Rates, expectations and the data that changes them.
Nearly every durable currency move traces back to one thing: a change in what the market expects a central bank to do. This course builds that chain from the ground up — from the interest rate differential, through the data that shifts expectations, to the releases you need to plan around.
intermediate · 2 lessons · 35m
What you'll cover
Interest Rates and Currency ValueThe single most powerful driver, and why it works through expectations.If you learn one fundamental concept, make it this one. Interest rate differentials explain more currency movement over months and years than every chart pattern combined.
Inflation, CPI and the Rate PathWhy one monthly number moves currencies more than any other release.Central banks are mandated to control inflation. That single fact makes the inflation print the most consequential scheduled number in the currency market — and this lesson…
Who this course is for
What Moves a Currency is a intermediate course in the Fundamental Analysis track of the FX Terminal Academy. It assumes you already know what a currency pair is and how an order is placed. There are 2 lessons, about 35m of reading in total.
Every lesson is free to read, and no account is needed to read one. Signing in only records which lessons you have finished, keeps your place across devices and issues the completion certificate at the end.
How to work through it
Read the lessons in the order they are listed: each one builds on the vocabulary and the ideas of the one before it. Each lesson ends with a short quiz that checks you took the point rather than the wording, and links straight into the FX Terminal screen that puts it to work — so the idea is tested against live market data instead of staying on the page.
You can stop between lessons and come back; nothing here expires, and the course quiz at the end covers the whole set rather than the last thing you read.
Common questions
Is What Moves a Currency free?
Yes. Every lesson is free to read in full. There is no paywall, no trial and no card required, and the live FX Terminal screens each lesson links to are free as well.
Do I need any trading experience to start?
Some. It takes for granted that you know what a currency pair is, what a pip is and how an order reaches the market — the beginner courses in the Academy cover all three.
How long does the course take?
2 lessons, roughly 35m of reading. It is self-paced — there is no schedule and no expiry, so stopping between lessons costs you nothing.
Do I need an account?
Not to read. An account is free and only exists to remember which lessons you have finished, carry that across devices, and issue the certificate when you complete the course.
Is there a quiz or a certificate?
Each lesson ends with a short quiz, and the course has its own assessment covering the whole set. Completing it while signed in issues a certificate you can share.
Will this course tell me what to trade?
No. The Academy teaches how the market works and how to read the data; it does not issue signals or recommendations. Nothing on FX Terminal is investment advice.