Last week traders saw plenty of PMI data from a number of key global economies. Emerging markets sold-off heavily alongside their currencies while equity traders started to take profits. Which data point do you pay the most attention to now as there is plenty of conflicting material out there to digest.
I have moved my focus more to inflation data (I do not trade economic data, but think it would be foolish to ignore economic data). The reason why I decided to focus more on inflation data than any other economic report is due to the massive stimulus plans in place which are likely to be reduced/increased with inflation plus economic strength (or the absence of it).
PMI data was mixed which created plenty of great trading opportunities. I think the EURUSD was the biggest benefactor of last week's data as Europe showed better than expected data while the US disappointed. I think this trend may continue throughout 2014.
I have moved my focus more to inflation data (I do not trade economic data, but think it would be foolish to ignore economic data). The reason why I decided to focus more on inflation data than any other economic report is due to the massive stimulus plans in place which are likely to be reduced/increased with inflation plus economic strength (or the absence of it).
PMI data was mixed which created plenty of great trading opportunities. I think the EURUSD was the biggest benefactor of last week's data as Europe showed better than expected data while the US disappointed. I think this trend may continue throughout 2014.