Forex fundamental analytics learning 6 - Forex news media and market data

If you search for "foreign exchange, news" on Baidu, you will find more than 7 million relevant search results, and if you search for "foreign exchange, data", this result is also more than 7 million.

Yes, that's all. It's no wonder you need to come here to learn the relevant courses. In the field of Forex, there is indeed so much information to deal with, and so much to bother new traders. Of course, among all this information, there is also a lot of outdated information that we have seen today.

However, to become a successful trader, we need to adhere to the belief that "information is king".

Prices can change due to the release of all the following information: economic reports, speeches by central bankers, changes in interest rates, and so on.

Your goal is to succeed in trading, and it will be easier for you when you understand why prices move in correlation. Successful traders are not born, they need to be educated or constantly self-taught.

Successful traders have no mysterious power over them, nor can they see the future.

What they can do is to analyze the current key and important data from the numerous foreign exchange news and data, and then make the right trading decisions.

Where can I obtain market information?

You can obtain market information in a variety of ways.

Among the many sources of information, the Internet is undoubtedly the most convenient source. Through the Internet, no matter where we are in the world, we can learn about the latest foreign exchange information simultaneously. But don't ignore paper media and traditional broadcast media.

Individual foreign exchange traders will be fascinated by the plethora of foreign exchange websites, foreign exchange investment services, and TV shows available, the vast majority of which are free, although some are available for a fee.

Internet

Our top recommended Chinese foreign exchange website is.

As a professional and authoritative foreign exchange gold news and foreign exchange trading learning website, the website has opened foreign exchange news, foreign exchange prices, central bank dynamics, currency dynamics, gold information, foreign exchange analysis, industry trends, foreign exchange academy, foreign exchange EA download, financial calendar, and other columns to provide the latest information for global Chinese foreign exchange investorsforeign exchange marketLearning and sharing information and foreign exchange trading experience and foreign exchange trading skills.

Traditional financial media

Financial media can be massively calculated, but we built you to remember some large financial media.

These large financial media will provide global market financial information and in-depth reports 24/7. You need to pay close attention to the major events reported by these media, such as the central bank's interest rate statement, the release and analysis of major economic reports, etc. These large financial media will also interview economists, analysts and other authoritative figures of many large Financial Institution Groups on market hotspots and major issues, and interpret these hotspots and major issues.

The major financial media organizations include:

Reuters

Wall Street Journal

Bloomberg

real-time news feed

If you're seeking more insight into currency market movements, don't forget the TV set you're visiting in your living room.

Financial TV programs will also provide you with the latest market trends in global financial marekts 24 hours a day, 7 days a week.

In the United States, the most cutting-edge financial TV shows are Bloomberg TV, CNBC, MSNBC, and even CNN. You may also watch some BBC TV shows.

Another option for us to obtain real-time data is your trading platform.

Most traders will embed timely news data directly into your trading platform software, allowing you to easily access the latest events and news on the currency market. Since not all traders offer this service, it is best to check this information with your broker beforehand.

economic calendar

Wouldn't it be great if you knew exactly when the Federal Reserve announced its interest rate decision this month, the market's predicted value for interest rates, the actual value of the final announcement, and the impact of the outcome on the money market? The financial calendar makes all this possible.

A good economic calendar allows you to look up economic data for different months and even different years.

Yes, economic events and data reports are released very frequently, and it is really difficult for the average person to care about all the data and time releases in a timely manner without a reminder of the financial calendar. And data and events accelerate the volatility of currency pairs in the short term.

Fortunately, the vast majority of economic news that is important to foreign exchange traders is announced months in advance.

Some suggestions for market information

Remember that the reports you read are time-sensitive. The vast majority of the information is in the past tense, and the market has fully responded to the published reports.

If the market has responded accordingly, you should probably adjust your current trading strategy. Because, "yesterday's news" is obviously outdated for foreign exchange trading.

You must also be able to determine whether the news you are analyzing is fact, rumor, fiction, or the opinion of others.

Rumors of economic data do exist in the market, and they can spread minutes to hours before the data is released. Rumors can prompt a reaction from some short-term traders, and the actions of these short-term traders can also have a lasting impact on market sentiment.

Large institutional traders are also often influenced by rumours, and in decentralized markets, such as the spot foreign exchange market, it is difficult to know the authenticity of news. Verifying the authenticity of news is never an easy task.

As a trader, your job is to develop your own trading plan and react quickly to such news or rumours before they are proven to be true or false. Having a comprehensive risk management plan may save you from unnecessary losses.

Our final advice is to know the original source of the news.

The more you pay attention to foreign exchange news and media, the richer your expertise will be.

The more you know about the sources of news releases, the more likely you are to identify the accuracy of the news. Those who report the news have their own schedules, and they have their own strengths and weaknesses.