Forex economic calendar
The Forex economic calendar is one of the most important tools for traders who trade in the foreign exchange market. It provides information about planned economic events that may affect exchange rates. This calendar is necessary for successful market analysis and making informed trading decisions.
What is the Forex economic calendar?
The Forex Economic Calendar is a schedule that displays the times and dates of important economic indicators, reports and events that may affect the financial markets. These events may include:
- Employment reports
- GDP (gross domestic product)
- Decisions of central banks regarding interest rates
- Inflation reports
- Trade balances
- Other macroeconomic indicators
How to use the economic calendar?
1. Event Selection: Traders select events that can have the greatest impact on the market. For example, the US Federal Reserve's interest rate decision often affects the dollar.
2. Analysis of expectations: Before the release of an economic indicator, traders analyze analysts' forecasts and compare them with previous values. It is important to understand whether market expectations are justified.
3. Trade planning: Based on the analysis, traders can plan their trading strategies, place orders to buy or sell currency pairs.
4. Reaction to events: After the release of economic data, traders analyze the actual results and their impact on the market. Quick response can provide an advantage in a rapidly changing market environment.
Main economic indicators
- Non-Farm Payrolls (NFP): The US non-farm payrolls report has a significant impact on the dollar.
- GDP: Shows the general state of the country's economy.
- CPI (Consumer Price Index): Measures the rate of inflation.
- Interest rates: Interest rate decisions by central banks have a significant impact on foreign exchange markets.
- Business Activity Index (PMI): Reflects the state of business activity in the manufacturing and service sectors.