News releases is a time to be focused and a time of utmost seriousness as most accounts are wiped off if you lose focus and not knowing how to go about it..
The following are the Forex News to watch out for and the Currencies it affects;
1. Non farm payroll – USD(every 1st Friday of each month)
2. Crude oil Inventories – CAD,USD
3. GROSS Domestic Products – GBP,USD,CAD
4. Employment Change – USD,AUD
5. Bank Governors,President ECB and Fed.Reserve Chairs’ Statements-GBP,JPY,CAD,EUR,AUD,NZD,USD
6. Consumer Price Index(C.P.I) – GBP,USD,NZD
7. BOE MPC Meeting Minutes – GBP
8. Core Retail Sales – CAD,USD
9. Producers Price Index(P.P.I) – GBP,USD
10.Retail Price Index(R.P.I) – GBP
11.Core C.P.I – USD
12.Trade Balance – GBP,CAD,USD,NZD,AUD
13.FOMC,Statements,Meeting Minutes,Projections,Releases – USD
14.Interest Rate Statements – EUR,JPY,GBP,USD
15.Housing Starts – USD
16.ADP Employment Change(Medium Impact) – USD
17.Current Account Balance – JPY,GBP
18.CBI Industrial Trends orders -GBP
19.SNB Monetary Policy Assesement – CHF
20.SNB Press Conference – CHF
21.LIBOR Rates – CHF
22.Official Bank Rates – GBP
23.Minimum Bid Rates- EUR
24.ECB conferences – EUR
25.Retail Sales – USD,GBP,AUD
26.Building Permits – USD
27.Mid-year Economic and Fiscal Outlooks – AUD
28.Unemployment Claims – USD
29.Core Durable Goods – USD
30.Consumer Confidence – USD
31.PMI (Purchasing managers’index)Manufacturing – GBP
32.Construction PMI – GBP
33.ISM(institute of Supply Mgt)Manufactory PMI – USD
34.Service P.M.I -GBP
35.RBA(Reserve Bank of Australia Governor Speaks -AUD
36.Average Earnings Index – GBP
37.Monetary Policy Statements – CAD,GBP,JPY,AUD,NZD
38.Unemployement Rates- GBP,USD,AUD,NZD,JPY
39.Core Durable Goods Orders – USD
40.Inflation Expectation – NZD
Traders should learn to “Pend” their trades prior to the time of the “News Release” and not to use “Instant Execution” when the news is already released especially high volatile News Releases.
This is very important as any attempt to place trades immediately the News is released could result in either of the following; Trade context busy,Requote,Do you want to Buy/Sell?
These system delays could cost you alot. It is therefore paramount to use “pending order” in placing trades,setting your stops and targets prior to the release of ‘News’. This is mostly the case in times of high volatile ‘News’ Such as Non-farm Payroll,F.O.M.C and various Economic blocks Chairmen/Bank Governors,President of ECB and Fed.Reserve Chairmen’s Speeches etc.
Please note that times of News releases/trading are not a time for fun or cracking jokes as are the cases with ‘Newbies’and in most trading rooms. It is a time to be focused and a time of utmost seriousness as most accounts are wiped off if you lose focus and not knowing how to go about it.
Hence, it is advised that Newbies should trade cautiously and be more focused during news releases or rather wait for normal market situations to return.
For more information on how to trade profitably CLICK HERE..