Forex Weekly Economic Calendars
Forex weekly economic calendars can be found on various sites, but what are they used for?
Well, these economic calendars are useful in the following scenarios:
1. When trading major economic announcements. Some forex trading systems trade announcements that are major, and have been shown to move the market in a big way in the past, and so are likely to do so in the future.
2. When trading forex systems where you need to exit a trade prior to a major announcement that may affect the currency pair you’re trading, to prevent you from being whipped up or down for the period after the announcement, and thus possibly causing you to be stopped out.
3. For fundamental analysis, which are taken into account by some systems. Many systems don't use fundamental analysis at all, but nevertheless still trade the announcements based on the price movements that occur following the announcement.
Getting The Forex Calendars
You can get a forex weekly economic calendar in a very useful format from:
Go to the “Calendar” tab, then click on “Global Economic Calendar For Week Of…” on the left, to get the calendar for the current week with the major announcements bolded. They are listed in GMT and EST (US time).
You can even download the file in excel format (still bolded), then add a column for you own local time by using excel to add the number of hours ahead of GMT that you’re in, to the GMT column, to get a column with your local time. This comes in handy.
This site also has a calendar of worldwide announcements on the home page, though the major ones are not bolded.
Together with your economic calendar, also check out forex resources to find out where to get useful forex tools, including world clocks for your computer desktop, in order to know when these announcements are in your local time!
Note that an announcement will generally move the market if the economic figures announced are different to the value that was expected, rather than falling on or around the expected figure.
The announcements from a certain country will generally affect currency pairs that have that currency in it more than it will affect other currencies, if at all.
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