best source for fast economic data

This is a discussion on best source for fast economic data within the Economic & Fundamental Analysis forums, part of the Methods category; We all know there are certain economic news releases that hugely move markets. Being able to get this data as ...

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Old Aug 12, 2016, 2:17pm   #1
Joined Jul 2014
best source for fast economic data

We all know there are certain economic news releases that hugely move markets. Being able to get this data as soon as it is made public is vital.

For example, the US retail mom sales data was released today, supposedly by the US Census Bureau at 8.30am. Now the news was released as the markets moved straightaway but the US Census Bureau still had nothing on their webpage 30mins later.

My question is, how is data such as this "released" given that in this example it wasn't on their website. Where do institutional traders get their news from? Bloomberg terminal or some other dedicated source?

Where do you guys recommend for free fast news?
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Old Aug 12, 2016, 3:56pm   #2
Joined Feb 2002
Have a look at dailyfx.com. They have the usual economic calendar for advance warning but also their Real-Time News section in which they'll post a Heads-Up tweet say 15 minutes before a news release timing, then the news typically within the same minute of release time.
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Old Aug 12, 2016, 3:58pm   #3
 
ffsear's Avatar
Joined Oct 2006
www.twitter.com

Not being sarcastic, if you know what data release your after, its arrives seconds after the release.

I always use twitter for non-farm

Last edited by ffsear; Aug 12, 2016 at 4:07pm.
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Old Aug 17, 2016, 9:29am   #4
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breaktwister started this thread Cool tips guys, thanks.

Just out of interest I was also wondering how this information is disseminated from source? e.g. who or how do the Census Bureau make first contact with to release the data? Maybe they do just put it out on twitter and everyone else gets it from there?!
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Old Aug 17, 2016, 9:34am   #5
Joined Jul 2008
Eikon

It's the only tool I use for research and news data.
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Old Aug 17, 2016, 10:05am   #6
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timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by breaktwister View Post
. . . Where do you guys recommend for free fast news?
Hi breaktwister,
I think that the trick with trading - well, one of them at least - is to only pay for what you really need and use, as opposed to what is nice to have. Thomson Reuters Eikon recommended by forker looks like a top drawer quality product for those that need it. However, if all you need is to know the times of scheduled announcements to ensure you're not caught out by sudden large moves - then there are any number of perfectly good free resources. MyfxBook Economic Calendar is perfectly adequate for my needs. As ever, it's horses for courses.
Tim.
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