Bloomberg News adds currency news product

Bloomberg News unveiled Tuesday a new news product called First Word Foreign Exchange to provide customers news, information and insights into the global currency markets.

First Word FX provides Bloomberg subscribers daily event previews, as well as country-specific insights through market summaries. Produced by a global team of currency market experts and journalists, First Word FX provides coverage of economic, geopolitical, currency-specific news.

“Macroeconomic updates and currency moves are increasingly impacting the global marketplace, requiring market participants to quickly interpret and react to these events,” said Tod Van Name, Bloomberg’s global head of FX and commodities, in a statement. “First Word FX brings unique news and insights to our customers, helping them identify the drivers of individual currencies, while simultaneously monitoring the broader trends that impact the global markets.”

First Word FX complements the suite of FX functionality available on the Bloomberg Professional service, which includes news, data, pre- and post-trade analytics, execution platforms and communication tools, such as IB Dealing.

The foreign exchange market averages $5.3 trillion in turnover daily, up more than a third in the past two years, according to the Bank for International Settlements.