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Download the short printable PDF version summarizing the key points of this lesson. What is a Forex Economic Calendar? The Forex economic calendar is an event based calendar that traders use to keep current with upcoming financial information. An FX calendar contains information for future and past economic events of different countries and can clue the trader in on potential volatility expansions of certain currency pairs. Each currency is representative of the economic, political, and social stability of a country. In this relationship, changes in the economic indicators of a country are likely to affect the value of the respective currency.

Since every Forex pair consists two currencies, each pair represents the balance of for the two countries that represent the respective currency pair. Binary options trading platforms rating. For example, The EUR/USD currency pair consists of two currencies – Euro and US Dollar. The Euro is the currency that represents the Euro Zone, and the US Dollar represents the USA. Gold rate for today in forex.

In this scenario, if you are trading the EUR/USD Fx pair, you will be interested in the economic events that come from the Euro Zone and the USA, since they are likely to cause the highest volatility for the EUR/USD. When volatility appears, trends are likely to emerge, providing lucrative trading opportunities for the informed trader. Important Events on the Forex Calendar There are many events that are tracked within an economic market calendar. Some of these have a big impact on specific currency instruments, while others are not that important.

It is crucial to know which events are likely to cause volatility to expand vs. Other events that may have only a minor, if any impact on currency pricing. Below is a list of some of the most important economic data sets that are released on a currency trading economic calendar. Learn What Works and What Doesn’t In the Forex Markets.Join My Free Newsletter Packed with Actionable Tips and Strategies To Get Your Trading Profitable. Interpreting the Forex Trading Calendar Each economic data release includes several data points of concern to traders.

When you are looking at an economic announcement calendar, you are likely to see several fields that concern each economic indicator. Let’s take for example the annual Chinese GDP Growth after the 4 th quarter of 2016. This is what you will typically see in a Forex trading news calendar related to this event. Friday, January 20, 2017 Time (GMT) Currency Importance Event Actual Forecast Previous 02:00 CNY High Chinese GDP (Q4) (YoY) 6.8% 6.7% 6.7% On the top, you see the date of the economic event – January 20, 2017, along with the day – Friday. “Time” refers to the exact time of the announcement – 02:00 GMT since we have picked Greenwich Meridian Time as a base for our calendar.

Under “Currency” you will find “CNY” – the currency which the event is likely to impact. “Importance” reveals for how significant the event is for the CNY in terms of potential volatility. Then we see the “Event” field. Notice that it says Chinese GDP (Q4) (YoY). What do (Q4) and (YoY) stand for? (Q4) stands for the 4 th quarter of the year.

Every financial year is divided into four quarters: • Q1: January – March • Q2: April – June • Q3: July – September • Q4: October – December Since the Forex calendar says (Q4), this means that our release concerns the fourth quarter of 2016. Then we have (YoY). YoY stands for “Year over Year.” This means that we have an annual release, which covers the period of Q1, Q2, Q3, and Q4.

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The “Actual” field shows the current release data, which we have been waiting for. “Forecast” refers to the official expectations for the index – a result of the statistical surveys conducted by the Chinese government. “Previous” refers to the last Chinese GDP (Q4) (YoY) data release. So, according to the data above we can conclude that the Chinese government expected to hold the Gross Domestic Product in the country unchanged at 6.7%.