The answer to this question depends on your trading method. The markets are indeed moved by fundamentals (balance of trade data, money supply, interest rates, economic and financial reports, etc.) but only through the prism of human psychology. It is not the fundamental data or information that is so important as much as it is the markets’ reactions to that information.

Many advocate trading on the fundamentals; however, a case can be made that trading on the fundamentals is extremely difficult due to the fact that the markets always immediately and continuously are digesting any and all fundamental data and to do this successfully, you need to be available on a real time basis at whatever hour of the day or night that the news is likely to impact the market. Then, you need to act on that news before or at least in the same instant that the rest of the world does or else the opportunity could be lost. While some do trade the fundamentals successfully,

I believe using good trading methods based on technical analysis is an easier, less demanding way to trade with far greater odds of success. This is because I believe, as do technical traders in general, that any and all fundamentals are already always reflected in the price of the market at any instant and so I would rather apply technical analysis to the markets and trade them on my terms, when I want to trade them and how I want to trade them, with as little time spent in the process as possible.