Which news moves which currency
| News | What it is | Moves most | Usual first reaction |
|---|---|---|---|
| US CPI | Monthly US inflation, 8:30 a.m. New York time | USD pairs, gold | Hotter than expected tends to lift the dollar and weigh on gold |
| US Non-Farm Payrolls | Monthly US jobs report, 8:30 a.m. New York time, usually the first Friday | USD pairs, gold | Stronger jobs tend to lift the dollar |
| FOMC decision | The Fed's interest rate decision, 2:00 p.m. New York time, then a press conference | Every USD pair, gold | A more hawkish tone tends to lift the dollar |
| ECB decision | The European Central Bank's rate decision, 14:15 Frankfurt time | EURUSD, EUR crosses | A hawkish surprise tends to lift the euro |
| Bank of England decision | UK rate decision, 12:00 London time | GBPUSD, GBP crosses | A hawkish surprise tends to lift the pound |
| Bank of Japan decision | Japan's rate decision; no fixed release time | USDJPY, JPY crosses | Any hint of higher rates tends to lift the yen |
| RBI policy decision | India's repo rate decision, usually announced at 10:00 IST | USDINR | Moves are usually small; RBI also steps into the market to smooth the rupee |
| India CPI | Monthly Indian inflation from MoSPI, 16:00 IST | USDINR | Shapes expectations for the next RBI decision |
The key word is surprise. If economists expect US inflation of 3.0% and it comes out at 3.0%, the dollar may barely move, because the news was already in the price. A 3.3% print against a 3.0% forecast is what makes the candle. That's also why a pair can spike one way in the first seconds and reverse within minutes, as traders read the details and the guidance.
What the times in IST depend on
US CPI and jobs data come at 8:30 a.m. New York time, which is 18:00 IST while the US is on summer time and 19:00 IST once its clocks go back on 1 November 2026. Fed decisions at 2:00 p.m. New York time land at 23:30 IST in summer and 00:30 IST the next day in winter, so the 9 December decision is on 10 December in India. The UK and Europe change their clocks on 25 October, so for one week ECB and Bank of England times in IST move while US times don't. The forex market hours page shows every session in IST through the changes.
How to trade around forex news
- Know what's coming. Check the table above and the full economic calendar every morning, before you open a trade.
- Stay flat if you're not trading the release. Spreads widen just before big news and stops can fill well past their level. Closing or tightening positions before the release is the simplest risk control there is.
- If you do trade it, wait. The first move after the number is often reversed. Many traders wait for the first 5 to 15-minute candle to close and trade a break of its high or low.
- Size down. A news candle can be several times the normal range. Use a wider stop with a smaller lot size so the money at risk stays the same; the lot size calculator does the sum.
- Check your prop firm's news rule. Some firms limit or remove profit from trades opened or closed in the minutes around high-impact news. GFT, for example, caps profit from those trades at 1% of the account. See GFT rules.
News for USDINR and Indian traders
The rupee reacts to RBI decisions and Indian inflation, but also to the dollar's moves after US data, oil prices and foreign investor flows. RBI manages the rupee against sharp swings, so USDINR usually moves far less on news than EURUSD or gold. In India you can trade EURUSD, GBPUSD and USDJPY futures and options on NSE through a SEBI-registered broker, and USDINR contracts to hedge a real currency exposure; trading forex with overseas online brokers isn't allowed for residents. The USDINR live price page has the rupee rate and NSE contract details, the guide to forex trading in India explains the rules, and the currency strength meter shows how the rupee has moved against eight major currencies.
Live charts in India time: EURUSD, GBPUSD, GBPJPY, USDINR and XAUUSD. For positioning and risk mood, see forex market sentiment.
Trading gold? XAUUSD news covers how NFP, CPI and the Fed move gold in particular.