Best Forex News Sites to get News and Economic Releases
Forex news and economic releases are very important for a trader. If you want to evaluate the price action of a currency pair you should know the logic and reason behind the movement. Unless you know the exact reason behind the movement, you will not be able to make money in the long run.
Therefore it is very important to know the Forex trading releases and economic events to manage your trade or generate new trading ideas. Before proceeding further, we should see why you should know economic releases
Importance of Forex News & Economic Releases
Forex news in economic releases occasionally happens on a daily,, weekly, and, quarterly basis where most of the important news releases regarding the financial market.
If you want to trade on a currency pair related to the US dollar, you should know the economic events that are related to the US dollar. The price of a currency pair changes with the change in supply and demand. When the supply increases, the price fall and when the demand increases, the price moves up.
Among important news and economic releases, four (4) Major releases are interest rate, unemployment rate, inflation, and Gross Domestic Product (GDP). Fundamental traders take their trading decision with the combination of these economic releases. Therefore, if you don’t know when these releases are happening, you will not be able to predict the price movement based on this.
Even if you are a technical trader, you should know these economic releases as these events create massive movement in the price and it may make your prediction about the price questionable. Therefore, it never means the forex news in economic releases to include your trading strategy.
List of Best Forex News Sites
News sites and economic release sites are those that regularly post important news and economic events directly related to the forex market.
Here we will see the list of best forex news sites along with a short description so that it will be helpful for you to choose the reliable one:
ForexFactory is the broadly used Forex news site where most of the retail traders in the world are involved. This platform has a built-in forex news forum and an economic calendar where you can see details of the economic releases with the important updates.
In the economic calendar, events are distinguished into three categories- most important (red), medium important (orange), and less important (yellow).
Moreover, if you click on the economic releases, we will see a short description of the news, and you can easily compare the result with the previous update. As a trader, it is very important to evaluate the present result with the past as it is directly related to the currency price.
Bloomberg is the world’s most renowned news providing sites via all types of news, including the financial market and the forex market. Therefore, if you are looking for forex news that might directly relate to the price, you should focus on this website.
Moreover, Bloomberg often provides analysts’ opinions on a currency pair or over the economy, and if you read this, you will get better knowledge about the market.
Babypips is a Forex trading platform that provides educational resources for beginner traders. Therefore, if you want to learn Forex or you want to revise what you have learned at the initial level of your trading career, you should focus on this website.
Moreover, BabyPips include many trading strategies, trading signals, technical and fundamental analysis, and Forex forum. The forum of BabyPips is very effective as there are many traders actively involved in it. If you post any queries about currency pairs or if you want to share your knowledge with other people, you can easily do it with this platform.
Another Forex trading platform that is most like the BabyPips, but the exciting factor is that it mainly focused on analysis and educational services. There are many well known certified traders and analyst work for Fxstreet and provide detailed to market observation.
If you want to extend your trading knowledge by getting a mentorship of FXStreet premium members, you will get paid courses and webinars for free.
TheForexSecret is a Forex analysis and service provider made by a group of experts. If you read the website’s blog section, you will get extensive knowledge about Forex trading distinguished into three categories- beginner, intermediate, and advance.
Moreover, TheForexSecret has an exclusive service of Signals and one management that may attract you. If you are not in Forex trading or new in Forex trading, you can allow them to trade for you, and you will get a percentage of profit every month in a secure way.
Moreover, if you want to earn money from forex trading besides learning, you can focus on forex signal service from the TheForexSecret team.
In the above section, we have seen how to get the latest forex news and economic releases from different well-known websites.
However, there are no exact rules regarding how to choose the best forex news sites. If you are comfortable with any design or pattern, you can stick to this. Lastly, you should learn forex trading to get the maximum output from economic releases.