When trading Forex, you need to know a lot more than just the exchange rate between the two currencies you want to trade. You also need to know about the economic and political conditions of the countries whose currencies you plan to trade. Entertainment
In addition, you want to watch for any dramatic moves in the value of either currency in the currency pair you plan to trade that might impact the value of that trade. You should also be aware of any upcoming economic announcements that could affect the volatility or the relative value of the currency you are considering trading, so that you can determine the best times to trade.
You might wonder whether currency trading is the best market for you to trade, or if some other market would be better for you, such as stocks or futures.
When it comes to finding news about the financial markets, you may already be aware of the three top news sources: The Wall Street Journal, Bloomberg and The Financial Times. There you can find breaking news about various currencies as well as upcoming economic events and economic indicators.
You should also read the key newspaper for whichever country’s currency you plan to trade. Many times it will take days and sometimes weeks to learn about key news stories that impact only one country. If that country happens to be one in which you are trading its currency, you want to know the breaking news as soon as possible. The best way to do that is to read national newspapers for the countries whose currencies you trade.