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Trading News? Beware of the Freight Train

Trading News? Beware of the Freight Train

6 Years ago | March 05, 2014 00:00:00

I have written articles about why news matters and it is hard to see this changing, especially with algos hooked on it as well. Personally, I prefer to trade on expectations of key news events and anticipate how the market will setup beforehand as this is less risky than rolling the dice or trying to catch a trade after the news comes out.

However, this is for another discussion as the focus of this article is on interpreting the economic news and the fallacy of trading on it when it misses the consensus forecast by a small fraction. Take the events of Friday February 24 when flash Eurozone HICP (CPI) rose 0.1% to 0.8% rather than being unchanged at 0.7% as the consensus expected or even falling 0.1% to 0.6% as a minority of f

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