Economic news are released regularly on the basis of cycles and these news are published by Forex related websites on economic calendar section. Forexfactory, Investing etc sites are popular for publishing economic news because they have biggest agency like Bloomberg, CNBC, Reuters etc.
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For fundamental analysis economic news are very vital because when a news is released market moves over 40-50pips within few minutes. Every news may not equally important as price movements are not same on each news . High impact news can move the price more than the medium impact or low impact news .
There are three types of data value in the economic calendar such as
i) Previous value
ii) Forecast Value
iii) Actual Value
Economic news ( i.e GDP, Interest Rate, Retails Sells etc) of a country are published in a cycle such as US Non-Firm Payroll news published every month within first week, UK prelim GDP published every three months. So previous data show the past actual economic data value.
Forecast value is not a actual data value as it is the estimate value of guessing by the greatest economist with respect to the current economic variable or growth of a specific country.
Actual value shows the current data value of a economic news. If the actual value will comes bad than the forecast value that means the economy growth is going to down. So the general rules are-
Actual Value > Forecast Value = Good For currency
Actual Value < Forecast Value= Bad for currency
Notice that it may be vice -versa for some specific economic news such as Unemployment Rate.
See average pips movement with USA, CANADA, EUROPE, UK, AUSTRALIA and NEWZEALAND economic news by the following links
1.United States of America(USA) Economic Report Influence On Forex Market
2.CANADA Economic Report Influence On Forex Market
3.EUROPEAN Economic Report or News Influence On Forex Market
4.United Kingdom (UK) Economic Report Influence On Forex Market
5.AUSTRALIA Economic Report Influence on Forex Market
6.NEW ZEALAND Economic Data Report Influence on Forex Market
See also 3 Shortcut Tips of Forex News Trading