Trading Discussion Do you think news affect forex market like how crypto is affected

[Wisdom01]

the crypto market have been faced with a very huge fall because of different news about country banning it and others posing a negative trend on the market and such thing is not really helpful for investors, beccause of this many investors are taking move back to forex trading and continue their swing trading analysis , remember there was a time the bitcoin market had a huge and mighty fall in a hour from $38k to $28k , i know that it would be difficult for such to happen on forex considering their rate of volatility and others , and also how infulential individuals like elon musk and many other could either pose a negative and positive threat to the market , disturbing the buyers trade as well , so whats your say do you think the forex market could be easily infulenced by news just like the crypto market

 

[Sotherefore]

It cannot affect in that way but a situation in which an economy of a particular country is about to be boosted then this is an opportunity for forex trader to trade, they are constantly in readiness to know what is happening in each countries of the world so as to use that opportunity to make profit in forex trading, information may not affect Forex as in cryptocurrency.

 

[sincerem]

Crypto isn't own by countries, it is owned by anonymous software developers, those who are very smart with coding centring it to Nakamoto satoshi as the creator of the first world digital coin (BTC). But forex is simply owned by government of each country cos it uses fiat currency to trade that's why news doesn't affect it.

 

[btaliat]

In as much as I want to believe, it is not ordinary news that killed or that's killing cryptocurrency. Happenings in the crypto market is what's making it less lucrative. I don't see this happening to forex because it is being monitored. Government regulates the activites on forex unlike crypto where there is no centralized government for its monitoring.

 

[Razor1911]

There is no second thought to it. News really have large impact on the forex market as well as crypto market or any other market which is related to it. it is very important that whenever we trade in forex market we first check out the news which are about to release in our trading session. So that any unforeseen result in news should be managed prior to its release.

 

[Alexandoy]

You know, I sometimes wonder why people would rely on the news about crypto. Like the tweet of Elon Musk people were in a frenzy to buy Bitcoin and alter Doge coin. With forex the news about the political situation and economic condition of the country can affect the value of that country's currency. That is a solid basis and not just a statement from a wealthy guy who bought a billion worth of Bitcoin.

 

[Chibson]

Of course news affects the market of forex trading. Good forex traders will always devote their time to listen to news pertaining a lot of countries especially the ones in which they are trading their currencies. cryptocurrency on the other hand is also largely affected by news in the sense that whenever a news about a new project is coming out then a lot of people will buy hoping that the price will go very high.