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Random article: Forex Market Trading Hours
The main feature of global Forex market is that there is no centralized ground for holding trades as it for example takes place in stock market. All market players (banks, investment funds, hedge funds, insurance companies, brokers etc.) work in different time zones around the globe. As the result, rate fluctuation keep going all the time. Official time of market operation is 24 hours, 5 days a week from 8 p.m on Sunday till 11 p.m of Friday (UTC/GMT). Exception is state holidays when all financial bodies are out of duty. On holidays Forex market works unofficially as well but because of the low liquidity and activity volumes, it is rather hard to find liquidity suppliers on the market. During that time all financial operations take place between various financial entities, banks and more often upon urgent issues.
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Popular article: Chicago PMI Definition
Purchasing Managers' Index of Chicago (Chicago PMI) represents a summary report of surveying Chicago managers specializing in industrial purchases. Obtained results allow evaluating current conditions of manufacturing orders, inventories as well as price dynamics in this manufacturing field. Should the final value be under “45-50” level, it tells about negative economic tendencies. This index is announced on a monthly basis on the last business day at 10:00 a.m EST (New York). Its market influence is strong, because forecast of PMI published later depend on the index. Growht of Chicago PMI is accompanies by consolidation of national currency.
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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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