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Does brokers/news services know release data beforehand ?
Hi there,
The last few days saw many fundamental data releases all over the world hit the markets. I used to trade news breaks while with my previous broker, but I am now with Oanda and for obvious reasons, it is not possible really anymore due to them enlarging spreads etc for the first few moments of the release. This however is not why I write this post.
I was just hoping to get some opinions about something else news related. I always have the News application provided by Oanda open, which by the way is excellent and extremely fast with the news releases, I used to watch the one of FXCM as well just to compare for a while. Anyhow, this high speed of reporting the news is exactly what I was wondering about.
How is it possible that 3 seconds and I tell no word of a lie, you can check this out yourself, within 3 to 5 seconds after the exact news release time, the news services presents something as large as a detailed 10 paragraph report on this event, surely it is not humanly possible to type so much so accurate so fast? This led me to the question, does these people perhaps have some privy that we as retail traders do not have.
Possible answers could be that perhaps they have some template already set for either way and just need to fill in the figures, but most of the time, the actual descriptions and reasons for the figures could not have been known beforehand especially with reports that contain sub figures which makes up an headline figure.
Anyhow, this is nothing serious for me at least, was just wondering how these services could have this high speed of reporting without any unethical doing in the background which if true, could imply mass irregularity in the industry and also abuse of traders, if they know it upfront then surely the brokers could also and some other bigger brothers…
Any opinions would be appreciated.
Happy Hunting
FX Sniper
__________________
"I do not need a compass to tell me which way the wind is shining."
They have the inside scoop, thats my take on it. There is no ways that they can publish those paragraphs in seconds, they have to. Or maybe they just make 2 statements going both ways and apply the one that moved in the direction of the market.
Does brokers/news services know release data beforehand ?
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