Markets & Macro: Forex, Rates and the Dollar
Learn how currencies, interest rates, inflation, bonds and the US dollar connect global markets, and build a simple weekly routine that uses macro for context and the chart for timing.
Self-study course Self-study course: written lessons, videos and downloadable materials for independent learning. There is no supervision, assessment, individual feedback or tutoring. Self-check quizzes are evaluated automatically in your browser — we do not see your results.
All 10 lessons free
Before you start
- Basic percentage calculations
- Ability to read a simple price chart
- No prior economics knowledge needed
What you will be able to do
- Calculate pips, pip value and the bid/ask spread for major currency pairs
- Explain the mandates of the ECB and the Federal Reserve and why rate expectations move currencies
- Convert nominal returns into real returns using inflation data
- Calculate the surprise in an economic release by comparing actual with consensus
- Explain why bond prices and yields move in opposite directions and how yields affect gold and growth stocks
- Build a weekly macro routine with scenarios and size a trade from planned risk
Lessons in this course
How the Global Markets Fit Together
See how stocks, bonds, currencies, commodities and crypto are connected and why a move in one market can spread to others.
Forex Basics: Currency Pairs, Pips and Spreads
Learn how currency pairs are quoted, what base and quote currencies are, and how to calculate pips, pip value and the spread.
Interest Rates and Central Banks: ECB and Fed
Understand what the European Central Bank and the Federal Reserve do, what a policy rate is, and why rate expectations move currencies.
Inflation: CPI, Core vs Headline, Real Returns
Learn how inflation is measured, the difference between headline and core inflation, and how to calculate a real return.
The US Dollar's Role in Global Markets
Understand why the dollar is the main reserve currency, what a dollar index measures, and how a stronger dollar tends to affect gold, Bitcoin and other assets.
Economic Data That Moves Markets
Learn which reports matter most, how to compare actual results with the consensus forecast, and why the surprise drives the reaction.
Bonds and Yields Simply Explained
Understand why bond prices and yields move in opposite directions, what the yield curve shows, and why yields matter for gold and growth stocks.
Risk-On vs Risk-Off: Sentiment and Safe Havens
Learn how changes in market mood move money between risky and defensive assets, what safe havens are, and why correlations change.
Building a Simple Weekly Macro Routine
Create a repeatable weekly routine with an economic calendar, key levels and if-then scenarios, without trying to predict outcomes.
Combining Macro and Technical Analysis
Use macro analysis for context and direction bias, and the chart for timing, entries, stops and position size, in one complete planning example.
Stocks & Fundamental Analysis
For a practical review, continue with Trading Foundations and revisit its trading plan lesson to add your weekly macro routine to your written plan.
View course outline