How To Read Forex News In Economic Calendar
A forex fundamental news in economic calendar is useful for all the traders to learn about coming news events that can improve their fundamental analysis. This blog will offer you proper tips on how to read the news on economic calendar so that you can make your trading plan accordingly.An economic calendar is a very useful resource that allow all traders to learn about important up coming economic information/events. Those informations/evens can include GDP, CPI, NFP, Monetary Policy, Retail Sales, Core Retail Sales and many other important reports.
Such events on the calendar are shown as low impact, medium impact and high impact, depending on how strong the events will have an impact on market for particular or related trading pairs.
Why To Use Economic Calendar?
By using the economic calendar a trader will able to plan trades based on economic events. Which means you can ready yourself for potential movement in price. When listed events on the calendar occurs, it is expected to have a high volatility in the pair if released data is above, below the expectations and previous data.
The forex economic calendar allows traders to plan ahead for the upcoming market events. Take example, if a non-farm payroll (NFP) report is set to be released, then traders will know that this event has the potential to move the forex market highly, so awareness of the timings means you can plan your trades accordingly.
