Hi there, i’m kinda new to forex and I see that many tutorials recommend us to lookout for news release but never stated what or where to see these kinds of news release.
Anyone have any idea on this? I’m mainly trading on EUR/USD.
Thanks in advance.
Put in search engine - “where to get forex news information”
Ignore the first few ad links and what do you see? Links to news info from forexnews, dailyfx, forexfactory,etc.
As a question back to the OP - You were able to somehow find tutorials about forex, but couldn’t find information about news and forex? Seriously?
Basic introduction in fundamental trading is economical calendar of your broker. There are news filtered by impact, country and time (coming soonest, etc.). It should look like this - https://www.hotforex.com/en/trading-tools/economic-calendar.html
Look at the calender and news feed your broker should provide, also the Babypips calender.
Dont sign up to any paid feeds unless you have a shedload of money to invest
Hi Wke102, juz go to this website mention below & it’ll come out what time according to your time zone, from which country & type of importance news from low to high with explanation.
Good luck.
Go to goggles & key dailyfx follow by & calendar
IMO- you really only need to be aware of major pieces of event risk…i.e. “HIGH” importance releases on any standard calendar, and, Central Bankers’ speeches.
Don’t put too much effort into understanding the release, or trying to trade in the direction of it.
The price action of the instrument you are trading will reveal the market participants’ true intentions.
Think about it- I can tell you nothing but good news about a widget that I’m selling- it’s reliable, efficient, always gets the job done, will not break easily- and try to get you to pay a higher price for it. Meanwhile, if you look @ what others have been paying, you’d see that the market is not willing to accept high prices- aka the trend is down and price is trading @ lows.
The same goes for economic releases- a strong NFP print doesn’t necessarily equate to a strong USD.
There are trillions of dollars in the markets with competing ideas about where the USD is heading, and along what time frame.
Jake
yup, it might be hard to filter at first, but you will get the hang of it, and avoid any paid stuff especially if you can get it here for free
[QUOTE=“jingoy;672750”]yup, it might be hard to filter at first, but you will get the hang of it, and avoid any paid stuff especially if you can get it here for free[/QUOTE] I use fxstreet for my news and my broker also feeds news straight into the mt4 platform. Fx street also has an app that can notify of the release I havnt use that feature yet but I will be testing it soon.
When it comes to news releases it often depends on how far away the reported figure is away from consensus. Run an online search for economic news calendar and you should find plenty of websites which offer a decent basic one at least. You said you trade mainly EURUSD then you would want to pay attention to any report coming out of the Eurozone and the US.
myfxbook.com. Get the app. Track your account performance and keep up on news. Or, trade a technical system and forget about news altogether (what I do).
Calendar news are good things for following the prices but I think only the big news from FED, EU, US economies can affect the price significantly. Other news can only affect slightly or even nothing.
Couldn’t be more wrong. Are you saying China/Japan news has no effect? Icelandic volcanic cloud? Its a joined-up world, you can’t just look at 1 or even 2 countries in isolation.
Look at babypips calender for influential news events but also keep an eye out for unexpected non-economic news that could influence sentiment
To answer the OP’s question, beware of FOMC and NFP.