oussama94
05-29-2017, 00:25
Interestingly enough, according to a National Bureau of Economic Research
(NBER) working paper titled “Macroeconomic Implications of the
Beliefs and Behavior of Foreign Exchange Traders,” by Yin-Wong Cheung
and Menzie D. Chinn, in 1992 the trade balance was actually the most
market-moving indicator for the U.S. dollar in the first 20 minutes of the
release. At that time, the nonfarm payrolls release was third. In 1999, unemployment
or nonfarm payrolls took the top place while the trade balance
fell to fourth. As indicated by Table 4.1, the nonfarm payrolls report continues
to be the most market-moving release for the U.S. dollar, and the trade
balance has completely fallen off the radar screen for many traders.
(NBER) working paper titled “Macroeconomic Implications of the
Beliefs and Behavior of Foreign Exchange Traders,” by Yin-Wong Cheung
and Menzie D. Chinn, in 1992 the trade balance was actually the most
market-moving indicator for the U.S. dollar in the first 20 minutes of the
release. At that time, the nonfarm payrolls release was third. In 1999, unemployment
or nonfarm payrolls took the top place while the trade balance
fell to fourth. As indicated by Table 4.1, the nonfarm payrolls report continues
to be the most market-moving release for the U.S. dollar, and the trade
balance has completely fallen off the radar screen for many traders.