Best FOREX News and Calendars
Most broker-dealers offer news and announcement services and it is enough for most traders. My take on the news is this: do not try to trade the news, but watch how the market reacts to it for trend indications. News Trading is devoted to this topic. Tip: The initial price impact of news is often dramatic, but it may take several hours to be fully absorbed. It is not uncommon for prices to react sharply in one direction initially, and then gradually trend in the opposite direction for much of the trading session.
Your daily trade plan should always note relevant news and announcements for the pairs you trade. If you must trade the news, use one of the news trading tools available. Perhaps the best is Felix Homogratus's www.secretnewsweapon.com
The author's favorite FOREX calendar is:
Provides a full week's worth of pending news events for all major currencies. The anticipated importance of the release is noted by a red, yellow, or green marker. The calendar notes the previous number (if it is a statistical release), the anticipated number, and the actual number.
A well-organized and useful news website. Frequently updated. Jump over to the forums before a news release to learn traders' takes on it.
You can sign up for their e-mail newsletter of major economic events and indicators for the week.
An awesome subscription service for serious traders. They offer a few basic services at http://basic.econoday.com
. If you trade on fundamentals, here is the depth of information you require.
Offers a News Squawk (audio) service through your computer speakers. Close your eyes, and it's 1970 againâ
By Michael Duane Archer