Top 5 Economic Calendars Every Trader Needs to Use for Success

Thiago Eleocadio
3 de dezembro de 2024
Forex Trading
0 Comments

It helps traders plan by highlighting changes in interest rates, consumer confidence, or other vital indicators. An economic calendar highlights major national and international events that are likely to impact the price & popularity of the global economy and financial markets and assets in real time. The schedule of upcoming economic events shown in the calendar can potentially impact all financial markets including forex, shares, indices, commodities, and bonds.

Also you should compare the actual results with the expected market consensus. Many events can be listed on an economic calendar, but some are more significant than others. MQL5.com calendar flawlessly transfers all the features from the desktop web version to the mobile web version.

United States Economic calendar

Calendars use a currency ISO code, a country flag, or a country ISO code to show the origin of each of the listed events. Cryptocurrencies markets are unregulated services which are not governed by any specific European regulatory framework (including MiFID) or in Seychelles. If news traders can guess correctly on the outcome of the news release, they can open the position immediately before the scheduled news and then close it within hours of the news. Traders rely on the economic calendar to give them information and to provide trading opportunities.

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Investing.com and baha.com are somewhat special in the sense that, while the calendars show Sunday as the first day of a week, a week starts with Monday in the custom dates setting of those calendars.
Due to the high level of global attention these events garner, traders will try to either hedge their risk or seize an opportunity during market turbulence.
If you trade based on fundamental analysis or employ a news trading strategy, then an economic calendar is an indispensable tool for you.
The securities quoted in the article are exemplary and are not recommendatory.

US economic indicator analysis

As for the best-performing calendars, things changed significantly. Trading Economics lost its lead, coming in the first place only in the US East Coast. MQL5.com took the second place, being the fastest-loading calendar in South America and Europe.

The app offered by FXStreet features a calendar with a simple layout but, for the most part, suffers from the same issues as the webpage for mobile browsers. You cannot switch the dates; you can only choose today, tomorrow, and next week. Same as the mobile web version, the app doesn’t show any revisions — only pre-revision values are displayed. Forex traders might need to browse through past economic data or look at the future schedule of events for a variety of reasons.

Following the economic calendar can be especially beneficial for a trader who wants to take a short position. If the trader guesses correctly about the nature of the announcement, they can open a position immediately before the scheduled announcement and then close it within hours. The research will help you in choosing the right Forex calendar for your analytical needs.

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Exporting to printer-friendly formats or spreadsheets allows for the further processing of the economic calendar data. When new data is announced for an indicator, simultaneously, the revised value (corresponding to the previous period) for the same economic indicator is reported. Most economic calendars display such revised information in a different color. There are also calendars that provide both revised and unrevised values for the trader’s convenience.

In the calendars that don’t support currency filters, a country filter has been applied to include Japan, the United Kingdom, the United States, and all the countries of the eurozone. The calendar month used for assessing the completeness of an economic calendar was April 2024. The Forex market is traded 24/7 and is largely driven by economic news and data. Each and every economic event is labeled with an impact from no-impact to low, medium and high impact as well as the previous, consensus and actual result. The dates of important releases or events that might have an impact on the movement of the values of individual securities or the markets as a whole are referred to as the economic calendar. The economic calendar is a tool used by traders and investors to plan trades and portfolio reallocations as well as to keep an eye out for indicators and chart patterns that might be influenced or produced by these events.

It chronologically describes several events that move the market each day. Economic calendars often highlight the planned publication of economic reports for a particular nation. If you trade based on fundamental analysis or employ a https://traderoom.info/defining-economic-calendars/ news trading strategy, then an economic calendar is an indispensable tool for you.

The success of your trading endeavors depends on your ability to correctly understand the forex economic calendar if you trade in the currency market. By choosing ‘Today’, ‘Tomorrow’, ‘This Week’, ‘Next Week’, or by using the calendar button to pick a custom date range, you may personalize the timeframe you wish to review. Economic calendars highlight critical financial events, such as central bank announcements and employment statistics. They list scheduled economic reports, like updates from the Federal Open Market Committee (FOMC) or inflation-adjusted interest rate decisions by bodies like the Federal Reserve or Bank of Canada. Economic calendars are important because they provide real-time updates on economic news and trends, allowing individuals to make more informed investment and spending decisions. These calendars are an essential tool for economists, traders, and business professionals.

An economic calendar allows traders to know what is going to happen when. By aligning it with technical analysis, traders enhance their investment objectives and manage risks effectively. Traders can access real-time data on economies worldwide, including insights into consumer confidence for the U.S. economy or Australian economy metrics. Dashboards often track indicators in nominal terms, showing market shifts caused by major agreements like the USMCA. Milan Cutkovic has over eight years of experience in trading and market analysis across forex, indices, commodities, and stocks. He was one of the first traders accepted into the Axi Select program which identifies highly talented traders and assists them with professional development.