Most brokers have a free news plug in with their deal station. Headline economic data moves the forex markets and currency traders can take advantage of that.The news is released at certain times on the economic calendar and is reported instantaneously by news outlets including Bloomberg,Reuters,Dow Jones,Trade The News and CNBC making it universally accessible.Some of these agencies charge traders a lot of money for instant news so traders can trade the spikes that occur sometimes when the figure is outside the expected range.Sometimes, the news will affect the markets for days.

We trade with technical analysis and fundamentals.We pinpoint entries and exits with technical analysis.Market sentiment is driven primarily by the economic and geopoplitical news of the day.The key players such as central banks,multinational companies,hedge funds and top tier investment banks formulate their trades by analyzing the most recent economic news and geopolitical developments and pronouncements from G-7 monetary authorities.The release of the economic figures drives the price of a currency pair towards an important Fibonacci level, Pivot level ,support level or resistance level.

It is important to look at an economic calendar to see if the market is waiting for the release of a major fundamental announcement.Price may go into consolidation before the release time or it may move a lot as traders take a position beforehand.If the released figure varies considerably from the expected figure, the price will move a considerable distance.Some data releases are lot more important than others.

You can open a trade when the market settles down soon after a news release or if you are really daring you can open a trade 10 minutes before a news release,but have a stop loss in place for protection.The market can move 100pips in 30 seconds occasionally.Trading the news is not always clear cut.Price can go in opposite direction to what seems logical.Also, figures from previous months can be revised.

Major reports released for USA include Non-Farm Payrolls,Trade Figures,Retail Sales,Durable Goods,Consumer PriceIndex,Treasury International Capital,Current Account and Advance GDP.