An economic calendar is a tool that allows traders to make the fundamental analysis of financial markets based on economic news.
Knowing how to read the economic calendar correctly is essential to maximizing your success before and after the most important releases, such as NFP or any leading political and economic events that affect the currency.
The numerical values of indicators for navigating the market are fundamental. You can compare the numbers: if the Actual value is more significant than the forecast, this is good for the currency, and it is likely to go up in price; if the Actual value is lower than the Forecast, it is expected to drop.
In default mode, the calendar shows you all the economic news (regardless of the strength of the Expected Impact) related to the proposed currencies, stocks, and dividends.
We recommend that you customize filters for the most suitable indicators for your trading for convenient and efficient usage.
- By opening the economic calendar on the website, you can adjust the time zone. Coordinated Universal Time or UTC is the primary time standard by which the world regulates clocks and time.
We would like to point out that Metatrader servers operate in UTC+3 time zone;
- You can choose the trading instruments that you are planning on trading or the indicator impact. Moving between the tabs "currencies,” "stocks,” "dividends,” you can see economic news related to different trading instruments. In the "currencies" tab, only economic news related to currencies is shown. In the "stocks" tab, you can choose a symbol of the stock or the country from which the stocks took place. In the "dividends" tab, you can select the companies shown in the stock currency per share.
By selecting a particular instrument in the right filter menu, you’ll see the news related only to the chosen instrument.
For example, you've selected USD and GBP. From now on, only see the only USD and GBP announcements that tend to move the market.
- For a more detailed analysis, you can adjust the timeframe as well. You can look at the events in the past, today, and in the future by clicking on buttons such as “Today”, “Next week”, “Next month”, etc.;
At last, you can click on the news to see a description of the release and statistics for a previous couple of years, shown as a graph.