How to read the forex economic calendar

What it is for

The economic calendar lists scheduled events that can move markets: inflation and employment data, central bank decisions and speeches by their members. It tells you when volatility may rise so you don't open positions just before a major announcement without realising.

The main columns

• Time: when the event is released. Always check the time zone shown
• Currency: the currency most affected by the event
• Impact: high, medium or low, meaning how much price is expected to move
• Event: the name of the data release or appointment
• Actual: the value just published, available after the release
• Forecast: the average analyst estimate
• Previous: the value from the last release, sometimes already revised

What really matters

The market reacts mainly to the difference between the actual and forecast figures, not to the absolute value. A positive number that is below expectations can weaken a currency.

Revisions to previous data, the tone of central bank statements and the price reaction in the first minutes, often chaotic, also matter.

How to use it in practice

• Filter for the currencies of the pairs you trade
• Mark the day's high-impact events before opening your chart
• Decide in advance whether to stay out, reduce size or trade after the release
• Remember that spreads and slippage widen in the seconds around the release

Where to find it

The GoForexHub economic calendar is updated in real time and shows each day's events with impact, actual, forecast and previous values.