Real-time News Feeds.
If you’re looking for more immediate access to the movements in the currency market, don’t forget about that 80-inch flat-screen TV in your bathroom!
Financial TV networks exist 24 hours a day, seven days a week to provide you up-to-the-minute action on all of the world’s financial markets.
In the U.S., the top dogs are (in random order), Bloomberg TV, Fox Business, CNBC, MSNBC, and even CNN. You could even throw a little BBC in there.
Another option for real-time data comes from your forex trading platform.
Many forex brokers include live newsfeeds directly in their software to give you easy and immediate access to events and news of the currency market.
Check your broker for the availability of such features, not all brokers’ features are created equal.
Wouldn’t it be great if you could look at the current month and know exactly when the Fed is making an interest rate announcement, what rate is forecasted, what rate occurs, and what type of impact this change has on the currency market?
It’s all possible with an economic calendar.
The good ones let you look at different months and years, let you sort by currency, and let you assign your local time zone. 3:00 pm where you’re sitting isn’t necessarily 3:00 pm where we’re sitting, so make use of the time zone feature so that you’re ready for the next calendar event!
Yes, economic events and data reports take place more frequently than most people can keep up with.
This data has the potential to move markets in the short term and accelerate the movement of currency pairs you might be watching.
Lucky for you, most economic news that’s important to forex traders is scheduled several months in advance.
So which calendar do we recommend?
Forex Factory (www.ForexFactory.com).
If you don’t like Forex Factory (which we highly doubt), a simple Yahoogleing search will offer up a nice collection for you to examine.
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