1. Federal Reserve Bank (Fed): Federal Reserve Bank of the United States.
The central bank of the United States makes monetary policy completely independently to ensure the maximum inflation-free economic growth. The main policy indicators of the Federal Reserve include: open market operation, discount rate and federal funds rate.
2. Federal Open Market Committee (FOMC): Federal Open Market Committee.
FOMC is mainly responsible for formulating monetary policy, including issuing 8 announcements of key interest rate adjustment every year. FOMC*** has 65,438+02 members, namely, 7 government officials, the governor of the Federal Reserve Bank of New York, and 4 members elected from other governors of 65,438+065,438+0 local federal reserve banks for a term of one year.
3. Interest rate: interest rate
That is, the federal funds rate, the federal funds rate, is the most important interest rate indicator, and it is also the overnight lending rate for mutual loans between savings institutions. When the Fed wants to send a clear monetary policy signal to the market, it will announce a new interest rate level. Every such announcement will cause great turmoil in the stock, bond and currency markets.
4. Discount rate: discount rate
It is the interest rate charged by the Federal Reserve when commercial banks apply for loans due to emergencies such as reserve funds. Although this is a symbolic interest rate indicator, its change will also express a strong policy signal. The discount rate is usually lower than the federal funds rate.
5.30-year national debt: 30-year national debt.
Also known as long-term bonds, it is the most important indicator to measure inflation in the market. Many times, the market measures the level of bonds by their yields rather than prices. Like all creditor's rights, 30-year treasury bonds are negatively correlated with prices. There is no clear relationship between the exchange rate of long-term bonds and the US dollar, but there is generally the following relationship: because inflation leads to a decline in bond prices, that is, an increase in yield, the US dollar may be under pressure. These considerations may be caused by some economic data.
6. Economic information
Faced with the constant changes in the economic situation of various countries, many new foreign exchange investors often feel at a loss. In order to let foreign exchange investors have a clear understanding of the economic data of various countries, this paper briefly introduces the economic data that have great influence on the market.
The monthly (or quarterly) economic statistics released by the United States have the greatest impact on the foreign exchange market, followed by the data of euro zone countries (mainly euro zone, Germany and France), Japan and Britain, followed by the data of Australia, Canada, Switzerland and other countries. American economic data has the greatest impact because the US dollar is the most important currency in the international foreign exchange trading market, and also because the US dollar accounts for more than 50% of the international trade settlement methods.
From the content of economic statistics, the order of the effects is interest rate adjustment, unemployment data (non-agricultural employment population in the United States), gross domestic product, industrial production, foreign trade, inflation rate, producer price (price) index, consumer price index, wholesale price index, retail price index, purchasing manager index, consumer confidence index, business climate index, construction data, factory orders, personal income, automobile sales and average.
There are also some economic data that will also have an impact on the exchange rate, but compared with the above data, the impact and role are relatively small. The most important of all these economic data is the adjustment of interest rate and unemployment data, which does not mean that other data are unimportant, and their influence on exchange rate is different in different situations. For example, when the market has the expectation that the central bank will adjust interest rates, it will pay more attention to inflation-related data such as consumer price index and retail price index; When the market pays attention to the economic prospect, it will pay attention to the data of industrial production, purchasing managers' index, factory orders and other production conditions.
In addition, under certain market expectations or exchange rate fluctuations, speeches, speeches and articles published by monetary policy officials, famous commentary institutions, figures or influential newspapers in relevant countries will also have a greater impact on the foreign exchange market, especially when there are no important data released in various countries.