You are only starting to work in the foreign exchange business, or have the expertise, but for all the foreign exchange news that is happening in the industry, it is very important that you always take the lead. Keeping changes around the world in the industry can sometimes be addictive. Moreover, in a globalized world, it seems that something is happening all the time.
Here, we list some of the latest news happening inside and around the Forex industry, which will also affect your business in some ways. Keep in mind that Forex currencies are always paired, so you will need to get relevant news about the comparison of two different currencies or commodities. Some examples of relevant news that may have an impact on various currencies around the world are:
– A recent report said that on the same day that the pound rose more than 200 points, retail traders have set a net short position.
– Forex traders watched the downturn in the US housing market very carefully, thus controlling the market for mortgage futures.
– When the Fed cut interest rates recently, a foreign exchange news agency reported that people’s expectations of the dollar “fall down like stones”.
– Concerns about the US recession may push the dollar higher and make it fall to a lower level than it is now. [In foreign exchange trading, as long as the trader trades around the glove for a higher, more valuable currency, using the dollar's decline, the dollar's decline will not be considered unfavorable.
The false impression of most people is that money and financial news are the only things of interest in all foreign exchange transactions, but political news is very important because they can give you hints about the political movements of different countries and the direction of their country. . You need to be sure to follow the global trends.
Monetary and financial news is not the only news of interest to foreign exchange investors and traders. Forex traders are also interested in political news that may affect a country's currency.
– Major events such as the assassination of political leaders may affect the currency futures of the country where the incident occurred and create a chain reaction in the surrounding area; for example, Benazir Bhutto was assassinated in Pakistan.
– Natural disasters such as earthquakes, hurricanes or typhoons consume a lot of resources in a country; therefore, foreign exchange traders watch the news of such disasters.
– Political events, such as the US presidential election cycle, have a major impact on currency valuations; therefore, foreign exchange news contains up-to-date news about presidential candidates, primary elections, and general elections.
Forex news services add value to their news reports by analyzing current events and predicting how they will affect the exchange rates of various currencies around the world.
Some of the popular resources for foreign exchange research and analysis include: Daily FX, Rabobank Technical FX Daily, Scotia FX, TRL, Mizuho Corporate Bank, CIBC World Market, BHF Bank and Mellon Forex Trading.