Economic Calendars
Economic Calendars
Use our economic calendars to keep up-to-date about the latest financial market news and trends from around the globe.
Tracking changing markets
Asset prices and exchange rates are based on currently known information. When new data appears, the prices can and will move. Although prices are in a constant state of flux within a certain range based on noise, they will experience dramatic shifts only when the latest data is revealed.
News about the markets can drop at any given time, but the fact is that a lot of them are actually scheduled events. Changes and announcements in monetary policy and new economic data are made on certain dates on the calendar. An economic calendar includes all of these dates and can be very useful indeed when it comes to trading.
Understanding economic calendars
An economic calendar lists important economic updates and events scheduled to happen. You can choose the time frame it displays. They can help you predict when the next update will occur. Certain online brokers and trading websites also offer economic calendars that include forecasts for such releases of economic data.
There are many different economic indicators that can trigger market shifts. These include consumer price indexes (CPI) which shows inflation in the USA, Japan, Europe and other developed nations. These can be used to predict potential price changes that could have a heavy impact on exchange and interest rates. The GDP (gross domestic product) indicates each country’s growth and can also have a large impact on rates. Other major influences include adjustments to monetary policy by such central banks as the Federal Reserve, the Bank of Japan, the European Central Bank, and the Bank of England.
Economic calendars are used when trading commodities and other trade instruments. For example, the USDA grains report comes out each month and its data can strongly influence prices on soft commodities and grains such as corn, soybeans, wheat, etc. Or if you trade in crude oil, you’ll definitely want to check out the EIA weekly petroleum report that comes out every Wednesday.
Almost every day, analysts across the globe release forecasts that include averages, highs, and lows. If the numbers are different from what people were expecting, the market could experience changes to reflect that new information. If the news has come as a surprise, expect some market volatility. This does occur, but only occasionally. If you’ve been watching the shifting prices in the currency pairs or securities you trade, you’ll probably notice that they usually break out in the direction of the new trend.
Market volatility can be expected after an economic update. This is the perfect opportunity to take advantage of the news! Economic data is generally released every month on a predictable schedule. For example, the US jobs report for the previous month is always released on a Friday early in the following month. Other data is released weekly, such as the Weekly Petroleum Status Report from the US Department of Energy. It’s essential that you check the economic calendars every day to ensure you’re fully informed while making trades.
How to use an economic calendar
You can use different strategies to take advantage of economic data releases. Technical traders will trade solely on the basis of the data, while other traders will add their own opinion to the mix. Use the best risk management strategies to keep trading losses as low as possible. For example, numbers trading and taking a position just before an important event or announcement is very high risk.
If you do choose to take up a positive before a big news release, make sure you incorporate illiquid market conditions into your risk management process. Stop losses often cause a lot of slippage when the market is illiquid. You can predict risk by looking back at the changes in an exchange rate after past economic reports were released.
A less risky strategy is to wait to trade and plan your strategy after the release of economic news. You should do this within 30 minutes of the release, however. Many traders will often be jockeying for a position within the first few minutes. You can avoid the initial fluctuations in prices until things calm down and the rate finds its new range before you begin trading. Occasionally, an exchange rate will head in one direction before consolidating and finding a new trend. Other times, the first move is a fake-out and the trend ends up going in the other direction. Use technical analysis to determine whether to expect negative or positive momentum in the market.
Thanks to the latest innovations, economic calendars are available to all traders. There are economic calendars relevant for futures, stocks, Forex, options, and other instruments that can help you make informed trading choices.
Making use of market news
InterMagnum economic calendars cover important financial events across the globe. We update them automatically to deliver key indicators, organized by importance. The market events we cover include jobs reports, non-farm payroll figures, inflation rates, etc. Contact us to learn more about how to make use of our economic calendars.
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