Forex News

[zek132]

I wonder where do the news get initially released. And, i'm sure some people, for example those, working on the numbers know them before the public does. Does anyone know how it all works? Coz if someone knows the news before the release they could make millions, and i'm sure there are some ppl that do as at times numbers appear on some websites before the news... hmmm...

[Hayek]

Greenspan, Snow, Zhao, Evans...

[Gamma_Jammer]

There was a time when one of the releases was famously leaked onto the web, but in general I genuinely don't think this goes on.

And of course the people working on the numbers know them before the public. They're....working on them. They're hardly likely to shut their eyes while their spreadsheets re-calculate, then somehow mail the results to bloomberg etc, all without actually opening their eyes ;-)

[Goldfinch]

If you use FXCM, they seem to have a good news link - just make sure you check the calendar of news releases, and so you know whats on the way.

[FXSoros]

You are right...But there is no broker who will help you avoid it...People "who know" already know tha data before it shows on any website. But I do not believe they make millions out of it...The biggest bugs are made by guys who have money to move the market...they wash away STOP orders of small traders and make midterm trends.

Best

[amarnath]

Hi FXsoros,

You mean one can manipulate this Trillion $ beast. Any proof ?

[TRADERguy]

Originally posted by amarnath
Hi FXsoros,

You mean one can manipulate this Trillion $ beast. Any proof ?

Black Wednesday

http://en.wikipedia.org/wiki/Pound_Sterling

"Following the European currency unit
In another change of tack, in 1990 the Thatcher government decided to join the European Exchange Rate Mechanism (ERM), with the pound set at about DM 2.90. However the country was forced to withdraw from the system on Black Wednesday (September 16, 1992) as an international group of currency speculators led by George Soros exploited the fixed exchange rate by speculating on the interest rate differences between Britain and Germany (earning several billion dollars in the process).

Black Wednesday saw interest rates jump from 10 per cent to 12 per cent, and then to 15 per cent in a futile attempt to stop the pound falling below the ERM limits, costing the country tens of billions of pounds as the exchange rate moved to DM 2.20."

[eternalfuture]

TRADERguy,

I think Soros didn't manipulate the market at that time. I think he knew that UK will exit the ERM no matter what because of the matter of interest rates and exchange rates. It was a speculative move/bet based on a policy flaw (by the UK). Soros didn't decide the entry nor the exit of UK into/out of ERM.

It's just like today, when the Treasury had a weak dollar in mind, but kept on chanting the "strong dollar policy". Anybody who still believe in strong dollar policy should have his/her head examined.

Exploiting this issue by selling dollar is the same as what Soros did back then.

Cheers