icon icon Home
icon icon Accounts
icon icon Quick start
icon icon Symbols

How to work with Economic Calendar

Author
Arash
Arash

The Forex market or foreign exchange is a huge network of international currency buyers and sellers.

Author
Reviewer
Financial Expert
Author
Financial Expert

Financal Expert in Arongroups.

calendar Last update: 2 days ago
watch Reading time: 7 min

Trading in forex everything depends on conducting profitable positions, and you wouldn’t be able to do so without understanding the market infrastructures and the factors that move it. You need to understand market participants to learn about factors responsible for forex price fluctuation.
Without learning everything about the forex market, it is impossible to become a consistently profitable trader. You need to use every tool and information to make informed decisions. An economic calendar is one of the perfect tools to make trading decisions. An economic calendar Is the perfect source of information that is useful for opening fruitful positions. An economic calendar is filled with information about news, political, and economic announcements that can affect the market and change its course. If you are not ready to encounter southern price changes, you won’t be able to make profitable positions. In Aron Groups, we will discuss the importance of an economic calendar to help you become a profitable trader.

Table of Contents

What is an economic calendar?

 As the term suggests, an Economic Calendar is a report that contains useful information and is a scheduled date of significant releases or events that might affect the market direction of the price of your favorite currency pair.

Is it Raider it is recommended to use an economy calendar to create your strategy and plan your portfolio reallocations? Everything on the market, from chart patterns to price fluctuations, is affected by events listed in an economic calendar.

Read more: What Is Interest Rate? & How Does It Affect The Economy?

 Understanding the economic calendar 

Each country has its economic calendar, which includes a scheduled release of economic reports, including the unemployment rate, bank announcements on the interest rate, central bank reports, and economic surveys that show the overall sentiment of consumers and market makers. An economic calendar is a treasure that can help you seize fruitful opportunities and help you stay. Using a calendar, you will always be ready for an expected change of course in the market. The economic calendar helps you to enter or exit a position corresponding with an announcement of some events. Do you need to practice using an economy calendar to master it? Professional traders know how to read the market based on an economy calendar; they understand the nature of the announcement and decide about entering or exiting a position Before this scheduled announcement.

Understanding the economic calendar

Ready to use an Economic Calendar?

If you are convinced that using an Economic Calendar is to your benefit, you need to start looking for an economy calendar online. Many websites provide this information based on different regions and countries. After downloading an economy calendar, you can open it and enjoy the treasure. 

The first thing to do, whether you’re using an economy calendar or any other tool, is to study the market. You need to know what is going on in reading the financials. Market. You might be Trading commodities, currencies, cry, or stocks. In any case, the first thing to do is to research the market.

Next, you must identify economic indicators. There are macroeconomic events that really impact the market and the performance of the country. For example, when studying the GDP reports, PPI levels, or inflation rate, you are actually installing the health and performance of a country’s economy. These are important indicators you need to take into consideration.

 Don’t ignore the history. History tends to repeat itself, and no one can deny it. Now that you have researched the market and identified indicators, it is time to look at the history of the country to understand the magnitude of the impact of this chart of events on the market. The history will share useful secrets if you listen carefully.

Read the news. When using an economy calendar, tracking news releases and economic announcements is vital.

 Now that you have enough information, you can create your calendar. Let’s face it: The forex is a huge market that includes participants from all around the world, and you would then be able to study all countries’ economic calendars. The best strategy is to choose your favorite events and decide how much information you can process in a given time to avoid being overwhelmed and confused.

The last thing to do is to set an alert to get notified about new releases without having to look at the market all the time.

Read more: How To Manage Risk In The Forex Market

Ready to use an Economic Calendar

Learn how to read an economic calendar.

You can find economic calendars online, and there are different types of them available. That is why we have recommended you create your own calendar using the events that you are interested in. 

 Consider the trades you prefer to make and the asset classes and regions you are comfortable with to create your economic calendar.

Customize your own economic calendar to limit the amount of information you need to evaluate; by doing so, you will be saving time, and you can focus on other factors influencing the market.

Read more: Cryptocurrencies Market Future

Learn how to read an economic calendar.

Different types of economic calendar

As we have mentioned, you can create your own calendar concentrating on your favorite events. There are two types of events you can put into your economy calendar:

 A lagging indicators

This type of event has already happened, and now you are witnessing its consequences. For example, the interest rate proposed by a central bank is an event that has already happened, but now you can measure the output of it.

 A leading indicators

Leading indicators are events that impact the future of the market. Let’s say you have downloaded the result of an Economic survey demonstrating customer confidence and telling you about future customers spending.

Read more: How To Become A Successful Trader?

 What information does an economy calendar provide?

 You will find the following you will find the following information in an economic calendar:

 PMI

 PMI, which stands for the purchasing manager index, is a survey conducted by a company to evaluate the performance of the construction, manufacturing, and service sectors. The PMI is between 0 and 100; any number above 50 shows a promising economy.

