Economic Calendar
Utilize Our Real-Time Forex Economic Calendar
Stay ahead of market volatility with our forex economic calendar, offering real-time streaming data to keep you informed about crucial upcoming economic events.
The Importance of an Economic Calendar for Traders
Governments and various sectors worldwide continually measure and report economic growth and data. For traders, a dependable economic calendar is an essential tool. Significant economic announcements, such as the US Non-Farm Payrolls, can cause substantial movements and price gaps in currency pairs like EUR/USD. For instance, a 50-pip price gap indicates a lack of liquidity within that range, preventing immediate trade entry or exit.
Managing Risk During Major Economic Events
Having trades open during major economic or geopolitical announcements can be highly risky due to the rapid onset of volatility. Analysts forecast economic data before its release, forming a consensus estimate. If the actual data significantly deviates from these estimates, it can trigger high volatility. A forex economic calendar with fast streaming data is crucial for anticipating potential price spikes.
How to Use the Forex Economic Calendar
At the start of each trading week, review the economic calendar for upcoming high and medium-impact events, identified by the impact icon next to each event name. High-impact events are marked with a red icon, while medium-impact events are indicated by an orange icon.
Understanding the Economic Calendar
- Impact Value: Indicates the potential market impact of a report. If the actual data significantly differs from the forecast, the impact is realized. If the data aligns with expectations, the impact may be minimal.
- Reasons for Checking the Calendar: Traders check upcoming economic events to either avoid open trades during potential high volatility or to capitalize on the volatility for favorable entry and exit points on trades.
- Key Values on the Calendar:
- Previous Month Value: Shows the results from the last month, which may be adjusted, potentially causing volatility.
- Forecast or Consensus Value: This represents the forecast based on economic analysts’ consensus.
- Actual Value: The reported data can cause volatility if it differs significantly from the forecast.
- Impact: Denoted by a colored icon (red for high impact, orange for medium impact) next to the event name, indicating the potential magnitude of the report’s impact.