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Once you have everything set the way you want, click “Apply Filter” to begin showing only the events and currencies you selected. OPEC countries consist of 15 or so major crude oil-producing nationslike Saudi Arabia, Kuwait, Iran, etc. If you see the forecast of the NFP is higher compared to last month, it is bullish news for the U.S. So, for example, it will be the bullish impact on the USD/JPY https://www.themarketinginfo.com/forex-broker-dotbig-ltd and a bearish effect on the EUR/USD. Nevertheless, anytime you see a forecast of growing CPI, it would be bullish news for the currency. For example, if the forecast for CPI of UK is 2.5% for a quarter, and the CPI of Australia remains at 1.5%, then it will have a bullish effect on the GBP/AUD. In figure 2, you can see the GDP growth rate of the USA usually mains close to the UK’s.

forex factory news

The offers that appear in this table are from partnerships from which Investopedia receives compensation. Investopedia does not include all offers available in the marketplace. The most common way to trade forex on news is to look for a period of consolidation ahead of a big number and trade the Broker DotBig breakout on the back of the number. Basia Hellwig has 30+ years of experience as an independent magazine editor and online content producer. An expert in consumer credit and consumer rights, management strategy, and small business, she is a veteran editor of consumer and business publications.

How To Use The Forex Factory Calendar In 2020: The Ultimate Guide

The United Kingdom has the sixth-largest national economy and its monetary policy is watched by the Bank of England, whose Governor is Andrew Bailey. Its capital, London, is Forex news the second-largest financial center in the world, behind only New York. Of special interest are the Federal Reserve decisions, usually announced by Governor Jerome Powell.

  • This gives me a complete picture of what to expect over the coming days without cluttering the calendar with news that will have little impact on the markets.
  • Depicted as yellow/orange/red bars, the impact is a basic indicator of the potential move a data release might trigger on currencies.
  • Or you can also click dates in the past and it also takes you to a page where you can see what news was released on the certain date in the past.
  • Trading forex on margin carries a high level of risk and may not be suitable for all investors.
  • The Real-time Economic Calendar may also be subject to change without any previous notice.

Don’t forget, it is better to learn from one another, but if you are already profitable – don’t change your own rules and strategies to think someone else does it better. However, never commit to a trading strategy or service you may come across without testing it previously before you go on a live account. The Forex Factory Forum is one of the largest forex forums on the internet https://finviz.com/forex.ashx with over 500,000 active members a month communicating trading tips, strategies, and news. Every time to track your trades you can reflect on how accurate that flag pattern was, or whether or not it is a supply and demand trading zone. This forces your brain to wire to memory the solid, successful, patterns and results then chuck out the poor examples of losing trades.

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While understanding monetary policy is difficult, even for veteran economists, the way to interpret this news is rather easy. If you see a forecast that says the Federal Reserve will likely increase the overnight rate, it will likely have a bullish effect on the U.S. So, for example, if the Japanese Central Bank keeps its rate unchanged, it will be a piece of bullish news for the USD/JPY. However, the dollar’s upside momentum was so strong that the gains were quickly reversed, and an hour later, the EUR/USD had broken its previous low and actually hit a 1.5-year low against the dollar. Opportunities were plentiful for breakout traders but bullish momentum in the dollar was so strong that such a bad payrolls number failed to put a sustainable dent in the currency’s rally.

forex factory news

Hence, as a Forex trader, you should keep an eye on vital statistics about a country’s housing market when you are Forex trading that currency. You see, banks also borrow money from each other, but they do it on an overnight basis.

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