How to use the Economic Calendar?
The World Economic Calendar shows the following details about the event that is happening or has already happened and how it will affect the market and the currency’s price:
- Time: It shows when the event is taking place. You can select the date or current week from the top left corner. From the top right corner, you can choose your time zone. For example, if you are from US & Canada you may choose GMT – 8:00.
- Currency: The next row shows the currency symbol (USD/JPY/CAD) of which event will happen or has happened.
- Event: This row shows the actual event that is going to take place and what will be the effect of it on the market or the currency. If the color is “grey” that means it doesn’t neutral effect on the market. If it is “yellow” that shows that event has some effect on the currency and if the color is “red” that means the event is a high impact and can move the market very quickly.
- Actual: This shows the actual data that was published after the event or we can say the outcome of the event and is normally in percentage.
- Forecast: This shows the predicted data outcome of the event. The majority of traders plan their trades on the forecast data but it is not advised if you are a beginner.
- Previous: This shows the previous data from the last event.
By using our economic calendar correctly you can make informed decisions in trading.
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