Remember that economic indicators usually contain revisions to previous data sets. So although the importance of figures lies in the extent to which they fall outside market expectations, be aware that an unexpected rise could be the result of a downward revision to the previous month. So look at revisions to older data before you use this as a basis for making a trade.
Unlike a stock market, the foreign exchange market is divided into levels of access. At the top is the inter-bank market, which is made up of the largest commercial banks and securities dealers. Within the inter-bank market, spreads, which are the difference between the bid and ask prices, are razor sharp and not known to players outside the inner circle.
Achieving success in the complex world of currency trading can be a daunting task. Newcomers to the genre are frequently discouraged by the apparent length of time that must be invested in acquiring knowledge and free demo experience before active trading with real money can commence.