So many at times, there is always this argument whether news is actually necessary in trading forex or not but in my own opinion, we can take advantage on some news report that actually move the market. These news reports include:
Non Farm Payroll (NFP). this is a great market mover and its a United state news data. it is released every first Friday of the month by 2:30pm (GMT +1). if you watch yesterday market on EUR/USD, after the release, you will understand what am saying.
Consumer Price Index ( CPI ). this is another great market mover. that of the US is normally released within the 20th day of each month by 2:30pm
Report on Employment. this is another report that has a lot of impact on the market. that of US is released every first Friday of the month by 2:30pm (GMT +1)
Consumer Confidence Index ( CCI) : this report for US comes out every last Tuesday of the month by 4:00pm (GMT +1). it is a report that has great impact on the market.
Retail Sales: this data for united state is always on around the 12th of each month and released by 2:30pm (gmt +1)
Trade Balance: this fr Us is released on the second week of each month by 2:30pm (GMT +1)
Treasury International Capital (TIC): this is normally released withing the 12th business day of the month around 3:00pm (GMT +1)
please, there are more to this but this are the ones i have capitalized on from my work on the market and i recorded this dates from December last year.
even if you do not want to capitalize on this reports, Do not place an instant execution trade before their released because if the market goes against you from their release, the outcome might be too bad.
i also obtain the result of the news release from sites with good economy calendar like instaforex, fxstreet, ****** etc
Please the time i used is my own local time in GMT + 1. you can convert to your own local time.
I’d like to add one to your list. I’ve noticed that when big names make announcements; there is often a drastic upheaval. Like if Bernanke is planning on giving a press release sort of events.
keep in mind that news is the fundamental analysis of the trading and it affects to the market also. so don’t ignore it. It is use to analyzing economic, social and political forces that affect the supply and demand that determines prices.
keep in mind, trading the news isn’t for everybody. it can cause quite a bit of volatility, which can be very profitable. but it can also go very badly. i know i’ve been burned more than a handful times by the release of data. i guess it’s all a matter of gauging your appetite for risk. “high risk, high reward,” as they say.
Take BoE Gov Carneys speech yesterday at 11.45 GMT - GBP/USD on a 15M chart, it started to decline from 1.5544, moving down around 100 pips to 1.5450, as soon the Carney started to speak there was a spike all the way back up to 1.5538. I personally anticipated this move seeing a buy signal at 1.5462, making a fair few pips… but it could have easily gone against me!
The upcoming events in Syria will be interesting to follow on the charts as oil & gold are steadily moving up!
Every financial market moves based on supply and demand. If more traders want to buy a certain stock, commodity or currency than there are those willing to sell, then the market moves up in price until those buyers are able to buy. On the flip side, if more traders want to sell a stock, commodity or currency than there are those willing to buy, then the market moves down until the sellers are able to sell.
That FOMC statement was pretty big news and, more than the initial reaction of dollar pairs yesterday, I think it could continue to move the market in the longer-term.
