Economic Calendar

CalendarAre you a long-term trader? Then you will need economic calendar, which shows all economic events, such as feds and bank meetings. News related to any currency can move the market by a 1000 points in just a few minutes.

How to read economic calendar

Let’s say that you really like how EUR/USD is moving right now and you’re considering to place a trade with end of week expiration date. In this case, you should check the timeline of the trade. So you will look up current week if there are any news related to your trade. In the second column you can see about what currency is the actual event. If it is your currency, in this case dollar or euro, you should pay attention to it. Now you should check the importance. More bulls, bigger importance. If it is 3 bulls, you should really consider your trade because in this case it’s almost sure that the market will move significantly.

Actual vs. Forecast

If there are any numbers coming out from the meeting, for example unemployment rate there is always a forecast. Let’s say, that Germany will release unemployment rate today and they are expecting, that it’s going to be higher by 3.3%. Actual number was just released and it’s 2.5% Which is a good thing, because the unemployment rate did not grow that much as they expected. That means, the related currency, in this case euro will raise a little. Then we have news without any numbers released. In most cases it’s that someone important for financial market¬†(bank leaders, presidents) will speak about future plans or recent events.

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