One of the great advantages of trading currencies is that the forex
market is open 24 hours a day (from 5pm EST on Sunday until 4pm EST
Friday). Economic data tends to be one of the most important catalysts
for short-term movements in any market, but this is particularly true in
the currency market, which responds not only to U.S. economic news, but
also to news from around the world. With at least eight major
currencies available for trading at most currency brokers and more than
17 derivatives
of them, there is always some piece of economic data slated for release
that traders can use to inform the positions they take. Generally, no
less than seven pieces of data are released daily from the eight major
currencies or countries that are most closely followed. So for those who
choose to trade news, there are plenty of opportunities. Here we look
at which economic news releases are released when, which are most
relevant to forex (FX) traders, and how traders can act on this
market-moving data.
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