In fact, all Forex trading strategies are a byproduct of news in one way or another. Should you close the trade and book a small profit to be safe? If you close it https://dotbig-com.medium.com/what-assets-are-worth-investing-in-during-the-third-wave-of-the-pandemic-56bfea8d55a now you risk missing out on potential profits. Knowing how to set up the Forex Factory calendar is one thing, knowing how to use it properly is quite another.
Also note that you can quickly select predetermined time frames in the bottom half of the navigation pane. Here’s how you can use a Forex news calendar to start making more informed trading decisions. Needs to review the security of your connection before proceeding. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. Guidelines describe the dos and don’ts for conversations within the community and thus set the tone.
Ecb Interest Rate Decision
It measures the overall health of an economy and the higher the GDP growth rate, the stronger the currency would be. One of the key responsibilities of the central banks around the world is to maintain a low unemployment rate. All of the major monetary policy decisions taken by any central bank is to keep it near the Non-Accelerating Inflation Rate of Unemploymentor NAIRU. Another week of huge volatility for Forex news financial markets was met with a certain resignation on Friday. Early indications for the week were positive with a massive two-day rally to set things off as the Fed pivot talk once again took centre stage. Its mission is to keep traders connected to the markets, and to each other. However, I bet that 80% of you reading this right now don’t have a trading journal, or you don’t properly record your trades.
Nevertheless, anytime you see a forecast of growing CPI, it would be bullish news for the currency. For example, if the forecast for dotbig review CPI of UK is 2.5% for a quarter, and the CPI of Australia remains at 1.5%, then it will have a bullish effect on the GBP/AUD.
#9: Housing Data
It’s converted into a visual chart showing you how many % of traders are long or short . In fact, they dotbig reviews offer useful trading tools that will improve your trading experience, and it doesn’t cost you a dime.
- We have answered this question and have tested Forex Factory for you.
- Their blog describe probably the best winning strategy called “No Brainer trades”.
- A Bloomberg Terminal would almost certainly deliver the news quicker, but it costs thousands of dollars per month, something most retail traders cannot afford.
- For example, if the forecast for CPI of UK is 2.5% for a quarter, and the CPI of Australia remains at 1.5%, then it will have a bullish effect on the GBP/AUD.
- As such I would like to summarize some of the more important points to keep in mind when using the news calendar.
- This will synchronize the time for each news event with your local time.
The first thing to understand is that you only want to focus on the market-moving events. The image below illustrates how you can expand the details of a given news event. Once you have everything set the way you want, click “Apply Filter” to begin showing only the events and currencies you selected.