Tier-two data: the releases that move specific pairs
Posted: Sat Oct 31, 2026 7:21 pm
Calendars highlight the big events, but smaller releases can move particular pairs more than expected. Examples include retail sales in Australia, trade balance data in New Zealand, consumer confidence in specific countries, and regional manufacturing surveys.
Because fewer traders watch them, the liquidity at the time can be thin, and the reaction may be sharp relative to the importance of the data.
A scalper who filters only for high impact events can be caught by one of these. Building a custom list of releases that matter for the pairs traded avoids surprises.
The method is empirical. For each pair, review a year of tick data around all calendar events, measure the average move and the spread widening, and rank them. Include those that exceed a threshold in the filter, regardless of the label.
The list will vary by pair and should be updated over time as the market's focus changes.
Also consider events in the home country of each currency during its local hours, which may fall during off-peak times elsewhere.
Which lower-tier releases have produced notable moves in the pairs being traded?
Because fewer traders watch them, the liquidity at the time can be thin, and the reaction may be sharp relative to the importance of the data.
A scalper who filters only for high impact events can be caught by one of these. Building a custom list of releases that matter for the pairs traded avoids surprises.
The method is empirical. For each pair, review a year of tick data around all calendar events, measure the average move and the spread widening, and rank them. Include those that exceed a threshold in the filter, regardless of the label.
The list will vary by pair and should be updated over time as the market's focus changes.
Also consider events in the home country of each currency during its local hours, which may fall during off-peak times elsewhere.
Which lower-tier releases have produced notable moves in the pairs being traded?