are theu referring to? The CPI for Urban areas? The bls.gov report summarizes taht the CPI remained unchanged. But when you read the report they say that the CPI-U (urban) was unchanged.
But inside the report it says that the CPI-U went down by 2 points but the "seasonally adjusted" one remained unchanged.
So my question is, for making forex decisions, and to refer to the number that many forex forecasting website so baldly refer to, which CPI indec number should I be looking at?
yesterday (august 14 2009) the CPI m/m for the month of July was released. Before it was released, the forecast was that it would go up by 0.1%. I understand that the impact of the CPI m/m on forex is quite high. I cant tell the effect as of know since im a newbie.
But when I read the report on the bls.gov website, it has a bunch of things im unclear about.
When a forex website makes a prediction and they non-specifically forecast a CPI number, what CPI number on the bls.gov website are theu referring to? The CPI for Urban areas? The bls.gov report summarizes taht the CPI remained unchanged. But when you read the report they say that the CPI-U (urban) was unchanged.
But inside the report it says that the CPI-U went down by 2 points but the "seasonally adjusted" one remained unchanged.
So my question is, for making forex decisions, and to refer to the number that many forex forecasting website so baldly refer to, which CPI indec number should I be looking at?