What pitforex is, and how it works
A short account, for professional currency traders, of what the site covers and how a figure here comes to be dated and sourced.
Read an analysis pieceWhat pitforex is
What pitforex covers
pitforex reports on eight major currency pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, EUR/GBP and EUR/JPY. Each pair is covered to the same method, so moving from one to another means reading the same kind of figures in the same place every time.
How the figures are built
Exchange rates come from the European Central Bank's daily reference rates. Anything worked out from them, such as a move measured against a pair's typical day, is marked as pitforex's own calculation.
Central bank coverage is tied to the decisions themselves: the Federal Reserve, the Bank of England's Monetary Policy Committee, the Bank of Japan and the Swiss National Bank. Economic releases are sourced to the body that published them, among them the Office for National Statistics, the Bureau of Labor Statistics and Eurostat.
A move is never given as a single number. It is set against what a normal day looks like for that pair, so a shift in EUR/USD or USD/JPY can be read as routine or unusual without scrolling back through weeks of history first. Analysis follows a fixed order on every piece: the finding first, then the mechanism in plain terms, then the full account with its chart and timeline, then the sources.
Why the figures are out of date
The rates behind every figure are set once a day by their official source. By the time a number reaches a screen here, it is already behind the market, sometimes by a long way. It is published for context.
Who writes it
pitforex is written for professional traders at banks and trading firms, holding every figure to a dated source and a stated method, the kind of discipline those traders already expect from an official statistical bulletin.
Eight pairs, one method
EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, EUR/GBP and EUR/JPY are all covered to the same dated, sourced standard.
Always a step behind
Figures are set once a day by their official source, so what you read here is never the rate at this moment.
One structure, every time
Each analysis piece runs in the same order: the finding, the mechanism, the full account, then the sources.
Information without instruction
pitforex reports what moved a currency pair, by how much, and what is scheduled next. It does not tell you what to do about it.
- No trade ideas, and no signals suggesting a buy or a sell.
- No view on where a rate is heading, presented as fact.
- No dealing prices. Every rate shown is a reference rate, published for information.
A professional reading the site still needs a price from their own venue before acting on anything here. The same separation holds for the central bank decisions and data releases covered elsewhere: they are reported as events, with a date and a source, and what follows from them is left to the reader.