Resolved Question
Is there a way we could know in advance how certain economic events will affect the market?
I’ve noticed that economic events have strong impact to the market -- and I often dislike the results. Can we just watch the chart and make our own prediction on how market will react in these events?
over 2 years ago
Best Answer - Chosen by Voters
Websites like www.dailyfx.com, www.forexfactory.com and www.babypips.com publish the past and upcoming data (consensus) of major economic events in the major countries like the US, UK, Japan, etc. The sites also detail what the economic report is about and most importantly their impact on the market. It is always better to have an idea of the upcoming economic events and their consensus. Any deviation from the initial data estimate sometimes causes the price to go against technical signals.
over 2 years ago
Source(s):
Answers (3)
I suggest that you check out currency news sites (such as www.fx360.com, www.dailyfx.com, or www.forexfactory.com) because they give a heads-up on upcoming high-impact economic reports. It would be wise to have an idea about these economic releases and the forecasts because sometimes technical analysis is not enough. There tends to be a lot of volatility during and after these releases so it's best to be aware. Some of these sites offer forecasts for the economic data so that could help with predicting how the market will react.
over 2 years ago
* You must be logged in to add comments. Sign In or Join Askpips.com.
I don’t think you can predict the market movement especially during the important events by just watching on your charts.
over 2 years ago
* You must be logged in to add comments. Sign In or Join Askpips.com.
We can’t predict the market reaction by just watching charts. Maybe you can consider reading some stuff like weekly or daily currency commentary.
over 2 years ago
* You must be logged in to add comments. Sign In or Join Askpips.com.
Open Questions in Economic Indicators
Resolved Questions in Economic Indicators
- What does CPI stand for?
- Why is the Federal Reserve meeting held at Jackson Hole, Wyoming?
- Should i learn all the fundamental indicators myself or is it sufficient enough to rely on websites for market
- What are news that move the market?
- What does Non-Farm Payroll represent? How important is this event for currency traders?
* You must be logged in to add comments. Sign In or Join Askpips.com.