I have a fundamental dataset of Forex news from 2014 to 2023 in the GMT-04:00 Eastern Time (US and Canada) time zone.
Now, I want to analyze the impact of each news event on the price of gold (XAUUSD). Therefore, I plan to download historical gold price data from -forexsb website- , but the time zone I found in the settings there is GMT-05:00 Eastern Time (US and Canada).
Will this cause a time difference between my fundamental dataset and the historical gold price data, potentially disrupting my work? Are the time zones between these two datasets different? Please help me. These time zones are confusing me.
It should. But nevertheless shouldnt be something that much of a concern as there’s just one hour difference. If your news is at -5 and your chart at -4, then every news outcome will be an hour late on your chart which i think should be less to worry about.
Don’t forget about the change overs from Eastern Standard Time to Daylight Savings Time!
So your data sets may exactly match depending on which months you are looking at. Or they could be one hour off, on paper, in the summer months. Explore the time zone time definitions for both data sets more carefully, I would guess.