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here i have described news releases.
What are the main versions?
When the news is negotiated, you must first know what publications are expected this week. Secondly, it is important for you to know what data is important. In general, these are the most important economic publications for each country:
1. Interest rate decision
2. Retail sale
3. Inflation (consumer price or producer price)
5. Industrial production
6. Business Climate Surveys
7. Consumer surveys
8. Trade balance
9. Manufacturing Surveys
Depending on the current economic situation, the relative importance of these versions may change. For example, unemployment this month could be more important than business or interest rate decisions. Therefore, it is important to know what the market is currently focused on.
How long does the effect last?
According to a study by Martin D. Evans and Richard K. Lyons, published in the Journal of International Money and Finance (2004), the market could continue to receive or respond to press releases in hours or even days after its publication. The study found that the effect on return on investment usually occurs on the first or second day, but the impact seems to persist until the fourth day. The influence on the order flow remains very marked on the third day and can be observed on the fourth day.
Anyway news are the keys of success and candlestick pattern too so you also need to understand it.