Does anyone use it? Under Economy/ Economic Reports it looks like it catches most of the important stuff... is it reliable/fast?

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DislikedI've started using it. I combine it w/reports from forexfactory and dailyfx.com. It is a useful way to look at the market. Are you talking about FXNewsEffects?:
http://fxlabs.oanda.com/cgi/fxlabs.pl?id=10Ignored