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Important economic news to follow

Fri Apr 23 2021 10:17
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Economic or financial news is important to follow as a market trader. As an inexperienced trader, you may find it difficult to find authentic and authorized news. This is because there are a variety of sources for economic news. Different trading markets have different news sources that are used by traders. 

Regardless of which platform you belong to, you need to monitor the news that relates to your trading market. Here is all the information about economic news that you need to follow as a trader. 

Whether you are a forex trader, a stock trader or a commodity trader, there are different news sources. There are some specific economic news sources for forex news and specific ones for stock market news. 

A variety of sources will confuse you about authenticity. You will find it hard to differentiate between manipulated news and authentic news. Therefore, we are here to help you know the best sources of trading news.  

The main types of business news you need to know 

Before we mention any business news feed or source, we want you to learn about news sources. There are different types of news and their sources. So, it is important to understand what kind of business news is really important for you. 

A news source or news that is important to others does not mean that it is equally important to you. There are many business news or economic news based on different metrics. Below are some important types of news that you may need. 

Based on market size 

The first type of economic news that you will find in the market is based on the market size. If you are a trader in the global market, then there will be global news for you. So, it depends on the market size that you are associated with. Below are some of the major news types based on market size.  

Global news 

Global news is important for all traders out there in the world. Regardless of whether you are a global trader or a trader in another market. It is imperative that you follow global news.  

Regional News 

Regional markets like Asian markets, European markets, etc. have different news sources that are made specifically for regional traders. As a local beginner trader, you must also use the regional news sources.  

National or Domestic News 

National or domestic markets work within a specific country. If you are trading within a country specific market, then national or domestic market news is important for you.  

Based on the trading market 

The next important type of market news is based on trading markets. There are various trading markets out there. It depends on you which trading market is important for you. Whether you are a stock trader or a forex trader, you need different and specific news sources for you.  

Forex Market News 

If you are a forex trader who is looking for the right currency pairs as financial instruments, then you need to watch the forex market news.  

Stock Market News 

As a stock market trader, you need to know what is happening in the stock market. You also need to know what listed companies are doing for economic growth.  

Commodity News 

If you are trading in commodities like crude oil, agricultural commodities, precious metals like gold, silver etc, you need to follow the commodity news.  

Cryptocurrency News 

The cryptocurrency market is also one of the fastest growing digital asset markets in the world. Cryptocurrency traders need to know what blockchain technologies are growing and what is happening in the cryptocurrency market.  

Based on financial institutions 

The next important type of financial news is what financial institutions are doing. There are various financial institutions in the world. Some of them operate globally while some operate in regions and countries. These financial institutions or financial authorities have different responsibilities. 

The decisions, policies or events related to the financial institutions affect different markets and trade values. Therefore, it is important to follow these types of news from financial institutions. 

News from central banks 

Central banks operate within certain country boundaries. These banks are responsible for central bank policies, trade policies, monetary policies, etc. All the actions taken by a central bank are important for the traders.  

National Fiscal Policies 

All the governments of different countries always work towards the financial growth of their country, certain industrial sectors and currency. For this reason, there are new financial policies every month or every year. You need to keep track of what your government is doing for financial growth.  

Regulators for trade 

Commerce is one of the most emerging professions. It helps countries and institutions to grow economically. That's why trading regulations are created or changed in different countries and on different trading platforms. You need to keep an eye on the trade regulator of your market or country.  

Top sources for business news 

There are different types of sources to get economic updates. You need to understand which sources are reliable. To know the reliability and authentication of the sources, you need to try them. Below are some of the major news sources used by traders today. 

All these news sources have different levels of authentication. Sometimes, less authentic news helps traders more than an authentic news source. But there is always a risk in trading with less authentic news sources.  

Media Publication 

The first news source in our list is the most reliable and trustworthy. Media publishers always keep an eye on financial news. Business news from different markets, industries and countries are provided by the media companies. However, nowadays there are some doubts about the manipulation of news.  

Experienced traders 

Experienced traders are always there to help beginners and novices. You can follow the expert traders on their official accounts. You can watch or read their interviews that they give to media houses. These expert traders can help you a lot. 

Social Media Handles 

It is also important to follow the social media accounts of expert traders, fund management companies, institutional traders, etc. They can provide you with much more information than the mainstream media. 

Official sites 

Official sites of various financial institutions like NASDAQ, The Wall Street Journal, etc. can help you a lot in getting the latest news from an authentic source. 

Financial blogs 

Apart from media websites, there are also some independent financial blogs. There is less risk of news manipulation on such financial blogs. 

Top websites to get business news 

There are a variety of websites that you can use to get business news. Below are some of the top news sources or websites that you should definitely follow. 

You can subscribe to their newsletters or sign up as a reader to get the latest updates. Most of them are free while some charge a few dollars for you to subscribe to them.  
  • #1 Morning Star 
  • #2. Bloomberg 
  • #3. Market Watch 
  • #4. Investopedia 
  • #5. Nasdaq 
  • #6. Motley Fool 
  • #7. Yahoo Finance 
  • #8. Economist 
  • #9. Financial Times 
  • #10. The Wall Street Journal 

Summary - Important Economic News You Must Follow 

Choosing the right economic news and the economic calendar source is important because it can make your trading decisions more accurate. You can create a successful trading plan or strategy using news. But there are also risks of news manipulation in the market. 

Therefore, you need to be very attentive in choosing the right news source. Also, you need to pay attention to the type of news. You need the right and most relevant news type for your trading portfolio. 
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