If you are or want to be a news operator in the forex market (FOREX), you definitely need to rely on reliable sources of information for the success of your operations. Whether it's a news story, a merchant, a day trader or a long-term merchant, you'll find that being armed with reliable information can help you succeed. Where can you get this type of information?
In this era of Internet-based data, you can access several financial data sources online without having to leave your home. All you need is a reliable computer and internet connection, preferably high speed. Many of the sources you find online will be free. However, most of the free sources will probably come without in-depth expert comments or recommendations about the trade that you may contemplate. The owners of the main portals, such as the MSN and Yahoo homepage, will generally include very important economic news information. For example, in the case of the US Nonfarm Payroll Report. US, Internet portals may include information on expected employment figures or at least a link to such preliminary reports. Websites such as Forex Factory Oanda and Interbank FX will also provide some free financial news and research information. The last two are retail currency brokers that serve individual investors. You will find that some of the brokers even have a regular newsletter or a commercial forum that provides account holders with comments or analysis about impending news events.
You may remember seeing the diligent investor in your local library years ago who poured into pages and pages of information in volumes of financial information such as Standard & Poor & # 39; Line, Value Line, etc. Although these services may be traditionally oriented towards stocks and bond markets, many of the same financial news and corresponding conditions that affect those markets will also affect the currency market. Now, however, subscriptions and online versions have moved to claim a substantial part of this research market, but they have not replaced the older sources in their own interest. Hard copies of Wall Street Journal and Investor & # 39; s Daily have not been completely displaced by their online counterparts. While you may find free access to certain sources in a public or local university library, your connection in the office or at home will generally cost. These fee-based services include companies that provide fast and up-to-date news such as Reuters and Bloomberg, often favored by news merchants for their speedy delivery of government economic news and other reports. Although most individual traders can not justify the high cost of such services, it does not appear that services will be closed soon, since their services are highly demanded by the institutional and corporate sectors.
Sandy Robinson, JD, Copyright 2007