An Economic calendar is a chart that lists upcoming economic events and their volatility levels. Volatility levels indicate how likely certain events will be to affect market values. An economic calendar typically has a three-level scale for volatility. Level one events aren’t expected to have a significant impact on market values, while level two events are expected to affect markets moderately. Highly volatile events are closely monitored. By incorporating economic calendars into your trading strategy, you can avoid missing important events that could affect the market.
Inflation data can also be important. The Bureau of Labor Statistics (BLS) and Eurostat both publish inflation statistics. The numbers are important because they determine how strong an economy is, and help central banks determine whether they need to change interest rates. Listed events in an economic calendar are also good indicators, and can help you determine when to invest in a given currency. However, it is important to remember that the more economic data available, the more likely you are to make money.
Another useful feature of an economic calendar is its ability to show important economic events and news. These events affect the market in many ways, but most significantly, they are news driven. As such, the timing of economic releases is essential to the performance of currency markets, as significant news could drive significant market price movements. A good economic calendar can help traders plan ahead and take advantage of opportunities to profit from these news events. The good thing is that economic calendars can be found for free on numerous databases, including Bloomberg Terminal.
Another feature of an economic calendar is its ability to display data from various sources. These events include macroeconomic indicators, interest rates, inflation, and unemployment rates. The most recent data are listed on the top right, while old and outdated data are displayed at the bottom. In some cases, you will find the underlying data in an economic calendar that shows historical data. However, this isn’t always possible. The economic calendar must also be regularly updated to accurately reflect the current situation in the economy.
In addition to economic data, a forex trader can use pending orders to trade the economic calendar. These pending orders aim to capitalize on volatility after data is released. For example, a buy-stop order for EUR/USD at 1.1200 and a sell-stop order for the same asset at 1.1180 would protect his profit from being triggered by the data release. The stop-loss should also be set before using pending orders.
An Economic calendar provides a snapshot of world markets, including past and future economic events. The calendar is an indispensable reference book for all traders. It is especially valuable for traders who make their trading decisions based on news. A good economic calendar takes into consideration all important events, gathers expert forecasts, and enables the trader to plan ahead for changes. This is an essential part of currency trading, and the information contained in an economic calendar is invaluable.
The Economic Calendar provides market news, forecasts, and other key data on major events and indicators. By using this tool, traders can research upcoming events and develop an analysis of what those changes might mean for their trading portfolios. When these assumptions are correct, they can lead to profitable trading opportunities. And the best part is that the Economic Calendar is 100% free and easy to use. If you’re a forex trader, an Economic Calendar can help you make informed decisions, improve your trading strategies, and improve your results.
An Economic Calendar can be helpful for traders in many ways. By using the calendar to predict the market, you can use it to your advantage. You can customize the timeframe and time zone to match your trading strategy. Moreover, you can also select whether or not specific events will have a significant impact on markets. You can easily customize your Economic Calendar according to your trading strategy and needs. So, start using one now! You’ll be glad you did.
Not all Economic Calendars have great translations. Some have no foreign language support, while others offer multiple languages. The name of the country and events will remain in English. This is an issue with many other sites, but you can find a decent version of the Economic Calendar on Forex Factory and Econoday. Among them, FXStreet is the only one to provide an economic calendar in 14 different languages. Users can even set custom date ranges and get email alerts for important events.