Trade news forex market
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So these would be things like GDP growth rates below expectations, unemployment rates above forecasts, or deals renegotiation. All these pieces of information indicate weak economic activities, which usually produce bearish price movement in the forex market. High impact data have a more significant effect on forex pair price movement because it is easier to predict using technical analysis tools. That way, you can develop a list of news and events coming up in the next few days which would affect prices so you can prepare accordingly: First, most news announcements are released by national governments, central banks, and international organizations.
Why not just look at the economic calendar? The economic calendar can not tell you the future outcome and can not describe the reason for market behavior after the news event. It can be hard to predict data coming out of the European Union, for instance, because it involves 27 different countries, which makes it harder to cover all the releases. On top of that European Central Bank has this habit of releasing important news after the market closes, which offers some traders an opportunity of waiting for the US session to end before even checking if there are any data scheduled.
How do national governments and central banks significant release data? More than political events are listed on Economic Calendar , including positive and negative announcements that affect currency prices in the forex market. Is it better than expected? Is it worse than expected? The answer to these questions has an effect on market and price movement after the release of the data.
The reaction of the market to actual news releases is unpredictable. However, the biggest market movement occurs when there is a surprise. That is, the actual release is different from the forecast. The market can experience higher volatility with speculative traders hoping to make a quick profit or exit.
This short-term rapid volatility can lead to a wider spread. High volatility can also lead to price spikes and slippage. Slippage occurs when your order is executed at an unexpected price due to a rapid change in price between the time of order and time of execution by your brokers. Aside from that, a wider spread means the cost of trading will be higher. As such, traders may hit margin calls very early due to inadequate margin to accommodate the higher ask price.
Which forex news releases to trade? When trading forex news, you should know that not all economic news has an equal impact on the forex market. Some financial news may not affect market volatility at all. Economic news from the United States is one of the important news that moves the forex market because the US Dollar is a major currency. The table below highlights major global news releases that can cause a significant move in the forex market.
Economic Data Release.
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