INVESTORS FOREX One of the great advantages of trading currencies is that the forex market is open 24 hours a day (from 5pm EST on Sunday until 4pm EST Friday). Economic data tends to be one of the most important catalysts for short-term movements in any market, but this is particularly true in the currency market, which responds not only to U.S. economic news, but also to news from around the world. With at least eight major currencies available for trading at most currency brokers and more than 17 derivatives of them, there is always some piece of economic data slated for release that traders can use to inform the positions they take. Generally, no less than seven pieces of data are released daily from the eight major currencies or countries that are most closely followed. So for those who choose to trade news, there are plenty of opportunities. Here we look at which economic news releases are released when, which are most relevant to forex (FX) traders, and how traders can act on this market-moving data.
Tutorial: Top 10 Forex Trading Rules
Which Currencies Should Be Your Focus?
The following are the eight major currencies:
1. U.S. dollar (USD)
2. Euro (EUR)
3. British pound (GBP)
4. Japanese yen (JPY)
5. Swiss franc (CHF)
6. Canadian dollar (CAD)
7. Australian dollar (AUD)
8. New Zealand dollar (NZD)
This is just a sample of some of the more liquid derivatives based on the currencies above:
As you can see from these lists, the currencies that we can easily trade span the entire globe. This means that you can handpick the currencies and economic releases to which you pay particular attention. But, as a general rule, since the U.S. dollar is on the “other side” of 90% of all currency trades, U.S. economic releases tend to have the most pronounced impact on the market.
Trading news is harder than it may sound. Not only is the reported consensus figure important, but so are the whisper number and the revisions. Also, some releases are more important than others; this can be measured in terms of both the significance of the country releasing the data and the importance of the release in relation to the other pieces of data being released at the same time.
Japanese Yen| Data | Chart | Calendar | Forecast | News BUZ INVEESTORS USDJPY Midday Outlook The USDJPY increased 0.2000 or 0.18% to 111.6200 on Wednesday June 21 from 111.4200 in the previous trading session. Historically, the Japanese Yen reached an all time high of 306.84 in December of 1975 and a record low of
Euro Dollar Exchange Rate – 1957-2017 | Data | Chart | Calendar BUZ INVESTORS EURUSD Midday Outlook The EURUSD increased 0.0007 or 0.06% to 1.1141 on Wednesday June 21 from 1.1134 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973
Swiss Franc | Data | Chart | Calendar | Forecast | News BUZ INVESTORS USDCHF Midday Outlook The USDCHF decreased 0.0005 or 0.05% to 0.9746 on Wednesday June 21 from 0.9750 in the previous trading session. Historically, the Swiss Franc reached an all time high of 3.88 in April of 1972 and a record low
EURO STOXX 50 Stock Market Index | Data | Chart | Calendar BUZ INVESTORS STOXX 50 Midday Outlook Euro Stoxx 50 decreased 5 points or 0.15% to 3554 on Wednesday June 21 from 3561 in the previous trading session. Historically, the EURO STOXX 50 Stock Market Index reached an all time high of 4557.57 in July
Canadian Dollar | Data | Chart | Calendar | Forecast | News BUZ INVESTORS USDCAD Midday Outlook The USDCAD increased 0.0038 or 0.29% to 1.3302 on Wednesday June 21 from 1.3264 in the previous trading session. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record