06:41 2020-08-04 UTC+00
The Demo account serves an educational function; in fact its deposit consists of virtual funds, and it enables a trader to practice trading and gain professional skills without risking any real money. When forex trading on a demo account, both profit and loss will be virtual, whereas trading experience is remarkably similar to real-life conditions. Each step of opening a demo account is comprehensively described in this section.
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|Time||Country||Macroeconomic Indices||Period||Previous Reading||Forecast||Actual Reading||Importance|
A country's trade balance reflects the difference between exports and imports of goods and services. The trade balance is one of the biggest components of the Balance of Payment, giving valuable insight into pressures on country's currency.
Surpluses and Deficits
Ramifications of Trade Balance on Markets
However, because of the overall significance of Trade Balance data in forecasting trends on Forex, the release has historically been one of the more important reports in any country.
|06:30||RBA Interest Rate Decision||Aug||0.25%||0.25%||0.25%|
|The Reserve Bank sets the target 'cash rate', which is the market interest rate on overnight funds. It uses this as the instrument for monetary policy, and influences the cash rate through its financial market operations. Decisions regarding the cash rate target are made by the Reserve Bank Board and explained in a media release announcing the decision at 2.30 pm after each Board meeting.|
|06:30||RBA Monetary Policy Statement|
The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negatvie (or bearish).
|15:30||RBC Manufacturing PMI (s.a.)||Jul||47.8||44.1||52.9|
|Manufacturing Purchasing Managers Index. It reflects either improvement (>50) or worsening (<50) of the situation compared with the previous month. Growth in the indicator and higher-than-expected reading favors the local currency.|
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