A big news release has the power to enhance a normally slow trading period. When a major announcement is made regarding economic data – especially when it goes against the predicted forecast - currency can lose or gain value within a matter of seconds.
However, just because dozens of economic releases happen each weekday in all time zones and seemingly affect all currencies, it does not mean a trader needs to be aware of all of them. It is important to prioritize these releases so that the important ones are watched and the lesser ones are simply monitored for surprises.
Some of the bigger news releases to watch for include:
- interest rate decisions
- CPI data
- trade deficit
- consumer consumption
- central bank meetings
- consumer confidence
- GDP data
- unemployment rates
- retail trade
Till then, don’t forget to open your trading calendar before you open up a position. It might help!
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