Forex calendars help traders monitor what will be published in the market and prepare or adjust trading plans accordingly。

The Forex calendar is one of the most important tools for traders and investors to gain an advantage when trading in the financial markets, containing a schedule of important news and data releases related to various sectors and economies.。Such information can help traders analyze fundamentals that can have a significant impact on markets and asset prices。

However, some traders prefer to ignore the forex calendar, despite its huge potential to protect them from unpredictable market movements, as well as the negative impact of potential losses that may occur after the news release.。Often, traders who ignore the importance of forex calendars are either technical traders who focus only on technical analysis or beginners who are completely ignorant of the situation。In this article, we will explore the benefits of using a forex calendar and how to use it for trading in Admiral Markets。

Introduction to Forex Calendar

In general, Forex calendars basically summarize the exact dates and times of important announcements and economic events for upcoming trading sessions.。

In forex calendar, each news publication contains several components that can be used in analysis。Details are as follows:

time and place

The Forex calendar contains the following two basic information:

• The time of publication is based on the local time of the trader.
  The country of publication shall be the country of origin of the announcement.

Importantly, forex calendars contain a wide range of data for various industries that may affect a country's or the global economy.。Therefore, you can choose to focus on specific assets or areas related to your trading。For example, if you trade EUR / USD, you will want to precede the economic calendars of the US and Europe。

Importance level

Different news has different importance to the market。While some can significantly affect prices and cause huge fluctuations, others have little impact。To help you find news that is relevant to you, the financial calendar uses a different color on each press release。

The importance level is displayed in the following colors:

• Green: Less relevant
  Yellow: moderately correlated
  Red: highly correlated and may cause greater market volatility

News Description

Each publication is also accompanied by a short description to help you judge the relevance of the data to your transactions。For example, ECB Christine Lagarde's speech may be highly correlated with euro traders, but less correlated with other traders, so you need to evaluate your portfolio and focus on relevant factors that may directly affect your trading。

Forecast statistics and previous results

The economic calendar provides information on upcoming and past results。Combining these two results, you can evaluate the difference in the data and compare it with the market consensus, allowing you to track market trends in real time and benefit from the opportunities highlighted by the Forex calendar。

When to open a position

Economic calendars can be used and interpreted in a variety of different ways。The upcoming schedule and previous statistics provided by the calendar can definitely help you position yourself and find the best time to enter the market。You can use the following methods:

• Expected results: In this approach, traders will open positions before news releases based on market consensus。This method is more suitable for swing traders, but is not recommended for short term traders.。
  Buy / Sell Method: Traders take advantage of the volatility caused by the press release and place orders into the market at prices above or below the current market price at the same time as the press release.。
  Pure Performance Tracking: Trade based on announcements to benefit from the impact of news and price direction caused by new fundamentals。
  Wait: Once the impact of the news has passed, you can follow the previous trend or follow the new trend triggered by the news release。

All in all, you can open positions before, during, or after the news release to make a profit, just make sure to study each option more thoroughly to determine which is best for you。Another option recommended by Admiral Markets is not to open any positions in unpredictable situations, which is also a wise move to avoid unnecessary losses and high volatility。

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Global Economic Calendar Indicators

Forex calendars contain many economic indicators that can be used to understand the possible impact of news releases on specific currency pairs。The following is a list of indicators that are considered to have a significant impact on the market:

United States Indicators

About the U.S. labor market:

• Jobless claims, reflecting new jobless claims and updating totals
  Unemployment rate, showing the proportion of unemployed citizens in the country
  NFP (non-farm employed population)

Macroeconomic indicators to measure economic growth:

• GDP (Gross Domestic Product), a measure of the total output of goods and services in the U.S. economy

Productivity indicators:

• ISM manufacturing and non-manufacturing indices involving inflation and conditions that reflect the health of the market
  Industrial production data, showing production capacity used monthly
  Durable goods orders, showing orders placed to the country's manufacturing firms

Consumption measures:

• Retail sales, a direct reflection of consumer spending and confidence

On inflation:

• Consumer prices, which measure the prices of a range of goods and services between consumers
  Producer prices, which reflect the prices of commodity producers

For trade data:

• Trade balance, reflecting the difference between a country's imports and exports of goods and services

On monetary policy:

• The Fed's interest rate decision
  Federal Open Market Committee (FOMC) Minutes
  Remarks and Decisions on the Fed's Monetary Policy

European indicators

ECB calendar:

• ECB Monetary Policy Meeting and Speech

On inflation:

• The Eurozone Consumer Price Index (CPI) provides an estimate of inflation in the region
  employment index

Regarding EU activities and production:

• German manufacturing orders
  The German IFO Index, which represents the level of economic activity
  ZEW indicator, basically similar to IFO, but related to banking

Japan Indicators

• Inflation and GDP indicators
  BOJ (Bank of Japan) Monetary Policy
  Interest rates and publication of minutes

Conclusion

The economic calendar is one of the most important tools for many types of traders, it helps traders to predict upcoming announcements as well as possible market movements following news releases。Focusing on scheduled events before trading can help you avoid unexpected losses and make more informed decisions。So overall, this can be a key part of your trading strategy。

You can find economic calendars in most of the leading brokers such as Admiral Markets。The broker's calendar is completely free for all active users, so it is very convenient and easy to access。In addition to this, the broker offers a large number of other analytical tools and educational materials to provide traders with quality trading resources。

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Admiral Markets is a Forex and CFD brokerage firm,Since 2001, it has been committed to providing smart financial solutions for global traders.。The main services revolve around three key activities: learning, trade and investment。To this end, it has a number of registered subsidiaries, including Admiral Markets UK Ltd, Admiral Markets Pty Ltd (Australia), Admiral Markets AS Jordan Ltd, Admiral Markets Cyprus Ltd, Admirals SA (Pty) Ltd (South Africa) and Aglobe Investments Ltd (Seychelles), for global markets。