Special trading NEWS

News on economic data is one of the prime factors on which Forex rates change and though this is repeated, it is only done so to make you understand how vital it is.

You can take advantage of US news and also world economic news and help yourself to profit from it.

There are about 10-15 very important currency pairs and this means you can tune into the news of those 7-8 participating countries and be ready to act upon it. When you learn Forex using software you must concentrate only on the top pairs.

So which are the major currencies? The following eight currencies are the most traded ones worldwide:

• U.S. dollar (USD)
• Euro (EUR)
• British pound (GBP)
• Japanese yen (JPY)
• Swiss franc (CHF)
• Canadian dollar (CAD)
• Australian dollar (AUD)
• New Zealand dollar (NZD)

The most common pairs that can be formed from the above are EUR/USD, USD/JPY, GBP/USD etc…

Since the US dollar is the most important currency and is present in most of the pairs as you can see from the top 3 above, it is imperative that you are tuned into the economic news coming out of the USA.

The timings of most news releases in the US and Europe are about 1-2 pm GMT So keep a tab on Interest rate decisions, Inflation, Retail sales, Industrial production, Unemployment, Trade balance, Business sentiment surveys, Manufacturing sector surveys, Consumer confidence surveys etc….

So we hope with all of this information we have provided on our website you will be able to begin your Forex trading and go on to be one of the successful people earning money. To recap, study a few things, then practice it, then take it live and trade, and if the strategy is successful then go on and refine your study through further research. Keep your eyes and ears open. All the best trading and hope you have a great career in Forex making lots of money.