What is Forex Calendar
Forex calendar chronologically shows upcoming economic and political events, statistics and analytics. It provides traders and analysts with the information needed to predict the long-term trends and currency quotes.
The importance of using economic calendar
Even day traders can be affected by large and sudden currency move.
So don’t make the mistake of thinking an economic calendar is just for long-term forex trading! Because any serious forex trader should be aware of the latest news. You need to quickly get information about significant events before getting into any trade.
Most of the Forex Calendar provides the following useful data:
- Forex trading times (which forex markets are open right now)
- The expected impact of an event on the market (low, medium or high)
- An indication of which currencies will be influenced the most
Plus you’ll see key data for the fundamental economic indicators: central bank rates, the dynamics of GDP, inflation, employment and many other important news items.
That’s because each forex rate depends on the state and prospects of each national economy, its current political situation, ongoing large-scale speculative operations, and many other fundamental factors. Currency rates and financial markets in general are very sensitive to these events.
So be sure to use this data to make informed trading decisions. Avoid unnecessary financial losses related to economic or political changes.