There are also some economic news that are described as less important in economic calendar but could indicate future economic state. Example of these would be Business Inventories figures. If manufacturers are increasing their inventory, you can take that as a sign that they expect business to pick up in the near future. One of the things that can help in predicting where economy is heading within next few months is housing sector, that is house price movements. However, when house prices start to change they will be of no major impacts on markets in next six month or even a year.
There are many other economic events that can move the markets. Some of them include surveys on business and consumer confidence, industrial production figures and producer's manufacturing index (PMI) as well as producer's purchasing index (PPI). What is important to note that not all economic events have the same impact, in the same country and at the same. While in USA, currently, labour market data is most important among economic data, in Eurozone the focus is on inflation figures. That is why traders must keep up-to-date with previous data and expectations and not only wait for incoming figures.
In the next Chapter we will deal with the central event in fundamentals - central banks and interest rate decision.