MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Talk » Fundamental Trading » Markets key events

[Livermore]

It is very easy. Just follow the flow - and wait for the rebound. With a tight stop. But you must know what the numbers mean and what the consensus are.

[davidwt]

When I started at the beginning of this thread, it occurred to me that if I knew of an upcoming announcement its possible surprise outcome, I would be put in two entry orders, one long and one short. Each would be far enough away to be triggered only by one direction of the market, if there was a surprise (how far, I'm still unclear). Then I read Mongoose's response and seems like he is doing that, if I understood him correctly.

Then if the currency pair does not move upon the anouncement (within some time frame, not sure what), I would cancel both orders. If there is a move in one direction, I would cancel the other order. To exit, would be the first period that its hi/low is considerably smaller than the prior periods in the move.

This way one does not need to guess which way the pair goes upon the announcement, but can still go for the ride, if there is one.

I would like to hear helpful comments on this, since I'm new to the forex.

[Livermore]

It's easy to get consensus for US figures. But where can we get consensus for UK and Euroland figures?

[gregh285]

www.forexnews.com

at bottom of page

[Livermore]

Thanks.
Good website.

[Livermore]

Yes, it is the US numbers that really move the markets. Today there came numbers from both UK and Germany. Who cares?

[csaunders]

Not always true - the UK released some bad trade deficit figures yesterday which triggered a huge slide in the GBP

Cheers
Cliff

[Livermore]

Yes, in GBP. Norway had some eco numbers today, which also moved their currency. But when we are talking about EUR/USD - it's more eco report from US than Euroland that counts.

[eternalfuture]

Another thought,

All economic releases are important, especially for longer-term traders. Studying U.S. data only will mostly work. However, dollar is not always the main driver of daily moves. Sometimes, euro drives the market, sometimes it's yen.

Paying attention to these releases, either U.S. only or other major economies will provide us with more understanding on how the global economy performs, and also regional economies, as well as individual economies.

Ifo releases, for example, may not be a U.S. data. But it could be important to understand Germany's economic conditions. INSEE survey will be useful as a guide to understand French economy. Tankan also a good indicator for studying Japan's economy. Japan's growing pretty good lately. One may not notice it if he/she is confined to U.S. data only. Why the BoJ intervened may be found in Japan's economic indicators. Improving signs of Japan's recovery has made the Japan's monetary officials pretty nervous about the potential plunge in USD/JPY, thus they intervened heavily lately.

My point is, if you want to understand the economy globally, not just American economy, foreign data are important.

It's just a thought, anyway.

Cheers!

[Baruch]

Originally posted by eternalfuture
...

I agree.