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FOREX ECONOMICS | ECONOMICS

HI6006 Competitive Strategy

FOREX ECONOMICS | ECONOMICS

Economics Assignment

Pick 5 economic events with a HIGH priority for the week of February 05  and 5 for the week of February 12.  Note the economic event, the expectation and the actual reported statistic.  Also note the effect on the currency against the USD.  If the HIGH priority item was a USD based report, note the affect of the USD.CAD pair.  Write a brief description of the economic event and why it is important.

You can use several tracking sites for the currency pair including CNBC and Yahoo.  However, actually trying to trade on the report will give you broader insight into the link between economic reports and currency fluctuations.  Download the virtual trading system at FXCM here .

You get $50,000 of virtual money.  Make $100,000 trades on each of the 10 reports and see what happens.  The marks you receive are for the report, not for whether you make money or not.
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Example:

July 15  German PMI Expected 54, Actual 56.5

(1 mark for the event, the expectation, and the actual read)

EUR strengthened against the USD by 73 pips

(1 Mark for identifying the move on the currency)

The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 is bullish for the EUR, whereas a result below 50 is seen as bearish.

(2 marks)

I bet that the report would come in below expectations and went short the EUR.USD pair.  I lost $730 dollars.

Each item has 4 marks total.  With 10 items, this assignment has a total of 40 marks for a weighting of 20% of the course.

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