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Random article: Purchasing Managers' Index Definition
Purchasing Managers' Index (National Association of Purchasing, PMI index) represents a summary report of surveying managers in the field of industry. PMI index is used to measure change of production output, the number of new industrial orders, inventories as well as operation speed of suppliers. The goal of this economic indicator is to provide the information about shaping of price policy, tendencies in business and broadly in the economy. PMI (otherwise called NAPM) is measured as percentage % from 1 to 100. Respondents to the survey answers simple questions. Choice of answers is usually limited by “yes”, “no” and “no change”. Taking into account the structure of questions, it is hard to escape a conclusion that psychological factors heavily impact index value, which can distort figures.
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Popular article: Forex traders’ psychology: buyers and sellers
Forex market has its driving forces. Such forces are participants of market. For clarity, it is accepted to divide them into several types: bulls, bears, pigs, rabbits, hogs, lambs. In this zoo, driving forces are exactly bulls and bears. Their clear intentions and determination can greatly influence currency rates. This terminology was adopted from stock market, where emotions play not the last role in movement of quotes, thus, analogy with animals and their typical behaviour provides a clear idea on psychology of market participant.
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Forex encyclopedia
Forex encyclopedia “Clever FX” is the unique service created by FreshForex to introduce world of Forex to traders. The main purpose is to share knowledge of experienced traders with novice traders in simple and convenient form. Every trader will be able to learn something new here. If you are a professional trader, we invite you to write an article for “Clever FX” and get reward. Let's write Forex history together!
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