To help the trader, you will need an economic calendar, which carries reliable financial information through which you can analyze and predict asset prices. It is an indispensable tool for fundamental traders. For other people who rely only on technical analysis, it acts as an additional assistant.
Why follow the economic calendar?Events in the world strongly influence the financial markets. Forex is affected by: macroeconomics, employment rate, GDP, inflation. It is possible to move the market from a point from the speech of an ordinary political financier to a businessman’s tweet (how to raise or lower the price). If you follow the news and know the exact time and date of their release, then you can secure your investment and not lose your money.
How to use the calendar?
Events are shown in chronological order. The calendar is updated automatically. Updates are displayed at the top so you can focus on upcoming events.
In the calendar, you will find currencies that may be affected by upcoming news.
New events greatly affect the financial markets, and thus cause instability (fluctuations). Some increase the price increase, while others bring almost no effect. For example, for those involved in scalping, important news can tell you when to expect a price increase.
Is the very first tool for traders who want to be aware of all financial events and plan trades as accurately as possible.
The economic calendar