Yes it is very important for the forex market as it accelerates the volatility of the market.
The fact is news affects the way we view and act on our trading decisions. It is no different from currency trading.
However there is a noticeable difference with how news is handled in the stock market and the forex market.
Let's go back to our example above and imagine that you've heard the same report with the big one.
the software company filed for bankruptcy, but let's say you heard the report the day before
it was actually announced in the news.It makes the market go up or down anytime.