Table of Contents
Forex economic calendar represents a time Table with a list of major economic events during the week. Event risk refers to anything that has the potential to influence markets but that cannot be predicted in advance. Please use the presented economic calendar to track significant news events and economic data releases that have the potential to shake up the financial markets and have an effect on your trading.
The real-time forex economic calendar is below:
How to use the forex.in.rs forex calendar?
Forex traders need to use a forex calendar to map important events that can change forex market prices in a tight time frame. For example, Forex fundamental announcements calendar or the forex news calendar can sometimes influence the market for several days, weeks, or months.
Forex news calendars must always be adjusted to the trader’s current preference. A calendar needs to be filtered by date (pick day or week), filtered by currency (if you want EURUSD, then pick EUR and USD), and purified by impact news (low, medium, high). In addition, the Forex calendar needs to be adjusted by preferred time (usually, traders pick a local time). High-impact news can influence the forex market, and these events must be observed.
- Impact
Bars in yellow, orange and red represent the effect, a simple measure of the possible change that a data release can have on currencies. If a bar is red and lengthy, traders know it contains news that will likely affect the foreign exchange market. If this bar is short and yellow, the likelihood is minimal. We’re in the middle of the road in orange.
- Timing
The information is presented in a day-by-day timeline format. A checkmark will appear when new information becomes available in the “time remaining” column. Upcoming information is shown below the current status line, indicated by a light grey horizontal line. It’s easy to see how soon the next update will be available since the remaining time is shown. The calendar page will immediately reload once new information is available to ensure you don’t miss any critical updates. The option to have an audible alert whenever a new release is made is available.
- Actual/Deviation/Consensus/Previous
The Last figure represents the most recently available data for each economic calendar indicator (data release frequencies vary; they may be from the previous month or quarter, etc.). We also provide a Consensus figure, which represents the average opinion of our experts about the indicator’s value. The Actual reading is updated in real-time and shown to the right of the instability gauge as soon as it becomes available. Was it a pleasant or unpleasant surprise? We have a public consensus that is either green (indicating that the statistics are improved than expected) or red (indicating that the data is worse than expected) (poorer than anticipated). The Aberration ratio is a unique metric developed by FXStreet that quantifies the degree to which Actual data deviates from the Consent. Its value often floats freely between -7 and +7 on an open scale.
- Currencies
The nation’s flag from where the data originated appears next to its currency symbol. To check what currencies may be impacted today or in the following days, you may do a fast search.
You can learn about each key forex economic indicator in our article.
Structure of a forex.in.rs Forex Calendar
Forex or economic calendar differs from how economic indicators are graded on it. For example, a few websites prefer the time aspect to rate economic indicators, while some choose their impact on the economy. A few platforms also prefer using volatility to rate economic indicators.
The best thing about a forex calendar online is that it helps keep traders updated with all the economic and non-economic events. They update the tools regularly as it is online, and sometimes it is automatic and gives users 24*7 news and the latest updates.
Screenshot from the calendar:
Different websites can have different looks for their economic calendar. Still, a few things will be the same in all of them, including country name, indicator name, impact or importance of the indicator, current value, future or forecast value, past value, etc. These are the essential information you can expect from a typical forex calendar.
No matter what period you trade on, it would help if you made it a habit to check the forthcoming events on the calendar every day. This is because upcoming events have a good chance of affecting the various financial markets, such as forex, stocks, bonds, and commodities.
Because foreign exchange trading involves the simultaneous purchase of one currency and the sale of another, the Economic Calendar allows you to evaluate and contrast the economies driving each currency. Events on the calendar are given a “low,” “medium,” or “high” grade based on the expected degree of influence they will have on the market.
Even if you don’t trade based on news, you should still check the Economic Calendar twice a day: once in the morning, before you begin trading, and once more in the evening, before closing out your trades for the day. This will ensure that you know any high-impact or significant events scheduled for the following day.
Conditions in the market might become turbulent due to high-impact occurrences, particularly in the foreign exchange market. Be aware of any forthcoming economic data releases or events that might result in unexpected volatility and adversely influence your trading, such as any open positions you may have.
Because of the market’s heightened volatility, it is essential to keep in mind that trading around news events might result in significant slippage in a position. Be cautious about limiting your risk and steering clear of overexposure and excessive leverage! Avoid making the same errors in trading that other unsuccessful traders have made.
Utilizing Forex Calendar
Most forex traders use the forex calendar and develop their trading patterns with its easy usability.
The economic calendar aids traders in planning and reallocating their traders and portfolios. It also helps increase awareness about various indicator chart patterns, which can be crucial for a trader.
As a forex trader, you should keep yourself aware of economic events by eyeing the forex calendar. On that basis, you can take reasonable and thoughtful trades on your preferred currencies.
Reading the forex calendar is not enough; you also need to know how to implement it in actual trading. In addition, you need to know that a forex calendar available on different sites would have other mechanisms. Depending on user interests, it depends on the website and the events the website covers or targets. For example, many websites only cover the U.S.. based events in their forex calendar as the American currency is quite popular in trading.
