Stay connected, keep track, stay alert to the most critical events and economic releases/economic calendar for your forex trading with the easy tool and navigation.
Experienced traders evaluate upcoming economic developments on a daily basis in an effort to anticipate the movement of a specific currency pair. This is known as macro analysis. In most cases, they are far ahead of the announcements of important events and take action in a timely manner, so that by the time a particular statement is made, they will already have an estimate of the value of the currency pair in question. Having an economic calendar at their disposal is a simple, yet effective, approach for traders to keep track of information derived from events, news, or remarks. By using such an important trading tool, traders are able to keep track of significant economic and non-economic indicators, which may offer hints as to the direction of the market, as well as be aware of all market conditions and movements.
Foreign exchange Indicators are divided into three areas based on their influence on the economy and, therefore, the amount of volatility they may generate. Each economic calendar platform has selected its own method of grading the economic indicators, which is detailed below. Investing.com has created its own economic calendar, ranking signs according to the amount of volatility they are likely to produce in the market.
Traders often compare current-period results with those from the previous period, while also taking into consideration expert projections for the particular data. By combining these three statistics, traders can assess if fresh data disappoints or surpasses expectations, which will help them decide how to proceed in the market moving forward.
Economic announcements and political news may also cause a movement in the direction of a specific currency pair, often in as little as a few seconds after they are made. A trader who makes use of the economic calendar may be able to identify potential changes in the market sooner and respond more quickly than other participants in the market.