Sponsored How To Make Money On Forex Using The Economic Calendar

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Forex Economic Calendar is one of the most effective tools for the market analysis, which is actively used by both newbies who just start their way in the world of trading and professional traders.

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The calendar reflects all the economic news, which may affect the course of currencies. Exactly during the release of the important economic news, volatility in the Forex market is getting increased, which allows traders to earn money at price jumps. The trader's task is to predict how the quotes will behave depending on the news related to the increase in unemployment, the decrease or increase in the level of production, the change in the key rate, etc.

Advantages of the economic calendar:

- it gives information when (day and time) the statistical data in different countries of the world will be published;
- it provides data on national holidays of different countries, that is, information about when the exchanges are not working;
- it ranks news according to the degree of its importance and shows the forecast for the report;
- it allows you to analyze how certain news affects the quotes of a particular currency pair.

How to use the economic calendar?

In order to start earning news trading, one should learn how to use the economic calendar. Let's look at the economic calendar from JustForex and discover what every filed means:

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1. Date – this field displays the date and time of the event.
2. Time left – shows how much time is left before the event. The mark "Done" means that the event has already occurred.
3. Event – this field displays the name of the event that will occur or has already occurred. Left click on the event you're interested in and the detailed information about it will appear on the screen.
4. Impact – this field displays the degree of influence of the event on the Forex market. There are three degrees of influence – Low, Medium and High.
5. Previous – here you will see the last value of the news for the previous period of time (the month or quarter).
6. Consensus – here the forecasted value of the event is displayed, which the participants of financial markets expect to see.
7. Actual – after the news is released, the actual value of it appears in this field.
8. Timezone – pay attention to the time zone that is displayed here. Usually, the time zone is set by default (GMT). But you can choose the time zone you need.

Important! Newbies mistakenly believe that the release of positive statistical data is always positively reflected in the quotations. In fact, the question is how much the expectations of traders are justified. It is necessary to monitor how the market responds to this or that news.


What news is the most important?


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First of all, we are interested in events marked with "Medium" and "High", since they affect volatility in the market the most. You can filter the calendar so that news only with these degrees will be displayed.
The following news has the greatest impact on the market:
- changes by the Central Banks of the key interest rates;
- fluctuations in employment and unemployment;
- gross domestic product marks;
- fluctuations in the consumer price index.



So, now you know how to use the economic calendar. Therefore, do not miss the opportunity, learn how to use this tool and discover new opportunities for earning. The economic calendar can be your key to new abilities.
 
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