Fundamental analysis in foreign exchange involves studying numerous events that occur in areas of economics, finance, or politics, as well as economic fundamental data such as interest rates, inflation rates, trade balances, the growth in gross domestic product, foreign investment, and a host of other data that provides the most significant information to FX traders.

Long run fundamentals are used to determine the equilibrium value of the currency. In the long run, a currency’s value should gravitate towards this equilibrium value, so determining this value provides information on the probable path of exchange rates going forward. But because currency values can deviate from equilibrium for significant time periods, market participants also study short-term indicators as well. Also, in looking at each factor in isolation, it is wise to keep the words “all things equal” in the back of one’s mind.

Fundamental factors can and do act in opposition to each other, so the influence of any one factor may not result in the expected effect when considered with other factors in the FX market.
 

According to Briefing.com, these markets are the seven most influential on CME Group markets of the 30+ leading economic indicators published on a regular basis, in descending order of importance:

Nonfarm payrolls (NFP)
Institute for Supply Mgt (ISM) index
Retail sales
Consumer Price index (CPI)
Chicago Purchasing Managers index (PMI)
Durable orders
Gross Domestic Product (GDP)