Economic Calendar
19 hours agoAn economic calendar is a schedule that outlines important news releases or events that could influence currency exchange rates and the overall financial market. These events often have a considerable effect on financial markets and currency fluctuations.
The economic calendar helps traders anticipate upcoming events and their timing. The forex market is particularly influenced by announcements related to monetary and fiscal policies. Traders utilize the economic calendar to strategize their trades and to stay informed about any event risks that might impact their open positions.
BabyPips.com offers a real-time Economic Calendar that is accessible for free. Traders can view the economic events that affect their forex trading. The Economic Calendar on BabyPips.com allows users to filter by currencies, market impact, or trading session.
What is the Economic Calendar? One of the essential tools for a forex trader is an economic calendar for the currencies they plan to trade. A global economic calendar typically lists all relevant upcoming events for each currency on each trading day, including their potential market impact, release times, market consensus, and previous results. Once the data is released, it is quickly updated on the calendar.
Economic calendars generally focus on the scheduled releases of economic reports for specific countries. Examples of events featured on an economic calendar include GDP data, employment reports, central bank announcements, consumer sentiment surveys, and many other types of events.
The majority of the events listed fall into one of two categories: reports on past financial or economic events and projections of future financial or economic events. Traders depend on the economic calendar for information and trading opportunities.
Traders often time their entry or exit from positions to align with the announcement of an event or the increased trading volume that typically occurs before a scheduled announcement. Following the economic calendar can be particularly advantageous for traders who wish to trade based on news. If news traders can accurately predict the outcome of a news release, they can open a position just before the scheduled news and close it within hours of the announcement.
Recommendation
E-trading Desk
An electronic desk, or e-trading desk, is a trading desk that produces ongoing algorithmic price quotes for clients through various forms of electronic trading platforms and protocols.
East Caribbean Dollar (XCD)
The East Caribbean Dollar (XCD) serves as the official currency for eight nations and territories within the Eastern Caribbean region, collectively known as the Eastern Caribbean Currency Union (ECCU). These nations and territories comprise Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Montserrat, and Anguilla.
ECDSA
ECDSA stands for Elliptic Curve Digital Signature Algorithm.
ECN
An ECN (electronic communication network) is a technology-driven platform that includes various liquidity providers (LPs), both from banks and non-banking institutions, who consistently offer their pricing to the ECN.
Economic and Monetary Union (EMU)
The Economic and Monetary Union (EMU) refers to a set of policies designed to align the economies of European Union member states.
Economic Indicator
Economic indicators are crucial instruments that offer insights into the overall condition and trajectory of an economy. They assist economists, policymakers, investors, and businesses in analyzing and comprehending economic trends, performance, and possible future developments. Let’s delve into the various types of economic indicators, their classifications, and their importance in making informed decisions regarding monetary and fiscal policies, investment strategies, and business planning.