Economic Calendar: A Trader’s Best Friend

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As a trader, you know how important it is to stay on top of the latest financial news and events. One of the best tools available for this purpose is an economic calendar. An economic calendar is a schedule of upcoming economic events, such as data releases, speeches by central bankers, and reports of major economic indicators. This tool can prove to be a trader’s best friend.

Why Is An Economic Calendar Important For Traders?

There are many reasons why an economic calendar is so important for traders. These include:

  1. Avoiding market surprises: By keeping track of the economic calendar, traders can plan their trades around known events. This allows them to avoid sudden market surprises that can be devastating to their positions.
  2. Identifying trading opportunities: Significant economic events can impact markets in various ways, providing traders with trading opportunities. For example, a better-than-expected GDP report may lead to a sudden increase in demand for a particular currency, which a trader can capitalize on.
  3. Managing risk: Traders can use the economic calendar to monitor financial events that could pose a risk to their portfolio. For example, if an unemployment rate is expected to rise, a trader can adjust their portfolio to minimize the impact of the event.
  4. Making informed trading decisions: By knowing when significant economic events are scheduled, traders can make more informed trading decisions. They are able to predict how markets may behave following a particular news release, which can lead to more profitable trades.

What Information Can Be Found In An Economic Calendar?

An economic calendar typically lists important economic events, their dates and times, and the expected impact on the markets. This information can include the following:

  1. Dates, times, and locations of major economic reports or data releases
  2. Forecasts, data, and previous data related to economic indicators such as unemployment rates, GDP, consumer price index (CPI), retail sales, and manufacturing data.
  3. Upcoming speeches by central bankers, governors, politicians or economic authority figures.
  4. Holidays and trading halts.

Popular Economic Calendar Providers

There are many online providers for economic calendars, and most of them are free of charge. Popular calendar providers include:

  1. Economic Calendar
  2. Forex Factory Calendar
  3. Bloomberg Calendar
  4. DailyFX Economic Calendar
  5. FXStreet Economic Calendar

Tips For Using An Economic Calendar For Trading

Here are some tips for using an economic calendar to maximize its benefit as a trader:

  1. Look for trends: Through consistent evaluation of economic events, you can see trends that help you understand market behavior.
  2. Use multiple sources: Cross-checking data from different calendar providers can enable traders to avoid unexpected market volatility.
  3. Focus on “high-impact” events: Significant economic events have a more significant impact on the market, and traders should give them more attention when planning their trades.
  4. Use a reminder or notification system: To avoid any surprise market moves, utilize a system that notifies you whenever a major event is scheduled. This can help you stay on top of any sudden shifts in the market.


An economic calendar is a vital tool for any trader who wants to stay informed and make informed trading decisions. By using it regularly and paying attention to significant events, traders can minimize risk and maximize opportunities. As a trader, make sure to add this tool to your arsenal and take full advantage of its potential.

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This post contains affiliate links. If you use these links to register at one of the trusted brokers, I may earn a commission. This helps me to create more free content for you. Thanks!