Benefits Of Using Real Time Economic Calendar
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An economic calendar is a handy tool for traders and shareholders, as well as the media. These individuals and entities are reliant on financial calendars when it comes to tracking and monitoring the important events related to the economy. Most of the time, they use real-time or weekly calendars to check for significant or just about any market moving events that may affect specific markets or the global economy at large. These events may be anything from monthly jobless claims to debt auctions, factory orders, and other relevant activities featured in the economic calendar. These insightful publications are commonly found in high-profile sites as well as forex broker resources, which regularly update reports on a weekly or daily basis. Real time calendars are extremely beneficial, especially when monitoring market trends.

The economic calendar is the creation of economists whose job it is to forecast economic values and statistics based on the preceding month's historical data. With this information at hand, upcoming figures can be predicted so that the resulting figures can be compared with the consensus forecast. Each of these events/announcements has a specific importance factor in the economic calendar. The market becomes more volatile immediately after news releases if particular data has higher importance.

In general, data releases can be categorized as low, medium, or high impact. Low to medium impact data may cause some wiggles in the price, although few enough not to disrupt trading as much. High impact data releases, on the other hand, are especially noteworthy and could affect trading practices. Economic calendars help you monitor data releases, which dictate your next trading moves. When a high impact data release is coming out, for instance, you should not have any orders to enter positions close to the current price. Reason being, that price can be very erratic once data is released, meaning you are gambling when you jump into a trade as this high impact data is coming out.

Economic calendars include macroeconomic indicators (economic reports of high importance). These are published at fixed time intervals, and they illustrate the detail of a particular country's economic performance. Macroeconomic indicators show whether or not a country's economic performance has worsened or improved. These macroeconomic indicators include data releases on a country's GDP or gross domestic product, GNP or gross national product, employment rate, non-farm payrolls, inflation reports, housing data, and trade balances, among others.


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