Quotes of currencies and other financial instruments may change several times per second. Their course is influenced by many factors. Of particular importance is the release of economic news. During their appearance, there is a high probability of strong jumps in the course, on which you can make good money. Therefore, each trader should follow the time of the release of news important for the market. The economic calendar contains all the most important economic data and reports from around the world. Based on this data, investors make decisions to buy or sell assets. This data can be the annual GDP report, unemployment data, oil prices, changes in interest rates, and more.
Real-Time Economic Calendar
Here is one of the most important components of market analysis. The economic calendar allows you to precisely adjust your trading strategy, organizing it taking into account upcoming market events. When used skillfully, an economic calendar will become a powerful and indispensable tool in the hands of every trader.
Key Aspects of the Economic Calendar
The economic calendar has many advantages, for example, it is constantly updated. It contains all the information necessary for a trader. It is really affordable, you can find it on many economic portals. As you saw above, it is really easy to use and analyze. In the same way, it offers information on three areas or time zones: USA, Europe and Asia. Finally, the economic calendar is important in order to design and develop accurate and safe investment strategies. The calendar includes the following news options:
- Date, time of release;
- The importance of information for the market;
- Current value of macroeconomic indicator and forecast for it.
The data are presented in a convenient tabular form. Using such a calendar is quite easy. Using it, the trader has the opportunity to plan his activities, and take into account the factor of future news in his trading strategy.
Economic news can be divided into several groups:
- Unemployment rate. An important indicator that affects the economy of the country as a whole;
- Indices of business activity. Demonstrate how intensively the business is developing. The value of these indices can greatly affect the quotes of a particular currency;
- Results of meetings of the Central Banks of the countries. Monetary policy change is an important factor that can dramatically reduce or increase the exchange rate;
- Unemployment targeting level. It has a powerful influence on the economic performance of the country, and as a result, on the exchange rate of the national currency.
There are other types of news. They can be distinguished into a separate category. For example, a Forex split calendar. It is more relevant for stock and stock index traders. Split – change of securities in circulation. It is carried out according to the decision of the board of directors of the company.
Split can be direct or reverse. In the first case, we are talking about dividing one share into several. Reverse split, on the contrary, implies the merger of several securities into one. Such actions lead to a change in the value of shares.
The Forex reporting calendar allows you to track events that affect the stock market and other financial instruments. Neglect of this data can lead to serious negative consequences. Predicting the direction of the course change at the time of the release of important news is quite difficult. Many factors must be taken into account, including technical analysis data. Only using the full range of tools can you succeed in trading. The only obvious thing is that the release of news can become a reason for serious excitement in the market.
A huge array of various economic indicators is published daily. Tracking them all does not make sense. It is necessary to pay attention only to those news that may affect the value of financial instruments interesting to the trader.
Hint For The Economic Calendar
When using the TradingView economic calendar, you must first select a country from the "Time Zone Settings" in the drop-down menu. A list of all upcoming press releases is displayed in chronological order.
The degree of expected impact they will have on the market is indicated by dots next to the release, if there is a red dot, this is the most important. By clicking on a specific event in each record, additional information about the events will open. This information will be useful to those who invest, and those who trade in the forex market and the stock market.