To check what percentage that you are being charge use the calculator and subtract the money you have after exchange from the money you had before the exchange 'money before - money after' and divide the money before into the result and that will give you the percentage you are being charged (money before - money after/ money before). You should not be charged any more than 3% if you are, look elseware for a better exchange charge.
You may recognize some of these economic reports, unemployment numbers, retail sales, consumer price index and housing stats, Each indicator informs you with data that can be useful. Here I show you a overview of four major reports, some of which are fundamental indicators used by equity investors:Consumer Price Index (CPI) The CPI is a measure of the change in the prices of consumer goods accross a broad range. The report compared to a nation's exports, will tell you if a country is making or losing money you should monitor the exports - it is a focus that many traders use because the prices of exports often change relative to a currency's strength or weakness.
Gross Domestic Product (GDP) GDP is considered the broadest measure of a country's economy, and it represents the total market value of all goods and services produced in a country during a given year. Since the GDP figure itself is often considered a lagging indicator, most traders focus on the two reports that are issued in the months before the final GDP figures: the advance report and the preliminary report. Significant revisions between these reports can cause considerable volatility. The GDP is somewhat analogous to the gross profit margin of a publicly traded company in that they are both measures of internal growth.
Retail Sales The retail-sales report measures the total receipts of all retail stores in a given country. This measurement is derived from a diverse sample of retail stores throughout a nation. The report is particularly useful because it is a timely indicator of broad consumer spending patterns that is adjusted for seasonal variables. It can be used to predict the performance of more important lagging indicators, and to assess the immediate direction of an economy. Revisions to advanced reports of retail sales can cause significant volatility. The retail sales report can be compared to the sales activity of a publicly traded company.
Industrial Production This report shows the change in the production of factories, mines and utilities within a nation. It also reports their 'capacity utilizations', the degree to which the capacity of each of these factories is being used. It is ideal for a nation to see an increase of production while being at its maximum or near maximum capacity utilization.
Traders using this indicator are usually concerned with utility production, which can be extremely volatile since the utilities industry, and in turn the trading of and demand for energy, is heavily affected by changes in weather. Significant revisions between reports can be caused by weather changes, which in turn, can cause volatility in the nation's currency.
Consumer Price Index (CPI) The CPI is a measure of the change in the prices of consumer goods across over 200 different categories. This report, when compared to a nation's exports, can be used to see if a country is making or losing money on its products and services. Be careful, however, to monitor the exports - it is a focus that is popular with many traders because the prices of exports often change relative to a currency's strength or weakness.
Some of the other major indicators include the purchasing managers index (PMI), producer price index (PPI), durable goods report, employment cost index (ECI), and housing starts. And don't forget the many privately issued reports, the most famous of which is the Michigan Consumer Confidence Survey. All of these provide a valuable resource to traders, if used properly.
So, How Are These Used? Since economic indicators gauge a country's economic state, changes in the conditions reported will therefore directly affect the price and volume of a country's currency. It is important to keep in mind, however, that the indicators discussed above are not the only things that affect a currency's price. There are third-party reports, technical factors, and many other things that also can drastically affect a currency's valuation.
Here are a few useful tips that may help you when conducting fundamental analysis in the foreign exchange market:
Keep an economic calendar on hand that lists the indicators and when they are due to be released. Also, keep an eye on the future; often markets will move in anticipation of a certain indicator or report due to be released at a later time.
Be informed about the economic indicators that are capturing most of the market's attention at any given time. Such indicators are catalysts for the largest price and volume movements. For example, when the U.S. dollar is weak, inflation is often one of the most watched indicators.
Know the market expectations for the data, and then pay attention to whether or not the expectations are met. That is far more important than the data itself. Occasionally, there is a drastic difference between the expectations and actual results and, if there is, be aware of the possible justifications for this difference.
Don't react too quickly to the news. Oftentimes, numbers are released and then revised, and things can change quickly. Pay attention to these revisions, as they may be a useful tool for seeing the trends and reacting more accurately to future reports.
There are many economic indicators, and even more private reports that can be used to evaluate the fundamentals of forex. It's important to take the time to not only look at the numbers, but also understand what they mean and how they affect a nation's economy. When properly used, these indicators can be an invaluable resource for any currency trader.
When I come to a page like this the first thing I think of is,if I use this it will take me a day of studying and then I click and go somewhere else. Spreadsheets take a while to learn but not this one doesn'tThis calculator can be used as a adding machine and the numbers you enter in the calculator display window will be sent to the total form if you press the Tot button in the lower right hand corner of the calculator. This one little thing will save you time because you don't have to rekey your work to check for accuracy when you add long columns of numbers and it's editable in case you make an error. One thing to know is that forex trading is a zero sum gain and is a form of gambling. The spreadsheet calculator to the left can be used as a adding machine , for saving quote prices, Budgetiing and profit and loss in currency trading. Make an entry from the calculator key pad and ress the Tot button on the calculator and the amounts will be transferred from the calculator display to the form below and totaled in the form. Copy and paste from the money converter to the calculator dislay window .