Access Federal Reserve Economic Data (FRED®) on thinkorswim® desktop

TL;DR

Learn how to use economic data on thinkorswim® for analysis and trading.

Transcript

This demo explores how to use economic data on thinkorswim®. Go to the Analyze tab, then select Economic Data. This page gives you access to Federal Reserve Economic Data—called FRED® for short. Here, you can pull up economic reports and trends, then use them in your analysis and trading. For example, suppose you want to compare the price of gasoli... Read More

Key Insights

• 👻 The thinkorswim® platform allows users to access and analyze economic data through the Federal Reserve Economic Data (FRED®) service.
• 👤 Users can compare the price of gasoline or other commodities with the performance of related stocks or ETFs using the Consumer Price Indexes.
• 💹 Economic data can be applied as a study on stock or ETF charts, helping traders analyze the relationship between economic indicators and market movements.
• 🅰️ The ability to compare different types of economic data on the platform provides valuable insights into various sectors and industries.
• 🕴️ The thinkorswim® platform offers customization options for chart visuals, time frames, and aggregation periods to suit individual analysis preferences.
• 📈 By analyzing economic data alongside stock or ETF charts, users can gain a deeper understanding of the factors influencing market trends.
• 👻 The access to weekly intervals in economic data charts allows for more precise analysis and comparison.

Questions & Answers

Q: How can I access economic data on thinkorswim®?

To access economic data on thinkorswim®, go to the Analyze tab and select Economic Data. This provides access to FRED® for economic reports and trends.

Q: How can I compare the price of gasoline with the performance of an oil stock?

To compare the price of gasoline with the performance of an oil stock, go to the Prices section in Economic Data, select Consumer Price Indexes, then Transportation and Gasoline. You can apply this chart as a study on different stocks or ETFs.

Q: How do I apply economic data as a study on stock or ETF charts?

To apply economic data as a study on stock or ETF charts, copy the name of the chart from Economic Data, go to the Charts tab, type the symbol of the stock or ETF, adjust the time frame to match the copied chart, and change the Aggregation period to the same interval.

Q: Can I compare different types of economic data on thinkorswim®?

Yes, you can compare different types of economic data on thinkorswim®. Simply select the desired data set from Economic Data, copy the symbol of the chart, go to the Charts tab, adjust the time frame, and replace the previous study with the new one.

Summary & Key Takeaways

• The thinkorswim® platform provides access to Federal Reserve Economic Data (FRED®) for economic reports and trends.

• Users can compare the price of gasoline against the performance of an oil stock using the Consumer Price Indexes.

• Economic data can be applied as a study on stock or ETF charts to analyze the relationship between stock prices and consumer prices.