Forex News
Understanding Forex News Trading For Bigger Profits
Different traders have various techniques they use in order to make their trading decisions. One such technique is Forex news trading. This strategy uses the information that comes from government agency as a basis for their trading pairs and decisions. Once an anticipated announcement is made by a government agency, typically prices will immediately begin to fluctuate.
There is a particular way this system works. For instance, the U. S. Unemployment rate is announced on the first Friday of every month. There is usually a lot of anticipation surrounding this announcement. If the unemployment rate decreases, this shows signs of a recovering economy, which will places confidence in the U. S. Dollar. Once this announcement is made a trader waiting on it will act quickly as soon as the news is out.
Be Prepared! U.S Unemployment Claims Tomorrow At 12:30 GMT.
Courtesy of Forexyard
| We at ForexYard encourage our customers to get involved in the most intense market events. As such, we think you should know that the U.S. Unemployment Claims figures are expected tomorrow, May 13, at 12:30 (GMT), and you need to be prepared. Market events like this one tend to create either big changes to current trends or push them even further. Generally, the majors are the ones most affected by market events but Crude Oil, Gold prices, and even the price of Silver can change dramatically in the seconds after such a publication. For more information about the U.S. Unemployment Claims, please read below. |
March Non-Farm Payroll Report Tomorrow
The Non-Farm Payrolls Report (NFP) released by the Bureau of Labor Statistics of the US Department of Labor is one of the most important data that is released every first Friday of the month. In the days leading up to this report you’ll likely see some consolidation and quiet-times.
The report presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
Slow Trading Day Today
It appears today is a slower trading day, not many news releases scheduled. At least it’s not as busy as the last couple of days. Some traders actually “Never Trade Monday’s or Friday’s”. It’s like the old saying “Never buy a car that was made on a Monday or Friday”. Monday the market looks for direction and wakes up. Friday it’s ready to go in weekend mode and fizzles out.
Oil appears to be hovering in oversold territory suggesting a potential bullish movement.
Waiting for the CAD news release now.
Happy Pipping!
Best Forex Trading Times
The Forex market operates 24 hours, 5 days a week. This is one of the strong points of currency trading compared to stock trading. You’ll find more great opportunities, 5 days a week. Non Stop.
When is the best time to trade?
Just because you can trade 24 x 5 doesn’t mean you should be glued to your computer 5 days a week around the clock. However there are some key times you’ll want to check in on the Forex Market.
- The US Session starts at 1pm GMT (8am Eastern) and overlaps with the closing of the London Session.
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