A forex economic calendar is used by traders to learn about upcoming news events to perform fundamental analysis better. An economic calendar acts as a resource that allows traders to learn about important economic information that is scheduled to be released in the near future. Such events include GDP, consumer price index, and Payroll reports. The calendar plays a critical role in helping traders to know the date of the upcoming central bank meeting or major news announcements.
The events on an economic calendar are graded low, medium, and high, depending on their likely degree of market impact. Learning to read the forex economic calendar also is important to maximize trading by following the most important releases. Traders often time movement into or out of positions to correspond either with an announcement of some event or with the heavy trading volume that often precedes a scheduled announcement. In default mode, an economic calendar will show every piece of economic news coming out for the major economies. Following the economic calendar can be especially beneficial for a trader for taking short positions. If the trader analyses correctly based on the economic calendar events, they can open the position immediately before the scheduled announcement for better results.
Economic calendars are available for free. These calendars vary from site to site, however, and although it is referred to as “the economic calendar,” the actual calendar listings depend on the broker and the events the users of the website are likely to be interested in.
Know more about upcoming calendar events at: https://trustcapitaltc.com/economic-calendar
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