Market Influences

Economic
• Economic policy adopted by government agencies and central banks, economic conditions revealed through economic reports, and other economic indicators including government fiscal and monetary policies.
• Government budget deficits or surpluses: The market usually reacts positively to tight budgets and surpluses; negatively to increased deficits.
• Balance of trade levels. The trade flow between countries illustrates the demand for goods and services, which in turn indicates demand for a country's currency to conduct trade. Surpluses and deficits in trade of goods and services reflect the competitiveness of a nation's economy. For example, trade deficits may have a negative impact on a nation's currency. This can work in reverse also - a large drop in the value of a currency can stimulate trade by making goods and services sold in the currency proportionataly cheaper.
• Typically, a currency will lose value if there is a high level of inflation in the country or if inflation levels are perceived to be rising. Inflation erodes purchasing power and therefore demand for that particular currency.
• Economic growth and health. Reports such as gross domestic product (GDP), employment levels, retail sales, capacity utilization, detail the levels of a country's economic growth and health. Generally, the more healthy and robust a country's economy, the better its currency will perform.

Political
• Political strife and upheaval tends to have a negative impact on a nation's economy and subsequent currency values. The coming to power of a political faction that is perceived to be fiscally responsible can have a positive effect. Also, events in a neighboring country can affect its currency.

Psychological
• Unsettling international events can lead to investors seeking a "safe port," for their money.There will be a greater demand, thus a higher price, for currencies perceived as stronger over their relatively weaker counterparts.
• Currency markets often move in visible long-term trends. Cycle analysis looks at longer-term price trends that may arise out of economic or political trends. Accumulated price movements in a currency pair such as GBP/USD can form apparent patterns that traders attempt to use to predict future movements. Many traders study price charts in order to identify these patterns

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