Websites provide information on events based on various filters like geography, market cap, popularity, etc.
Different nations have different impacts on the forex market. Undoubtedly, the American dollar rules the market, having ‘Reserve Currency’ in many nations. Still, other national events of different countries also impact this arena. Some examples are the U.K. Brexit, the financial turmoil of Greece, etc. Such events have gigantic effects on the currency market, even though the ruling currency is the dollar. Even the U.S.. market gets impacted by this kind of event.
What Kind of Information Does a Forex Calendar Provide?
Read about crucial forex economic indicators in our article.
There are mainly two categories that a forex calendar highlights – reports on recent economic and financial events and prediction reports of future economic and financial events. These categories are crucial as they impact the forex market and strategies of traders worldwide, helping them take the right kind of trade at the right time.
Besides, indicators are also an essential aspect of a forex calendar. In indicators as well, there are two types based on the time prospect. Among them, one is called the leading indicator. These indicators typically change ahead of any gigantic or significant economic adjustment event. However, they change once the economic events of the pattern have already been witnessed.
The volatility factors enter here; based on that; the leading indicators can be separated into three groups based on their impact. The first group is the most relevant and includes the Gross Domestic Product (GDP) announcement, the Purchasing Manager’s Index, Unemployment rate, Initial Jobless Claims, Consumer Confidence Index, Durable Goods Orders, Home Sales, and more. They have a more substantial influence on the market as they are sensitive.
The second group is the group with crucial data. It includes information like the Beige Book report, Housing starts, Factory Orders, Business Inventories, Federal Budget Balance, Average Hourly Earnings, and more.
In the last group comes two indicators that reflect the average price stats for consumers and producers. You may know them by the Consumer Price Index and Producer Price Index.
In addition to these groups, the forex calendar shows volatility expectations using three colors. The red color indicates a higher impact, orange shows a medium result, and yellow shows a lower impact.
US Economic Indicators in Forex Calendar
Given that the United States economy is the biggest in the world, its economic calendar takes precedence over all others. Significant impacts on different fairs and exchanges may be seen when the most crucial indicators affect the dollar’s value.
The US Census Bureau, the US Energy Information Administration, the US Bureau of Labor Statistics, and the US Bureau of Economic Analysis are the primary sources for the most influential economic and market indicators. The choices made by the Central Backup generally declared through Governor Jerome Powell, are followed with great attention.
- GDP Growth Rate
- GDP Annual Growth Rate
- Unemployment Rate
- Non-Farm Payrolls
- Inflation Rate
- Inflation Rate MoM
- Interest Rate
- Balance of Trade
- Current Account
- Current Account to GDP
- Government Debt to GDP
- Government Budget
- Business Confidence
- Manufacturing PMI
- Non-Manufacturing PMI
- Services PMI
- Consumer Confidence
- Retail Sales MoM
- Building Permits
- Corporate Tax Rate
- Personal Income Tax Rate
UK Economic Indicators in Forex Calendar
The Bank of England, led by Governor Andrew Bailey, keeps an eye on the economic climate in the United Kingdom, the world’s sixth-largest economy. London, the nation’s capital, is the world’s second-biggest financial hub after New York City.
Since the UK economy is so significant, its fluctuations affect several markets and currencies. These are some of the most critical economic calendar indicators for the UK:
- Balance of Payments
- CPI Inflation Indicator
- GDP Growth
- Halifax House Price Index
- Household Expenditure
- Index of Production
- Labor Market Statistics
- Public Sector Expenditure and Debt
- Retail Sales
- The GfK Consumer Confidence
Australian Economic Indicators in Forex Calendar
Australia’s economy is one of the strongest in the world because of its recent expansion, and it ranks sixth in the quality of life index. Australia exports many of its goods to China and other Asian nations because of their demand.
The Reserve Bank of Australia is charged with assisting foreign central banks and the federal government of Australia. Philip Lowe is the current head of the RBA. The following are some of the leading economic calendar indicators for Australia:
- Balance of Trade
- Building Permits
- Business Confidence
- Consumer Confidence
- Corporate Tax Rate
- Current Account
- Current Account to GDP
- GDP Annual Growth Rate
- GDP Growth Rate
- Government Budget
- Government Debt to GDP
- Inflation Rate
- Inflation Rate MoM
- Interest Rate
- Manufacturing PMI
- Personal Income Tax Rate
- Retail Sales MoM
- Services PMI
- Unemployment Rate
Canada Economic Indicators in Forex Calendar
Owing to its abundant natural resources, the thriving technology sector, and participation in free trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the United States-Mexico-Canada Agreement (USMCA), Canada has one of the world’s strongest economies.
