The Economic Calendar

Keep an eye on market-moving events!

An economic calendar is used in order to track the important events of the economy. This is to check for market-moving events, such as monthly jobless claims, factory orders and debt auctions which are all found in the economic calendar.

It's to forecast economic statistics and values according to previous month historical data. Upcoming economic figures are predicted before they are announced and once announced the figures are compared to the consensus forecast.

Data releases are categorized into Low, Medium and High impact. Low and medium impact data may cause a few wiggles in the price but shouldn’t disrupt trading much. When a High impact data release is coming out "You shouldn’t enter any orders" near the current price. The reason is that price can become very erratic once the data is released, and it is gambling to jump into a trade right as data is coming out.

Stay familiar with the economic calendar and forex news from central banks, politics and local events that can affect country currency pairs you trade.