Either you are simply starting in Forex or have a expertise in it, but it’s very important you stay on top with all the Forex news happening in the industry. Staying intact with what happens around the world within your industry can be really addictive at times. Moreover with a globalized world it seems that something happens somewhere every moment of the time.
Here we are listing some of latest news about nigeria that has happened in and around the forex industry and will impact your business as well in some ways. Remember that Foreign exchange currencies are always paired so you will need to receive relevant news about the comparison of two different currencies or commodities. Some examples of relevant news that would have an impact on various currencies around the globe would be;
-A recent story reported that retail traders had just tipped to a net short positioning on the same day that the British pound gained a 200 point plus rally.
-Forex traders watch the U.S. housing slump very carefully, gauging the market for mortgage futures.
-When the U.S. Fed made its recent rate cut, one Forex news service reported that expectations for the U.S. Dollar were “falling like a rock.”
-Recession fears in the United States may drive the dollar even lower than it already is. (In Forex trading, the fact that the dollar drops is not considered negative, as long as the trader leverages the drop when trading for higher priced, more valuable currencies around the glove.
Most people are under the wrong impression that currency and finance news are the only things that interests any forex trade, yet political news is very important as well as they can give you hint of the political movement of different nations and their where their country is headed. You need to make sure that you follow the trend that goes throughout the world.
Currency and financial news are not the only news stories of interest to Forex investors and traders. Forex traders are also interested in political news that can have an impact on a country’s currency.
-Tragic events like the assassination of a political leader can affect currency futures in the country where the event occurs and can have a ripple effect in surrounding areas; for example, the assassination of Benazir Bhutto in Pakistan.
-Natural disasters like an earthquake, hurricane, or typhoon can consume a great deal of a country’s resources; therefore, Forex traders watch news of such disasters.
-Political events, like the U.S. presidential election cycle, has significant effects on currency valuation; therefore, Forex news contains updates on presidential candidates, primary elections, and general elections.
Forex news services add value to the news stories they provide by analyzing current events and predicting how they will affect the exchange rates of various currencies around the globe.
Some popular sources for Forex research and analysis are: Daily FX, Rabobank Technical FX Daily, Scotia FX, TRL, Mizuho Corporate Bank, CIBC World Markets, BHF Bank, and Mellon Foreign Exchange.