Forex Economic Calendar
BabyPips.com's forex economic calendar helps you dig deep into all the financial events, without the heartburn of forex analysis paralysis.
Now that you're up-to-date with the economic events that rock the forex market, make sure you also know how to trade them. Count on Pip Diddy’s Daily Forex Fundamentals reports to help you understand what these trends could mean to your favorite currencies! Looking for a pair to trade? Head on over to Big Pippin's blog and check out the setups he spotted on his Daily Chart Art.
The Philadelphia Fed Index, or the Philly Index, is a monthly survey by the Federal Reserve Bank of Philadelphia to manufacturers in Philadelphia, New Jersey and Delaware. A reading below zero indicates contraction in the manufacturing sector, while a positve reading indicates that business is expanding.
Why should I care?
Expansion or contraction in the manufacturing sector can be a leading indicator for overall market activity. Although this is a regional report, traders consider it to be a good prediction of the information on the Purchasing Managers' Index, which reflects similar data for the entire US.
The OlsenScale (SMQ)
The Olsen Scale quantifies the market activity according to the Scale of Market Quakes (SMQ).
Similar to the Richter scale which measures the release of seismic energy during an earthquake, the SMQ relates excessive pricing along various price and time scales to historical data by assigning a single number to it. On a constant basis, the scale therefore characterizes the state of the market.For more information visit OlsenScale.com