Speaking as just a normal retail trader without any inside knowledge or connections, i.e. no secret handshake deals to get the news the day before like we all know happens, I am of the opinion that you really don't need the news. Keep in mind that I have traded right as the major 0730 CST reports are being released, riding the spikes, so this isn't an idle opinion. I've documented this here on elitetrader in my journal. I used to have bloomberg radio up constantly just prior to reports and trade off of it, but I quickly learned that whatever trading decisions I made, I would have made anyway based on the chart pattern, S/R, and volume. I don't care about the news anymore, other than to be aware of the time. Being aware of the time is very important. Also be aware that this type of trading isn't for the faint of heart. You must be nimble. You must take profits quickly. Trading the retracements, 15 - 30 minutes after a major market moving 0730 CST report is probably the best decision.
thanks. in general i wonder how often computers crash or the program cannot be deleted after a trial version ends. perhaps a thread is needed to discuss this issue?
The official response is that they hire so good analysts that their forecasts are mostly right. The conspiracy theory answer is that they hire companies to make their macroeconomic analysis. Most of this companies are owned, or at least have a close relationship, with top economic officials.
Some data is available in advance (sometimes far in advance) to paid subscribers. e.g., Michigan sentiment.