The Economic calendar is an efficient tool that contains up-to-date information about upcoming events in the financial industry. The data from the Economic news calendar helps traders to analyze the situation of Forex and make plans based on the information they get.
The Financial calendar from RoboForex displays all key events and highlights of the financial industry: new reports provided by companies, prices indices and financial indicators, the latest inflation and unemployment readings, dates and times of speeches and reports delivered by heads of global financial regulators, and other important information, which may be useful for traders when they work on Forex.
Traders use the Financial calendar as a tool for fundamental analysis. In this section, you will know how to read the Economic calendar and how to use it in the expanded mode.
How to use the News calendar to improve efficiency of your trading operations:
The Financial calendar allows traders to predict the way exchange rates may alter in the nearest future even before they start trading on Forex. It’s the News calendar that helps traders to provide insight into the overall market situation and see all potential opportunities it has to offer.
Forex market is influenced by a lot of factors and the key one is important economic news. Some traders in particular strive to trade during the periods when news and financial statistics are published, which are very essential for some specific industry development. In case the data from the Economic calendar is read and understood correctly, traders may get additional profit. However, other speculative traders are quite opposite and they prefer to refrain from trading on Forex when the news is published due to the higher market volatility and inability to predict changes of prices on the market during such periods.
Regardless of the approach, traders should follow all breaking news and up-to-date macroeconomic numbers if they want to succeed on Forex. This is exactly how the RoboForex Economic calendar is going to help them, because it contains the latest information about all significant financial events.