NFX Provides its client with the forex economic calendar which is helpful for investors and traders to monitor market-moving events, such as economic indicators and monetary policy decisions. Market-moving events, which are typically announced or released in a report, have a high probability of impacting the financial markets.
The economic calendar is a must-use tool for fundamental analysis and detailed market analysis. NFX calendar displays a chart showing the days, weeks and custom dates of a particular period. Each day lists several market-moving events in chronological order, giving our clients and investors time to research and anticipate the specific release of interest to them.
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How to Use Our Economic Calendar
The data in the economic calendar are released in a chronological order, this helps you keep better track of events in accordance with the hours of the day, also data are automatically refreshed after every event takes place.
In the country column there are several flag icons which indicate the countries of the affected data. This gives you better insights on the currencies that will likely be affected within the day or custom period.
The volatility column represented in three colors - single green bar - which represents low volatility- denoting that low or neutral impact is expected from the news release. double orange bars - which represents medium volatility- denoting that moderate impact is expected from the news release. and lastly the triple red bars - indicating high market movement expected.
This refers to what the data release is all about. Such could be important speeches from government officials, national holiday etc.
The period of time to which a data is released for are often provided in some specific report such as trade balance, interest rate decision, manufacturing PMI, NFP and so on.
This refers to the data of the last release for an economic indicator, it is used to check the growth and progress of countries, a better result than the previous shows the nation economic health is getting better and vis versa.
This simply is an aggregated data from experts and analysts on what they expert the next report to be, its not the final report and often based on sentiments.
This is the new data release which shows the current market reports, in cases when a consensus was previously published a result greater than the consensus often means positive movement for the affected pair and a result lower than the consensus means negative for the affected pairs.
Why Use Economic Calendar
First and foremost, as a trader, it is a must-use!!!
Most people tend to believe only fundamental analysts need to use the economic calendar, this is so not entirely true. As a trader when analyzing and sorting out trade setups you have to check the macroeconomics data (such as GDP, employment report, inflation, important speech event…) of countries over the world, paying close attention to the countries relating to your chosen currency pairs as this reports tends to have major market effects and could lead to either a short or long term change in trends.
Utilizing this aggregated information, helps you avoid market surprises in form of reversed spikes, keeps you informed about high volatility trading period and thus helps you maintain a better trade and risk management.
More Than Just the Simple Data
Beyond the simple headline holds a great deal of information; when you click on any of the event headline a tab is opened which provides more in-depth review of the report, such as;
The description of the event - telling you about who releases the event and why the event was released. In some case links to the official report, charts analysis, historical report and more.
Customize Your Economic Calendar
You can customize our calendar to filter only the necessary information or data you need. This will help you stay focused on only what affects your trade pairs and save you the stress from the other unnecessary information;
On the top left corner you will find an option to select your desired timezone.
On the top right, you will find an option to filter the data based on currency or volatility; in this option you can either select to show reports/data from only events affecting your desired currency(s) and also you can choose to select the level of trade impacts. You also have the option to make multiple selection of several currency or volatility levels.