Current Economic Events & Forex News Calendar
Why you should track Current Economic Events & Forex News Calendar?
In order to reduce risk when trading Forex markets you need to follow most important events/news announcements such as Gross Domestic Product (GDP) data changes as well as Purchasing Managerâ€™s Index (PMI), Initial Jobless Claims, Unemployment rate, Consumer Confidence Index as they generally reflect the overall situation in the economy.
Therefore, Current Economic Events & Forex News Calendar is a must have tool that needs to be checked daily in order to be prepared for sudden increase in either short-term volatility or general mid to long term market direction.
How to use it?
For best overview of the situation it is best to check upcoming news week ahead, however, the tool allows you to customise a specific timeframe that you are interested in in order to suit your personal trading style.
Customize it by selecting the time zone impact, currencies, and their type as seen in the toolbar below:
One of the best options is to filter by regions or specific countries to filter out less relevant information:
Once done, apply settings and you can have much clearer picture on what the situations is in the specific markets you are interested in.
Now you can see all the relevant information related to the Country and Currency you have selected.
Information available from left to right includes:
- Local Time accrding to your timezone.
- Country based on what has been previously selected in the filter list.
- Currency based on what has been previously selected in the filter list.
- Event and additional information about it with historical value available once â€žiâ€œ button is pressed
- Estimated Impact according to the importance of data released
- Actual result of the data released
- Forecasted data
- Previous data
Additionally, further in-depth article on economic calendar and how to use it is always available in our blog/trading resources section or looked-up using the search feature.
Keep in mind that this information should also be used in addition to other tools and types of analysis such as:
Read further about How to Combine Different Types of Forex Analysis
Now you should be ready to start using the Advanced forex news calendar and combine it with Forex Day Trading Strategies.