Heh funny situation here
i mostly trade stocks but my roots are in forex, so i still use this site for the calendar... which is pretty fine if you dont trade news anouncements specifically (which i dont)
so recently i decided to dig in (lol slowpoke) into info that we are looking at daily
and... i realised that in some cases i had NO IDEA at what am i actually looking
(i monitor us fundamentals mostly)
here are a couple of examples:
1) any SAAR rate of change is bullshit. (hello GDP=) its basically an assumption that the current rate of change will stay same over the following year, and that resulting yearly rate of change is reported
gdp has hard numbers, but you have to look into release (and divide the dollar value for a given quarter by 4. reported rate of change is for REAL (chained 2005 gdp) btw - its different from current dollar (separate topic)
gdp is basically sales per given period
so for instance last reported change is 3%, but in real dollars gdp (sales) are up ~0.95% in 4th quarter, compared to 3rd
2) any diffusion index is BULLSHIT!..(hello PMIs ALL) basically it shows how many purchase managers said better conditions over worse. but it doesnt state TO WHICH EXTEND=)))
fun fact - JPMORGAN tries to predict EU gdp, and uses EU PMI as their basic guide
thats what i call predicting bullshit with bullshit=)))
unfortunatelly those guys in JPM are on payrolls (large) and live in a bubble, unlike traders who base decisions on their forecasts and risk their cash
...
anyway its just a couple of examples. i have dissected most major US fundamentals, can answer if you want anything particular
...
another point - FFactory gives economic indicators together with monetary and fiscal policy ones, without describing difference. which is sad...
///
sure dont forget that the same fundamentals are reported in bloomberg and reuters pro systems (without delay but still -same) so we as traders have to take into account the impact of reported numbers on market
I am more talking about situation where you want to make an overview about an economy - not as an economist, but to have at least a remote kind of idea in which state thigns are
modern paradimg is (trader - screen - real world) - so we need to keep out screens as clean as possible,
cause even the hard numbers reported are mostly surveys, which contain errors - (again, another topic)
i mostly trade stocks but my roots are in forex, so i still use this site for the calendar... which is pretty fine if you dont trade news anouncements specifically (which i dont)
so recently i decided to dig in (lol slowpoke) into info that we are looking at daily
and... i realised that in some cases i had NO IDEA at what am i actually looking
(i monitor us fundamentals mostly)
here are a couple of examples:
1) any SAAR rate of change is bullshit. (hello GDP=) its basically an assumption that the current rate of change will stay same over the following year, and that resulting yearly rate of change is reported
gdp has hard numbers, but you have to look into release (and divide the dollar value for a given quarter by 4. reported rate of change is for REAL (chained 2005 gdp) btw - its different from current dollar (separate topic)
gdp is basically sales per given period
so for instance last reported change is 3%, but in real dollars gdp (sales) are up ~0.95% in 4th quarter, compared to 3rd
2) any diffusion index is BULLSHIT!..(hello PMIs ALL) basically it shows how many purchase managers said better conditions over worse. but it doesnt state TO WHICH EXTEND=)))
fun fact - JPMORGAN tries to predict EU gdp, and uses EU PMI as their basic guide
thats what i call predicting bullshit with bullshit=)))
unfortunatelly those guys in JPM are on payrolls (large) and live in a bubble, unlike traders who base decisions on their forecasts and risk their cash
...
anyway its just a couple of examples. i have dissected most major US fundamentals, can answer if you want anything particular
...
another point - FFactory gives economic indicators together with monetary and fiscal policy ones, without describing difference. which is sad...
///
sure dont forget that the same fundamentals are reported in bloomberg and reuters pro systems (without delay but still -same) so we as traders have to take into account the impact of reported numbers on market
I am more talking about situation where you want to make an overview about an economy - not as an economist, but to have at least a remote kind of idea in which state thigns are
modern paradimg is (trader - screen - real world) - so we need to keep out screens as clean as possible,
cause even the hard numbers reported are mostly surveys, which contain errors - (again, another topic)