Forex, or the foreign exchange market, is where currencies are traded constantly and with significant volatility. Foreign exchange, or forex, trading, is done by investors to capitalise on price changes in currency pairs. But to be a great trader, you must know how the latest economic news will affect the market. For this reason, a forex trader’s economic calendar is an essential resource.
Learn the value of an economic calendar and how to incorporate it into your trading strategy in this article.
What is Economic Calendar?
An economic calendar is helpful for those interested in the potential impact of upcoming government reports, central bank pronouncements, and other financial data on the foreign exchange market. Inflation and GDP figures, as well as other economic indicators and policy announcements, fall under this category. Foreign exchange (Forex) market participants use the economic calendar to plan for and react to potential market shifts....