How to Know Forex News Before Release
My understanding is that you want to position before the news to get an edge.
If you have a fundamental bias on the data, you could get in early, but most of the estimates about some data release is already public, on forex calendar. So, you will see what all others can also see.
If you have access to some market service on platforms like Bloomberg terminal or Refinitiv, you could get a better idea if there is a surprise number.
But there’s no way for getting forex news before everyone else.
If you have access to good data services (they are expensive, most retail traders cannot afford it, or may not even need it), you could get access to DTCC FX options data which could help you understand where the large orders are before the news.
Generally price tries to magnet towards these level during news events. Or go from one major level to another.
My understanding is that you want to position before the news to get an edge.
If you have a fundamental bias on the data, you could get in early, but most of the estimates about some data release is already public, on forex calendar. So, you will see what all others can also see.
If you have access to some market service on platforms like Bloomberg terminal or Refinitiv, you could get a better idea if there is a surprise number.
But there’s no way for getting forex news before everyone else.
If you have access to good data services (they are expensive, most retail traders cannot afford it, or may not even need it), you could get access to DTCC FX options data which could help you understand where the large orders are before the news.
Generally price tries to magnet towards these level during news events. Or go from one major level to another.
As an example of the point above regarding options barriers, there are large options barriers today at 350 & 400 (expiring at 10 AM NY or 3PM GMT). The first 15M after the NFP release, it spiked both these level.
A break lower has support at 325, 310 & 300 as well. But I am not sure how you can trade it, before the news event. If you positioned yourself for a binary one sided outcome, then you would be stopped out on either side.
No one can get the release before the actual release. If you are talking about knowing the NFP number before the release.. something like that.
What you can do is do market research and come up with expected number and what you expect the market to do after the number comes. Place an order before the news in the expected direction.
You can still be wrong as market can go up on a bad news but down on a good news. So there is no edge in trading the news.
There is an options data that can show the positioning of people but that is not cheap to get, you will need bloomberg terminal or refintive for that. They cost upwards of 25K an year.
No one can get the release before the actual release. If you are talking about knowing the NFP number before the release.. something like that.
What you can do is do market research and come up with expected number and what you expect the market to do after the number comes. Place an order before the news in the expected direction.
You can still be wrong as market can go up on a bad news but down on a good news. So there is no edge in trading the news.
There is an options data that can show the positioning of people but that is not cheap to get, you will need bloomberg terminal or refintive for that. They cost upwards of 25K an year.
You cannot predict what the forex news will be but you can make a guess and hope you are right; it is purely speculation and carries high risk. For example NFP is always released before CPI so if NFP shows more jobs have been created it could imply that inflation may increase as when more people have jobs, spending increases.
But this is purely speculation and is you might be wrong. This is what makes trading during important news events very high risk because if you are wrong you could blow your account.