Keeping track of the forex calendar is a critical part of any Forex trader’s daily routine. This is why Forex Factory has created a calendar that allows you to track all of the major events that are important to the currency market. This includes everything from the news to the markets.
Market tab on the Forex Factory website
Traders who use the Market tab on the Forex Factory website will be rewarded with a wealth of information. This invaluable resource offers access to charts of several popular trading instruments. It also provides users with the ability to view multiple time frames. Its interface includes a helpful legend. Its simple design allows for easy navigation.
The Forex Trend Analysis Tool pulls data from the calendar and displays the impact of future events. This is an excellent tool for new and experienced traders alike.
The calendar also shows a graph of historical data and trends. It can be customized to display only data points that meet your preferences. It is a good idea to check it daily. It helps you stay on top of major events.
The mini-charts give you a quick glance at the most important facts. You can also see the local open hours of the market. This feature is useful if you are involved in day trading.
Economic news monitoring section
Using the economic news monitoring section of the Forex Factory calendar can help you understand what is going on in the forex market. The tool can help you monitor the latest events, predict their effects, and make trading decisions.
There are many forex traders who closely track economic reports and political news. These events can have a significant impact on the value of a currency pair. You can use this information to anticipate changes in national economic policies. These may include adjustments to regulations, or shifts in government spending.
When a country experiences a change in political leadership, its outlook can change dramatically. This can have a negative effect on open positions. However, if you are aware of the news ahead of time, you can avoid these problems.
The economic calendar is one of the most important tools for monitoring financial events. Having a complete calendar can help you determine the number of events to expect. It is essential to stay up-to-date in a fast-paced market.
Customizations
Having a forex factory calendar can be a useful tool for traders to understand the news that affects the market. It’s a great way to keep track of upcoming events and make decisions based on accurate information. Depending on your time zone, it may be possible to customize the calendar to show only events affecting your currency.
The first thing you should do before using the calendar is to set the correct time zone. The site will automatically adjust for seasonal changes. If you aren’t sure how to do that, check out this tutorial.
Once you’ve set your time zone, you can start browsing. You can view a calendar for the last week, month, or year. The next month’s schedule can also be accessed.
You can also filter out certain types of news, such as Chinese Yuan-related news. You can also customise the appearance of your news block. You can view stories by category, popularity, and trader replies.
Currency pairs affected by upcoming forex news
Getting to know what currency pairs are affected by upcoming forex news can be a big help when trading. The markets are constantly changing and news can have a huge impact on the price of a particular currency. Those that understand how to trade the news are usually ahead of those who are just starting out.
The two main currencies that have been traditionally traded in the market are the dollar and the Japanese yen. The yen has been a reliable safe haven in the world’s financial markets.
One of the most important factors affecting the value of a currency is GDP, or Gross Domestic Product. This is the measure of an economy’s health. The higher the growth rate, the stronger the currency.
Inflation is another factor that can affect the price of a currency. Low inflation can cause central banks to cut interest rates and may lead to a weaker currency. The rate of inflation is measured by the Consumer Price Index.