I am trying to understand how to use macroeconomic data in my trading. I understand that using such data could be used to gauge an overall view of the market and how it's doing as a whole. I have been trying to make sense of the information contained to infer weights for different equities/sectors but find myself stuck.
My end goal is to be able to incorporate the information in macroeconomic and other market indicators into my trading strategies(Long/Short Equity) - possibly weighting stocks differently based on this data or some sort of sector rotation strategy.
Could you please suggest a typical usage example of macro data in trading and/or recommend some good reading material(books/research papers/etc) so that I may able to make good use of macro data in trading?