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The economic calendar of events is the link between the trader, world events and the quotation chart. Every day, countries publish a mass of macroeconomic data reflecting the internal economic situation of states, hold meetings of the Central banks and speeches of heads and top officials. Statistics of the main and important countries for the Forex market are reflected in our economic calendar of events.
For ease of use, the economic calendar reflects the data in a structured way: you can set filters for news by importance, by country of events, by date. In addition, you can separately see the schedule of meetings of the Central Bank and publications of speeches of officials. Statistics are updated automatically and immediately after publication.
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How to work with the economic calendar of events?
If you just started tracking stock news in economic calendar of events, it is important to understand what you should pay attention to first of all and how to evaluate events. ForTrader.org magazine offers you some basic rules.
- Consider the importance of an economic event: they are the ones who have the most influence on the market.
- Especially highlight в economic calendar Central Bank meeting and speeches of their chapters, as they most fully reflect the state of the economies of the countries and the future monetary policy.
- Remember that at the time of publication of the indicator data, the market compares it both with the previous value and with the forecast. Moreover, the reaction of the price to the discrepancy with the forecast is always higher, because this indicator is already considered by traders as possible.
- The highest impact on the exchange rate has macroeconomic statistics of her country, i.e. For the dollar, data from the United States is most important. You should not exclude the secondary influence of indicators of countries that are active economic partners of the state of the currency that you are considering. Thus, China's production figures may affect the Australian dollar.
- For a start work with the calendar of economic events within the framework of fundamental analysis, we recommend choosing 1-2 currencies and, accordingly, countries for which you will follow. To do this, you can set the appropriate calendar filters. Keeping a complete economic picture of the world in mind will be difficult for a beginner.
- Follow the comments our experts regarding tomorrow's important events. At first, they will help you better understand the situation.
- Trading in the Forex market for fundamental analysis is quite complicated due to the amount of information, but effective for medium and long-term strategies. For intraday traders, ForTrader.org recommends combining the economic calendar forecast with technical analysis.
- We advise you to follow the recommendations of your broker regarding trading on the news.
Important! The items described should not be construed as a call to action or hard recommendations, but in most cases they will be true. The market situation always depends on a number of factors that should be taken into account collectively.