This economic calendar will keep you stay updated on planned events and news releases that will have an impact on currency values. Bookmark this page, and use it to plan your trading sessions. Paying attention detail will always help your trading.
If you are a fundamentals trader, the information in an economic calendar is vital to your strategy. Major US reoccurring events like the monthly release of the NFP report are released on a schedule, as are the notes from the meeting of the United States Federal Reserve. Traders need to know when these events will take place and be prepared to trade the volatility created by them.
Unplanned events can also impact the currency markets. As we speak, presidents around the world are in meetings, and there are press conferences following them. There are press releases that are going to affect the value of the GBP after Brexit. Every time the North Koreans fire a missile over Japan, currencies move.
While most of the planned meetings will be in an economic calendar, keep your head down and read sources of news that will teach you about events and how they will affect the fundamentals of the currencies you trade.
Besides an economic calendar, other tools are necessary to traders. Most of these tools included in the platforms you trade with, but it is also handy to have them outside of these tools to test your ideas. Here is a whole set of trading tools that you should know how to use – some of them require paid licenses.
The bottom line is that you need to know the type of trader you are, and once you have figured that out, you will see how an economic calendar fits into your strategy. Creating a trading plan, and understanding the risk associated with different trades will help you become a more responsible and profitable trader.
