Economic Calendar
An economic calendar tracks crucial financial events, such as interest rates, employment data and GDP reports. Traders rely on it to predict market changes and make smarter trading decisions. It is an essential tool for navigating market volatility and planning successful trades.
How to use the Forex economic calendar?
- Consult daily: Get in the habit of checking the calendar at the start of your trading day. Look for high-impact events marked with a strong red or bold icon, as they are likely to cause significant volatility.
- Understand the indicators: Familiarize yourself with key economic indicators. For example, the Non-Farm Payrolls (NFP) report is known to cause significant movements in dollar pairs.
- Plan your trades: Avoid making new trades just before a high-impact event unless you are planning to trade on the news. Instead, plan your entries and exits around these events to minimize risk.
- Stay up to date: Economic events may change. A scheduled speech may be delayed or a surprise announcement may be made. Stay current with real-time news along with your economic calendar.