Forex news is released at various times throughout the day and night like the recent updates being shared here. You want to decide which news source you trust the most and then pick those updates from your alerts. Very early Wednesday morning the highlights included the Euro was at a high versus the dollar. Also, the yen was seeing some drops in stocks due to a currency sell off. Wednesday August 21, 2013 was being marked as the day to listen to Fed minutes. The India rupee was also hitting a record, but a record low, against the dollar. These are just some of the news updates you can learn by quickly scanning various resources or just one article by a trusted expert.
Forex News Interpretation for Wednesday
By the time news is read online it can be too late to act. Sometimes you have a little time to wait like USA news. When the market first opens in New Zealand it is on the close of the USA which means most of the liquidity and volume is leaving the market at least on USD currency pairs. As the Pacific starts to wake up, trades on NZD, AUD, and JPY pick up from the forex news that ended the New York day.
For the USA there is always a waiting game. Many are going to wait until the minutes are shared for the USD to act on any changes they might read in the headlines. Certainly knowing the dollar fell the previous day giving it a six month low is important. It also reacted with the Swiss franc to lower in terms of value. It is all due to the timing of the minutes the Fed is about to give out. The report is released sometime between 9 and 11am New York time. News that comes out at 2:30am is going to shape what one looks at, but not what happens. The talk in forex news is still about the minutes talking about the Fed reducing stimulus. It is also stating that 10 year notes are dropping in interest due to the talks.
This news tells traders to look at two things before they pick a position with a USD currency pair, even one like the AUD/USD.
Two Aspects of Forex News Updates
The forex news that yields are down for the 10 year note is important since it means now is not the time to make a sale on those products. It does indicate that purchasing the 10 year note is more reasonable than in previous weeks when the rates started to rise.
The second thing a trader can infer is that the stimulus talks are causing the USD to go lower in terms of value. There are a variety of mixed signals in the market with the USD which tends to be the most traded currency. Based on the talks about to happen, waiting is important. By waiting for further forex news to see what the minutes actually reveal there is a chance of better profit. The USA news will affect more than USD trends too. For those reading in the future and not the now check what happened for reference.