You know, Forex trading is a 24/7 online process with no limitation. Since Forex trading strongly depends on the catalysts (i.e. event and other news that forces the price up and down) such as economic data, changes in central bank policy, or random tweets from a certain individuals, then, they will response to news from all around the world. Therefore, in this post, we will take a look at the most noticeable currencies, the most relevant Forex trader’s data, and the best platform for Forex trading.
Focusing on Currencies? Which one is better for Forex Trading?
As a Forex trader, you surely know about the most frequently used currencies. They are always a piece of economic data (or better to say economic indicator) used by analysts to predict the current or future of investment possibilities. Then, Forex traders will utilize this trade news for better trading. However focusing on these currencies is very essential for the best experience in Forex trading, but there are eight major currencies that are known to most traders. These currencies are including:
- USD (U.S. dollar)
- EUR (Euro)
- GBP (British Pound)
- JPY (Japanese Yen)
- CHF (Swiss Franc)
- CAD (Canadian Dollar)
- AUD (Australian Dollar)
- NZD (New Zealand Dollar)
These are the most frequently used and the best currencies that also used in Forex VPS plans. These currencies will trade all around the world and will change through the news release. This means, you can handpick the news release of a day, and select the currency that stay at the central focus of traders. However, since the U.S. dollar had taken 90% of all currency trades for years, U.S. economic indicator tend to have the most impact on Forex trading and Forex markets.
This impact will influence of the selected Forex VPS services, too. Most of the Forex traders utilize a USA Forex VPS provided by known companies such as Routerhosting. These VPS providers have an excellent impact on the trading markets, too. Thanks to their exclusive plans with high level of speed in trading and excellent performance.
When Usually Forex News Will Release?
We spoke about the impact of news release on Forex trading, and now, we realize the importance of these release indicators on Forex markets. But, what is the approximate time of the news release? Below is the list of approximate time for each currency:
- USD: 8:30 to 10 a.m.
- EUR: 3:45 to 6 a.m.
- GBP: 2 to 4:30 a.m.
- JPY: 6:50 to 11:30 p.m.
- CHF: 1:45 to 5:30 a.m.
- CAD: 7 to 8:30 a.m.
- AUD: 5:30 to 7:30 p.m.
- NZD: 4:45 to 9 p.m.
How Long Does the Effect of News release on Forex Trading Last?
According to a study by Martin D. D. Evans and Richard K. Lyons, Forex trading and its markets reacts to release news hourly (or in some cases, will be days). This study will show that the impact generally occurs in the first or second day (and will remain until fourth day). For example, the latest news about Forex is here:
According to DailyFX.com, the US dollar is continuing to hold at the same resistance as yesterday. This resistance will help Forex trader to invest and continue trading. The last week saw a strong EUR/USD test for this resistance running from 1.2134 to 1.2167’ and the USD strength on Friday. This is the latest news release published on 5th May 2012 and will change hourly.
Best Platform for Forex Trading
One of the best platforms for Forex trading is Forex VPS services. According to Routerhosting.com, the Forex VPS hosting plans are one of the most reliable and secure platforms. You can trade 24/7 from all around the world. With the best uptime, lots of available locations as well as USA, you can trade in a most convenient platform. These Forex VPS plans work well with MT4 / MT5 and cTrader that all of traders are familiar with them.