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Historical Data of Economic News Releases?

  • Post #1
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  • First Post: Edited 9:18am Aug 19, 2007 8:59am | Edited 9:18am
  •  ForexNewDude
  • | Joined Jul 2007 | Status: Member | 31 Posts
Is there a web site where I could get a history of all the economic news releases of a particular country.

For example, I would like to know the GDP news releases of USA and how it impacted the USA dollar against other currencies in the past 1 year. How do you find out info like this?

I have scanned the other posts... One of the links to a supposedly good resource was dead.
  • Post #2
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  • Last Post: Aug 19, 2007 3:47pm Aug 19, 2007 3:47pm
  •  clockwork71
  • | Commercial Member | Joined May 2007 | 7,594 Posts
New Dude -

I do not know of any place that keeps the information you are looking for either. But, please allow me to add this to your thought process:

As I am sure you have read, there are various reasons NOT to trade the news. Illiquid environment is one big reason. (This is the main reason for spikes.) Your broker running stops is another great reason to stay out.

I know that there is a certain appeal and rush to trading these things, trust me, I was there not too long ago.

Besides, if there is one or two year old data available, what relevance does it have to today's situation? ANY mention of credit issues, hedge funds collapsing, home builders closing down shop, are all driving the market right now. Pure panic.

So, let's pretend a new housing number comes out double what they expect in the USA. Would this cause a mass rally in the dollar? Maybe? It certainly would cause a knee-jerk reaction. (In my estimate.) But, the question is this: Would that rally sustain itself?

The answer is, I don't know. You don't know. Nobody knows.

Another thing to consider is that even if you catch that 20 pip spike, it could either be for OR against you.

The truth of the matter is that support and resistance are the only things that truly matter.

If there is a wall at 1.3450 in EUR/USD, then you don't want to gamble and buy that pair at 1.3435 on some news announcement. There have to be enough people in volume buying to bust through all of those stops. Do you know this will happen? Do you know how many people are buying? This market has no central exchange. You are NOT seeing real Interbank pricing. You are seeing what your broker wants you to see. And then there's the fact that the information you get is so much slower than the big boys, it isn't funny.

Stay away from news if you want to survive.

Clockwork71
 
 
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