Factory Orders – The dollar level of new orders for both durable and nondurable goods. This report is more in depth than the durable goods report which is released earlier in the month. Federal Reserve (Fed) - The Central Bank for the United States.First In First Out (FIFO) - Open positions are closed according to the FIFO accounting rule. All positions opened within a particular currency pair are liquidated in the order in which they were originally opened.Flat/square - Dealer jargon used to describe a position that has been completely reversed, e.g. you bought $500,000 then sold $500,000, thereby creating a neutral (flat) position.Foreign Exchange - (Forex, FX) - the simultaneous buying of one currency and selling of another.Forward - The pre-specified exchange rate for a foreign exchange contract settling at some agreed future date, based upon the interest rate differential between the two currencies involved. Forward Points - The pips added to or subtracted from the current exchange rate to calculate a forward price.French Central Government Balance – The difference between the central government's monthly income and spending. Fundamental Analysis - Analysis of economic and political information with the objective of determining future movements in a financial market.Futures Contract - An obligation to exchange a good or instrument at a set price on a future date. The primary difference between a Future and a Forward is that Futures are typically traded over an exchange (Exchange- Traded Contacts - ETC), versus forwards, which are considered Over The Counter (OTC) contracts. An OTC is any contract NOT traded on an exchange.FX - Foreign Exchange.