I agree. If you are not willing to pay for a real-time news feed like DJ Newswires or Reuters, MarketWatch is your best choice. They are really pretty good for a free site.
Joe Doaks and bocklanders, I use Marketwatch, but not for trading the news. I assume you are talking about the bulletins that pop up about economic data. I will pay closer attention to it. Have you tried Forex Factory? It is good for free service as well. I use it in conjunction with Bloomberg cable news. Forex Factory and Bloomberg seem to give me the data about the same time. Forex Factory is sometimes faster with early releases. Sometimes, like today, the price moved significantly sooner than I received the CPI data. I wonder where those people got their news from.
If you want "free", open an Oanda demo account and use the integrated news feed. Not as fast as paid Reuters/Thompson or DJ Newswires or Bloomberg terminal, but you will get it quicker than waiting fore that ubiquitous CNBC portfolio challenge to finish.
No, I've never used Forex Factory but I'll check it out. I subscribe to Reuters North American news feed and it is pretty good. The cost is much less ($65/mo) than DJnewswires or Bloomberg terminal so it is an option if you want faster news but aren't willing to spend a lot of money.