Thought I would put fingers to keyboard to describe how I day trade major economic releases
Here is an example:
At the moment the Fed are going to hike interest rates. So leading up to a major event like the FOMC minutes is obviously important
Firstly, I read what the banks are thinking
https://www.efxnews.com/story/35416/...10-major-banks
So we can see that the main banks - Goldman, BofA Merrill, Morgan Stanley are fairly bullish
So going into the event there should be dollar strength- which we can see
Quite often in these events its a case of buy the rumour sell the fact- so after the minutes had been released the does the opposite. (hence the sell off)
We had a similar event last week on employment figures for the Aussie.
GL
Here is an example:
At the moment the Fed are going to hike interest rates. So leading up to a major event like the FOMC minutes is obviously important
Firstly, I read what the banks are thinking
https://www.efxnews.com/story/35416/...10-major-banks
So we can see that the main banks - Goldman, BofA Merrill, Morgan Stanley are fairly bullish
So going into the event there should be dollar strength- which we can see
Quite often in these events its a case of buy the rumour sell the fact- so after the minutes had been released the does the opposite. (hence the sell off)
We had a similar event last week on employment figures for the Aussie.
GL
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