The most important aspect of daily life that affects the situation on the Forex market the most are economic news. Unlike the stock market, which is mostly influenced by micro-economy of companies, the currency market is influenced by macro-economic factors of economies in different regions and parts of the world. The most important news for foreign exchange trade is generated by government authorities, such as central banks, economic associations, and other. Many traders use news trading as a short-term advantage strategy, which helps them take advantage of market volatility right after the news appear. But important news announcements sometimes can shift the market significantly, and the movement can be in different directions, which are sometimes hard to predict. Another important aspect of Forex trading is usage of a Forex economic calendar. The Forex calendars show the history of numbers and rates for different currencies, also showing the future forecasts for each news announcement, which is about to come out. You can not only analyze the tendencies of the past events in the market, but also see, if the predictions correspond with the real results of news announcements.
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