NoaFX Tutorial

1.6 Market News

There are countless news reports and economic data releases being disseminated every single day, 5 days a week (7 days even if overlapping minority markets are to be considered). Currency traders pay lots of attention to these reports as they give indicators as to how the particular economy is performing.

There is a common misconception that a positive data bearing report will cause the currency to strengthen and a negative data bearing report will cause the currency to weaken.

This is true, but largely ambiguous. Prior to these releases, the market generally has sentiments or expectations pre-meditated over the numbers that this particular report might bring. When the expectations are exceeded, then the currency usually strengthens. Likewise, when expectations are just met or have not been met, the currency usually weakens slightly or drops in value, depending on the magnitude of the negativity of the report.

Sources of Market News

There are several wire services and informational media platforms that bring you these news releases. However, to keep our studies focused and most of all, effective, we shall cover the news service that these sites offer.


One of the most popular Forex traders' sites, has a peerless ability to bring news releases to your fingertips as soon as they arrive. Most importantly, this is an absolutely free service yet highly reliable too.

Let's take a detailed look at what this site offers and what it means;

  • This period indicator shows the window of news reports that the table is currently showing.
  • This is the local time display. If you are visiting this site for the first time, you might want to customize the time to your own local timezone.
  • The date display of the particular news releases due for that particular day.
  • The time of the day which the news is due for release. If you haven't already done step 1, this time is normally set to NY, CST time by default.
  • Currency column: Currency symbol of the currency that is the nation's legal tender will have the highest impact as well upon this news release.
  • Impact indicator: This indicates the severity of the impact that this release might bring and also as to what level of importance the market gives this news release. The colours of the indicators are from the least important to the most important
    • White
    • Yellow
    • Orange
    • Red
  • News Event: The name of the event/news report that will be released at this particular schedule.
  • Event Detail: Detail of the particular news event (clickable). Clicking on this icon will give you more detail about what this news report is about. If you are interested in the bearings of the news, how the data is compiled, what the numbers would mean and so on, you may want to educate yourself using these details.
  • Actual Release Number: Probably the most important area of the whole screen. This is where the actual news release details will appear, when released.
  • Forecast number: This indicates what the market is possibly expecting. As mentioned earlier, actual releases that exceeds this expectation will drive demand for the currency.
  • Previous release number: This shows the actual data that was released for this report, during the previous release.
  • Chart Icon (clickable): Gives a historical visual chart report of the previous releases and what their expectations and revisions were. May give an insight to the trend with the particular news report over history.

Another popular and highly regarded service which gives instantaneous news feeds as they happen is With market commentary, analysis, live feeds and audio news releases, this service is quite easily one of the best services around to give you in-depth knowledge as to economic numbers being released throughout the world.

The news events covered too are of far more detail. This service is available on a paid subscription basis only.