Remember, the reports you read are all time-sensitive. The vast majority of information has become a thing of the past, and the market has fully responded to the published report.
If the market has responded accordingly, you should probably adjust your current trading strategy. Because, “yesterday’s news” is obviously outdated for foreign exchange transactions.

You must also have the ability to determine whether the news you are analyzing is facts, rumors, fiction, or the views of others.
Rumors of economic data do exist in the market, and such rumors may spread out minutes to hours before the data is released. Rumors will prompt some short-term traders to react, and the behavior of these short-term traders may also have a continuous impact on market sentiment.
Large institutional traders are also often affected by rumors. In a decentralized market, it is difficult to know the authenticity of the news, such as the spot foreign exchange market. Identifying the authenticity of a message is never a simple task.

As a trader, your job is to develop your own trading plan and respond quickly to such news or rumors before these rumors prove to be true or false. Making a complete risk management plan may save you from unnecessary losses.

Our final recommendation is to know the original source of the news.

The higher the focus on foreign exchange news and media, the more professional knowledge you will gain.

The more you know the source of the news release, the more likely you are to identify the accuracy of the news. Those who report news have their own schedules, and they also have their own strengths and weaknesses.