 Retail sales

There are strong participants in the market, including central Banks. Still, when it comes to the retail sector, the number is greater, so when the retail sales increase, it can be considered a signal for an expanding economy.

Central Banks

 Central banks are the most influential financial institutions in the forex market, and it is recommended to study the economic announcements of the following central Banks:

  • Swiss National Bank (SNB)
  • Bank of Canada (BOC)
  • European Central Bank (ECB)
  • Bank of England (BOE)
  • Bank of Japan (BOJ)
  • Federal Reserve

The bottom line

 As a forex trader, it is wise to use every tool you can lay Your yandshOn. An economic calendar is a useful source of information that provides you with employment rate, inflation rate, interest rate, PPI, CPI, and many more economic news and announcements that can impact the market. 

 In order to create a solid and valid strategy, you need to be alert and consider the economic announcement and their influences on your favorite currency pair. When using an economic calendar, you won’t be surprised when events come out and will be ready to alter your position according to the influences of an economic release. 

Read More: Forex Calculator

Continue Reading
not-found
calendar September 13, 2023
Rate this article

Leave a Reply

Your email address will not be published. Required fields are marked *

`; // Select the inner section where the comment should be placed const contentWrapper = cardTemplate.querySelector('.gradient-card-content'); // Move the comment into the template contentWrapper.appendChild(comment); // Add the template to the wrapper wrapper.appendChild(cardTemplate); // Add the constructed wrapper to the comment list commentListWrapper.appendChild(wrapper); }); comments.forEach((comment) => { // Select the comment-body element const commentBody = comment.querySelector('.comment-body'); const meta = comment.querySelector('.comment-meta.commentmetadata'); const reply = comment.querySelector('.reply'); if (commentBody) { // Create a new
with a specific class const newDiv = document.createElement('div'); newDiv.classList.add('custom-wrapper'); // Add the desired class // Append the new
to the comment-body commentBody.appendChild(newDiv); newDiv.appendChild(meta) newDiv.appendChild(reply) } }); -->
No thanks
Table of contents
`; const initializeAccordion = () => { const accordionHeaders = document.querySelectorAll(".accordion__header"); accordionHeaders.forEach((item) => { item.addEventListener("mouseup", () => { item.classList.toggle("open"); }); }); }; if (newSingleBlogPost != null || newSingleBlogPost != undefined) { // add table of content after first child in base content const firstChild = baseContent.firstElementChild.firstElementChild.firstElementChild; // Convert the table of content HTML string to a DOM element const tempDiv = document.createElement("div"); tempDiv.innerHTML = tableOfContentHTML; const tableOfContentElement = tempDiv.firstElementChild; if (firstChild) { baseContent.firstElementChild.firstElementChild.insertBefore(tableOfContentElement, firstChild.nextElementSibling); } // Set accordion click after table of content add to DOM initializeAccordion(); // Select all h2 and h3 elements const headings = document.querySelectorAll(".base_content h2, .base_content h3"); // Add data-id attribute to each heading headings.forEach((heading) => { const text = heading.textContent.trim(); const id = text .replace(/\s+/g, "_") .replace(/[^\w\u0600-\u06FF_]/g, "") .toLowerCase(); heading.setAttribute("data-id", id); }); // Create dynamic table of contents const tocWrapper = document.querySelector(".tocWrapper"); tocWrapper.innerHTML = ""; // Clear any existing content let currentH2 = null; // Variable to store the current h2 being processed headings.forEach((heading,index) => { if (heading.tagName === "H2") { // Create a link for h2 headings const link = document.createElement("a"); link.href = `#${heading.getAttribute("data-id")}`; link.textContent = heading.textContent; link.classList.add("h2"); link.classList.add("scroll-tag"); // Create a list item for h2 const listItem = document.createElement("div"); listItem.classList.add("item"); listItem.appendChild(link); // Append the list item for the h2 tocWrapper.appendChild(listItem); // Set the current h2 to this heading currentH2 = listItem; } else if (heading.tagName === "H3" && currentH2) { // Create a link for h3 headings as a subitem of the current h2 const link = document.createElement("a"); link.href = `#${heading.getAttribute("data-id")}`; link.textContent = heading.textContent; link.classList.add("h3"); link.classList.add("scroll-tag"); // Create a subitem for h3 and append it to the current h2 item const subItem = document.createElement("div"); subItem.classList.add("sub-item"); subItem.appendChild(link); // Append the subitem to the current h2's list item currentH2.appendChild(subItem); } }); // Scroll to the section when a TOC item is clicked tocWrapper.addEventListener("click", (e) => { e.preventDefault() if (e.target.tagName === "A") { const targetId = e.target.getAttribute("href").substring(1); const targetElement = document.querySelector(`[data-id="${targetId}"]`); if (targetElement) { // Scroll to the element, but adjust for the header height const targetOffset = targetElement.getBoundingClientRect().top + window.scrollY - 84; window.scrollTo({ top: targetOffset, behavior: "smooth" }); e.preventDefault(); } } }); const tableOfcontent = document.querySelector('.table_of_contents'); const tagleOfContentTitle = tableOfcontent.querySelector('.title span') const translateTableOfContent = () => { const language = getLanguageKey(); if (language === "fa") { tagleOfContentTitle.textContent = "فهرست مطالب"; } else if (language === "ar") { tagleOfContentTitle.textContent = "جدول المحتويات"; } else { tagleOfContentTitle.textContent = "Table of Content"; } }; // فراخوانی تابع ترجمه translateTableOfContent(); // Copy logic // Localized messages for different languages const messages = { en: { initial: "Copy link", copied: "Copied!", }, fa: { initial: "کپی لینک", copied: "کپی شد!", }, ar: { initial: "نسخ الرابط", copied: "تم النسخ!", }, }; // Function to detect language and match messages function getLanguageKey () { const lang = document.documentElement.lang.toLowerCase(); if (lang.includes("fa")) return "fa"; if (lang.includes("ar")) return "ar"; return "en"; }; // Function to update button text based on language const updateButtonText = (button, state = "initial") => { const langKey = getLanguageKey(); button.textContent = messages[langKey]?.[state] || messages.en[state]; }; // Function to change button background color const updateButtonBackgroundColor = (button, color) => { button.style.backgroundColor = color; }; // Initialize button text and background color on page load window.addEventListener("load", () => { const copyButton = document.querySelector(".copy_btn"); updateButtonText(copyButton); updateButtonBackgroundColor(copyButton, "#f9c43e"); // Initial color }); // Add click event listener to copy URL and update button text and color document.querySelector(".copy_btn").addEventListener("click", function () { const copyButton = this; const currentUrl = window.location.href; navigator.clipboard .writeText(currentUrl) .then(() => { updateButtonText(copyButton, "copied"); updateButtonBackgroundColor(copyButton, "#cacaca"); // Change color on click setTimeout(() => { updateButtonBackgroundColor(copyButton, "#f9c43e"); // Reset color after 3 seconds updateButtonText(copyButton); // Reset text after 3 seconds }, 3000); // 3-second timeout }) .catch((err) => { console.error("Failed to copy:", err); }); }); // rate popup click function /** * Initialize popup functionality for rate popups. * @param {HTMLElement} trigger - Element that triggers the popup. * @param {HTMLElement} popup - Popup element to display. * @param {HTMLElement} overlay - The overlay element. * @param {HTMLElement} closeButton - Button to close the popup. */ function initRatePopup(trigger, popup, overlay, closeButton) { // Show the popup when the trigger is clicked if (trigger) { trigger.addEventListener("click", () => { setTimeout(()=>{ openModal(popup, overlay); },1000) }); } // Add event listener to the overlay for closing the modal overlay.addEventListener("click", () => closeModal(popup, overlay)); // Hide the popup when the close button is clicked if (closeButton) { closeButton.addEventListener("click", () => { closeModal(popup, overlay); }); } } // Initialize the rate popup const rateStarsWrapper = document.querySelectorAll(".rate_stars_wrapper"); const ratePopup = document.querySelector(".rate_popup"); const closeRatePopupBtn = document.querySelector(".no_thanks"); rateStarsWrapper.forEach((element)=>{ initRatePopup(element, ratePopup, overlay, closeRatePopupBtn); }) window.addEventListener("load", () => { // Bonus popup functions const popup = document.querySelector(".bonus_popup"); if (!popup) return; // Exit if popup doesn't exist let isPopupShown = false; let hasScrolled = false; // Listener for scroll event const handleScroll = () => { if (isPopupShown || hasScrolled) return; // Prevent multiple triggers hasScrolled = true; setTimeout(() => { popup.classList.add("show"); isPopupShown = true; // Remove the event listener after showing the popup window.removeEventListener("scroll", handleScroll); }, 0); }; window.addEventListener("scroll", handleScroll); // Close popup functionality const closeIcon = popup.querySelector(".close_icon"); if (closeIcon) { closeIcon.addEventListener("click", () => { popup.classList.remove("show"); popup.classList.add("hide"); // Remove the hide class after animation completes popup.addEventListener( "transitionend", () => { popup.classList.remove("hide"); }, { once: true } ); }); } // Suggested Article Popup Logic const suggestedPopup = document.querySelector(".suggested_article_popup"); if (suggestedPopup) { const timeout = parseInt(suggestedPopup.getAttribute("data-timeout"), 10) || 0; setTimeout(() => { suggestedPopup.classList.add("show"); const closeSuggestedIcon = suggestedPopup.querySelector(".close_btn_wrapper"); if (closeSuggestedIcon) { closeSuggestedIcon.addEventListener("click", () => { suggestedPopup.classList.remove("show"); suggestedPopup.classList.add("hide"); suggestedPopup.addEventListener( "transitionend", () => { suggestedPopup.classList.remove("hide"); }, { once: true } ); }); } }, timeout); } }); } -->