Macroeconomic analysis focuses on national economies (or in the case of the Eurozone at the euro area) and examines their health. This is done by interpreting the economic indicators for the following areas: growth (business climate, GDP), inflation (consumer price index, producer price index), employment (unemployment claims, jobless claims) and production (factory orders, building permits).
It also takes into account any geopolitical developments that could cause risk in the market (elections, natural disasters) as well as the monetary policies and actions of Central Banks, like changing interest rates (that can encourage or discourage investors), quantitative easing (that can spur the economy and inflation) and language used in press conferences and announcements. Understanding how these elements influence currency strength gives a forex trader an edge. TradingView has an economic calendar
that ties news events to the time scale in an intuitive way.