My forex trading assignment for today is to find out what happens to Canada’s ecomony if Japan’s ecomony weakens. Since I have no clue how to figure out this answer on my own, I am going to email the question to some forex experts and economics experts. Once they answer the question for me I will share the answer with you.
The reason I would like to know the answer to this question is that I feel knowing how one country’s economy impacts on another allows you to better use fundamental analysis to make smart trading decisions. It’s one thing to know that economic news about a nation can impact it’s currency by increasing or decreasing its value. It’s another thing to be able to determine how one country’s news will impact on another country’s currency.
So I will be endeavoring to find out how one country’s good or bad economy impacts on other countries from among the countries whose currency is considered one of the majors. My focus will be on understanding how Japan’s economy impacts Canada’s ecomony, how Canada’s ecomony impacts the US economy, how the US ecomony impacts Japan’s ecomony, how Japan’s economy impacts the UK’s ecomony, how the UK’s ecomony impacts the US ecomony and so on.
By all means if you happen to have some ideas please share them by leaving a comment. If you’re trading, hope today is a profitable day for you.