On the foreign exchange market Forex is affected by many factors, one of them - the economic reports, speeches of politicians, sentiment index, calculated by universities, etc.Briefly, let's call it news.
News varying degrees of importance, impact on a particular currency, etc.Some traders are trading at the time of the news release, some on the contrary try to avoid them.In any case, it is important to know the time, the degree of importance, impact and value (if it is data) news.
Many sites have "economic calendar" section, but in most cases it is inconvenient to use, or the degree of importance of the event is reflected not quite true.In this review, I would like to consider the most competent version of the calendar.
It is located on the link:
First of all, we need to adjust the clock ,
to the news release time coincidedwith our time zone.
Hit the clock at the top of the page:
Further see settings
1) DST ON / OFF
Summertime - ON / OFF
Time Zone.Choosing the right (Moscow time GMT + 3)
3) time format
24 or 12 hour time format.
4) Next, click Save Changes to save the changes.
Settings are retained even without registering on forexfactory
On the calendar page, we see columns:
economic calendar consists of columns with information, which is not difficult to understand.The first column shows date and day of the week .In the second column - exit time news.In the third - currency, which influenced the news .Colored icons in the fourth column shows the degree of influence on currency .The fifth is a short description news.In the sixth - detailed description , to see that you need to click on the icon that looks like a folder.Next come the value of news: in the seventh column current (the value that brings the news), in the eighth column predicted value and the ninth - previous figure .
If the current value is displayed in green, it means that the results of the news turned out to be more favorable than forecast.If it is red, the worse the predicted values.Grey color means that the value of news coincides with the forecast.In the last column you can see a graph previous values for several years .
Also on the calendar are 2 buttons: «Up Next», which sends us to the nearest news, and «Filter» button, where you can configure filtering for the currency, the degree of influence and type of news.
1) Date - date
2) Currency - currency
3) I mpact - impact
4) Detail - more on news
5) Actual - Current value
6) forecast - forecast
7) Previous - previous value
8) chart - before schedule.
value difference of news on the degree
importance in the Impact column reflects the degree of news importance:
Red color - perhaps a strong influence
Orange - medium effect
Yellow - weak effect or no
White - not economic events (holidays, etc.)
the current value is displayed:
Green color - better than forecast
red - worse prognosis
gray - is same as
forecast return to the column that reflects the degree of importance of the news. red icon it reported a strong influence on the currency. Orange indicates average.Yellow on the weak or lack of effect.We should also be said about the gray color, it means the non-economic events: the various bank holidays or weekends.
If suddenly weekdays European banks have a rest, then, accordingly, it is not necessary to trade in the European session.In the market you will not see much activity and possibly lose time in vain.If the output of America, after the close in Europe as the market has nothing to do.In the Japanese mind the special holidays can not pay because they do not cause such a drop in market activity.
Influence of news on currency
Every trader must know that the news about the dollar, affect not only the dollar itself, but also in all currencies in including gold. on Euro News only affect the pair with the euro.In the event other currencies attention can not focus.In order of importance we ignore all the news, except those that are marked in red.
better not trade very important news for 20 minutes before and 20 minutes after the release. Do not try to predict the impact of the news.Ordinary person it is almost impossible.Therefore it is better not to go into the market, and sit and wait until all settled down.