What is the Economic Calendar?
It is the daily calendar which displays Live important Global Events and it’s result report that brings big market movements which impact your trading harder. You can analyze the past 15 years of economics calendar history for deep fundamental analysis.
How to trade with Economic Calendar?
Watch for important events that bring high volatility such as Gross Domestic Product (GDP), Interest rate, Unemployment Rate, Non-Farm Payroll report, Consumer Price Index (CPI), and it can be very helpful to know the exact date of the next central bank meetings or major news announcements. If you trade during these news releases, you can catch big profit/loss in a short time.
Whatever movement takes place in the financial market, it must always involved with huge money transactions. Because Money moves the market. Example: If the interest rate of the country increases, it attracts many foreign investments which brings more new money into that country. This makes that particular Country’s Currency Stronger due to more number of foreign investors buying their currency to invest in their banks for getting a higher interest rate.
Foreign Exchange Transactions are carried out mostly for the purpose of Imports and Exports.
How to use Economic Calendar?
1) Check the Economic news calendar every day morning or before you start trading. Bookmark this page on your browser now to view the Economic Calendars daily.
2) Don’t trade all the important news. Most of the new traders place a trade in the news time and wait for a big move, but nothing happens in the market. Because sometimes the market made enough required movements before the news release. Don’t make this mistake.
3) Trading News depends on this eco calendar is considered as the fundamental analysis. Always check Whether Fundamental or Technical analysis works well in your financial market.
Example: If you are trading the stock market, most of the time the market will move depending on the news report published often by that stock company. But, if you are trading the forex market, most of the time market will move depending on the technical analysis.
In the forex market, 80% of time technical wins, only 20% of time fundamental wins. Whereas in Stock or Share Market, 80% of time fundamental wins, only 20% of time technical wins especially in larger time frames.
How to read the Economic Calendar for Forex?
1) Check the time zone of the calendar whether it is displaying in your local time (GMT).
2) Whatever timeframe you trade, you must keep an eye on upcoming calendar events daily since they are likely to impact the financial markets including forex, shares, stocks, bonds, and commodities.
3) Look for the importance of the news event listed in the econ calendar. You can see low, medium and high importance news which creates a low movement, medium movement, and high movement in the market.
4) Check the timing of the news and prepare yourself to stay online during the news release. But don’t take any trades if you are not sure whether the calendar economic result outcome would be positive or negative.
5) Focus on your favourite country currency news to trade effectively on your account. Example: If you are trading US markets or USD currency pairs, you can watch for the United States news.
6) Before the release of the news results, You can see “actual, forecast and previous”. The Actual is the live latest result update, the Previous forecast is the historical result of the same event, and the “Forecast” is the economists’ forecast which is displayed depending on their experience, statistics, investment histories, Previous values, opinion, World Country’s economy indicator, risks, claims, frequency of trends direction, statement, analysts risk advice, inflation change, currencies strength level range, high authority team clients forecasts, legal rights sources for goods and order services track, Damage levels, investment objectives, market makers intuition, etc.
Top Economic News Event
- Central Bank Rate Decision
- Gross Domestic Product (GDP)
- Consumer Price Index (CPI)
- Employment Indicators (NFP)
- FOMC Meeting
- Consumer Sentiment Index
- Consumer Credit
- Manufacturing PMI
- Debt and Liability
- Deposit Accounts
- Trade Balance
- Bill Auction
List of countries publishing their economy reports
- United Kingdom
- United Arab Emirates
- New Zealand
- Hong Kong
- South Africa
- South Korea
- Czech Republic
- Sri Lanka
- Spain (El Salvador)