Bank of Canada statements, made during Tiff Macklem’s leadership, is among the most consequential occurrences. There are several important economic indicators on Canada’s calendar, but some of the more important ones are:
- Balance of Trade
- Building Permits
- Business Confidence
- Consumer Confidence
- Corporate Tax Rate
- Current Account
- Current Account to GDP
- GDP Annual Growth Rate
- GDP Growth Annualized
- GDP Growth Rate
- Government Budget
- Government Debt to GDP
- Inflation Rate
- Inflation Rate MoM
- Interest Rate
- Manufacturing PMI
- Personal Income Tax Rate
- Retail Sales MoM
- Unemployment Rate
How does Forex Calendar Impact the Forex Market?
A forex calendar contains information about important forex news. So forex news and events have an impact on the forex market. Usually, the difference between expectations from economic data and actual data has the most significant impact on the market.
The currency market is also run by political and economic factors that hardly impact a currency’s strength or value. A forex calendar gives information on all such events and helps predict minor or significant changes. As a forex trader, if you can understand and analyze such factors or indicators, you can also know how they impact a nation’s economy. You would also see how you can take advantage of these changes in your trading.
These indicators state how a currency would be valued at a certain point in time. Also, an economic indicator displays the nation’s health stats, which impacts the currency, so what’s better than analyzing it, right?
An economy’s total or overall economy is impacted by various events that tend to change rapidly. Online forex calendars are quickly updated to reflect such changes on a real-time basis, which eventually helps traders decide their trades.
Let us understand this concept with an example.
The trade balance between the two countries states how much demand and supply are between them. So, if the demand is higher for one country’s goods and services, that country’s currency would appreciate it. So, the other country’s citizens would have to pay more to buy goods.
Generally, a country with a significant trade deficit is said to have high volumes of imports of international goods or services. As a result, such a nation would have to sell its currency to purchase that other nation’s currency in the global market to balance the trade deficit. Therefore, it would impact the overall economy of that nation negatively.
A forex calendar shows such news, and traders take their trades accordingly, impacting the overall trade situation in the long term. Apart from this, other particulars like political change, international trade, economic data release, capital markets, economic outlook, etc., also impact a nation’s economy, eventually taking its toll on the forex market.
Economic reports are the main essence behind each precise move for a forex trader, and forex calendars are a medium for getting such reports and valuable information.
Many global events affect the financial markets, whether t, equity or commodity. Using and learning how to trade an economic calendar is e, even if you use essential fundamental or technical analysis tools.
An economic calendar is the calendar of forthcoming economic events that happen across the globe and is likely to impact various financial markets like currency, stocks, indices, bonds, and more. In any of the needs you trade, at any time, you have to keep yourself updated with the daily news. Being updated with significant economic events can have substantial effects even for long-term investors.
All the mentioned events are the drivers of volatility and significantly impact the forex market. However, TheNonfarmm Payroll Data has the most impact on the market when released on the first Friday of every month and states the U.S… jobs market data.
How to Trade an Economic Calendar?
There are three methods through which you can trade the economic calendar.
- Intraday Trading
- Swing Trading
- Momentum Trading
The economic calendar is just another trigger in the overall trader’s strategy. Usually, traders develop a system using a combination of economic events and technical analysis. For example, suppose your strategy based on technical analysis shows that security should be bought. In that case, the economic event can delay the purchase or be used as a catalyst to increase position size if the economic event follows the primary trend.
How to trade an economic calendar example:
Trader trade EURUSD. The price is 1.3, and the primary trend is bullish. The price is around the highest high in the last seven days. NFP economic report is excellent for the U.S… economy; the number of jobs in the U.S… economy has increased over the previous month. The trader enters a position right after the news because the economic event confirms the trend, and the trader’s plan is based on technical analysis.
The trader will be flat if the NFP report is bad for the U.S… economy. The trader will not trade because the technical analysis plan is not confirmed using fundamental analysis (economic event).
Why Should You Use a Forex Calendar?
It would help if you used a forex economic calendar as an additional trigger in your overall trading strategy. Except price and time from the technical analysis, you will need information about important news because important news can accelerate or decelerate major trends like catalysts.
Even though forex or economic calendars’ usage or importance is not underrated, many forex traders still are unaware of utilizing it for the best. A forex calendar is probably not the answer to all your questions, but it is the information giver you need as a trader to trade it in the market in your favor.
As a forex trader, your job is to understand the chart patterns and signals provided by the economic calendar and make your forecast and trading pattern based on it. It would help you know when to enter and exit the market to feel the most advantageous and control your losses. If any, you must synchronize your trading pattern with the economic moves or events and trade that information at the right time.
Forex calendar is also helpful for traders that are involved in short selling. For example, if you are aware of an economic event that will prove negative for a nation, you can sell that currency in the forex market to take advantage. To predict such moves, you also need to have enough skills to implement that at the correct time.
A forex trader needs to know three essential aspects of data given on the forex calendar in the forex market. Those three factors are the preceding period, the current period, and the analysts’ estimation of any specific data.
Keeping yourself updated with these data points can easily ace the trading and profit based on the forex calendar information. The forex calendar also helps traders know how much volatility would be triggered by this prospect’s event or report release.
Conclusion
Forex economic calendar track news and important economic events. Forex news has an important impact on daily and sometimes overall trends.
