Forex fundamental information release and currencies to be focused by Agwu Chukwuemeka O.

In forex trading, economic date tends to be one of the most important catalyst for short term movements in any market, this is particularly true because it responds not only to US economic news, but also to news from around the world. With at least eight major currencies available for trading at most currency brokers and more than 17 derivatives of them, there is always some piece of economic data slated for release that traders can use to decide the positions the take. Generally, no less than seven piece of data are released daily from the eight major currencies or countries that are most closely followed. So far those who choose to trade news, there are plenty of opportunities. We can check which economic news releases is released when, which is the most relevant to forex traders and how traders can act on this market-moving data. The following are the major eight currencies that should be our focus:-
US dollars (USD)
British Pounds (GBP)
Euro (EUR)
Japanese Yan (JPY)
Swiss Fran (CHF)
Canadian dollar (CAD)
Australian dollar (AUD)
New Zealand dollar (NRD)

We can deduct from the list, that the currencies that we can easily trade span the entire globe. This means that you can handpick the currencies and economic releases to which you pay particular attention. But, as a general rule, since US dollar is on the “other side” of 90% of all currency trades, US economic releases tend to have the most pronounced impart on the market.

Trading news is harder that it may sound, but some releases are more important than the others; this can be measured in terms of both the significance of the country releasing the data and the importance of the release in relation to the other pieces of data being released at the same time.

Agwu Chukwuemeka Odi is an expert in the field of forex trading. Visit http://forexonlineinseconds.blogspot.com for more information on forex trading.