Receiving economic and geopolitical data without delay is a prerequisite for successful trading in the financial markets. In particular, unbiased news received without delay can enable a Forex trader to generate hundreds of pips in profit within a short period of time even if news trading is not your primary strategy. Low cost, high speed communication facilities have made it possible to get low latency news feeds from diversified sources. In this regard, the list of the most popular sources of currency news is discussed below.
Dedicated Forex News Websites
It is arguably the best source of the market related news for beginner traders. Almost all the FX websites run by individuals and organizations, which are not related to any government institution, provide unbiased news feeds. Since traders would only visit websites that provide reliable information at lightning speed, most websites take care of the quality of news published by them. A partial list of the most popular websites among the trading community is as follows:
Business and Financial News Providers
Some of the traditional sources of business and financial news cover currency markets through a dedicated section. Most of these websites are run by multinational media houses having world class reporters in several parts of the world. Thus, they generally offer unique insights into the latest developments in the foreign exchange market. The list of such well known financial news providers is as follows:
TV Channels
Satellite television channels that offer business and financial news on a 24x7 basis are also a major source of Forex news. Such channels regularly conduct interviews with prominent heads of financial institutions. So, a trader will not only have an opportunity to be updated on the latest developments in the FX market, but also knows the likely impact of particular news on a currency pair. Channels that are worth mentioning here are CNBC, Fox Business, and Bloomberg TV.
Forex Platforms
Most of the Forex brokers offer currency related news through their trading platform. The real-time feed hardly misses an event that would have a major impact on the major currency pairs.
Forums
Forums provide the best platform to share thoughts, get doubts clarified, and exchange trading ideas with experienced Forex traders. Most of the forums have a dedicated section for Forex related news. By subscribing to the news section in such a forum, a trader can keep abreast of the news that move the currency market. Some of the most popular Forex forums are BabyPips, Trade2Win, and ForexFactory.
Of course, our own Forex forum is also a great community for traders to share market news in a friendly manner.
Social Media
Social media platforms such as Facebook and Twitter play an important role in shaping the market’s view of currency pairs. Large trading groups usually have a firsthand access to important news. Thus, it would be beneficial to join such trading groups to have access to the news and share trading related ideas with professional traders. It would be difficult for a beginner trader to read all the Forex related news, flip through charts, and decide the suitable pair to trade. In this regard, social media platforms would be of great assistance as the trader can get to know the currency pair where the action is currently going on. Notable Twitter accounts sharing currency news are: @PipCzar, @tradermade, @boes_, and @ForexStopHunter.
Blogs
Forex blogs are nothing but customized web pages of individual traders who provide regular updates on the currency market. Such blogs also offer analysis of currency pairs, teach new trading strategies, introduce new indicators, and even provide trade setups. More importantly, unlike a plain Forex news website, a reader of the blog will usually be able to communicate with the blogger.
Forex news providers such as previously mentioned ForexFactory, BabyPips, and DailyFX offer customizable blogs section, which can be used by individual traders to provide news updates and write their thoughts on the market. On the other hand, there are individual blogs run by well-known professional traders. The examples of such blog include Forex Crunch, FX Renew, BK Asset Management, and Market Anthropology.
Bankers and Institutional Level Contacts
It is also one of the most reliable sources of news on currency pairs. However, unless you have a school or a college mate working as a proprietary trader, developing contacts with institutional level traders will take time. So, it should be the last option for a beginner trader.
Conclusion
All the news sources mentioned above may not suit all traders. Depending on the timeframe of analysis, two professional traders may have contradicting opinion about a currency pair. So, depending on the trading style and risk profile, a trader should select the most suitable news provider and stick to a simple strategy. Otherwise, it would be too easy to sink in the overwhelming sea of mostly useless news and information.
