I'm starting on a project that involves correlating and forecasting Forex time series to news releases. I'm aware of sources such as Thomson Reuter's machine readable news and Dow Jone's Newswire services. However, they both require expensive subscriptions. Does anyone know of any similar but free equivalent that I can use to develop a proof of concept?
I think the news releases do not have to be strictly real time, and some delay is fine as well but the timestamp is essential.
I think shouldn't have limited my question to just machine readable news which are preprocessed. What I'm interested in is more along the lines of Ransquawk's live headlines service which provides text-based news headlines updates. The text data aren't in a "machine readable" but that's fine as I can apply some simple NLP techniques on my side to extract information. The main issues is how to tap into these live feeds since most of them don't provide an API. And since what I'm working on is more a proof of concept, I think an archive timestamped news article can do as well.