Live Economic Calendar 2023

For traders, decision making is all important. Setting up an investment goal and choosing a particular financial instrument to trade on can only bring the expected return on investment if you know what moves the market and when it is the optimal time to enter or exit your trades. Traders in the foreign exchange market pay close attention to global events by using a live economic calendar of the year 2023. By having the release schedule for each economic indicator, a trader can anticipate when major movements will happen.

In this article, we will walk you through what a live economic calendar is, its benefits, and the indicators that are used alongside a live economic calendar. If you’re ready, then let’s get started;

Live Economic Calendar

So What Is An Economic Calendar And What Are its Benefits?

An economic calendar can also be referred to as a forex calendar. It is designed to help traders and investors learn about forthcoming major economic information, such as the consumer price index, private medical insurance rates, and the nonfarm payroll. Even government reports are included. Live economic calendars operate on a much shorter timescale and they are generally released every hour or so.

Also, the economic calendar provides useful information on upcoming macroeconomic events by means of pre-scheduled news announcements and government reports on economic indicators that influence the financial markets. This will help you not only follow a wide range of major economic events that continuously move the market but also make the right investment decisions. Because market reactions to global economic events are very quick, you will find it useful to know the time of such upcoming events and adapt your trading strategies accordingly.

The top benefits of using a live economic calendar include:

  • Being able to manage risk effectively
  • Being in a position to plan ahead
  • Having access to extra, helpful features for customization

Indicators Used With the Economic Calendar

There are many tools that traders use to base trading decisions on. You can’t consistently make successful trades without knowing the current state of the market, using an economic calendar is an easy quick way to stay on top of fast-shifting markets. Even small events can cause brief ripples in the market and give a patient, observant investor time to slip in and make a tidy profit. This, in conjunction with sharing trade strategies or advice across the web, could give a relatively new trader that extra edge.

An economic calendar contains a list of many important economic indicators that are required to make an informed decision. Some of the economic indicators in an economic calendar should be:

Personal Income & Outlays

The Personal Income & Outlays Reports is often issued every month. The report provides insight into the behavior of consumers and the overall economic consumption. Personal Income & Outlays can be measured in terms of dollars. The report is considered extremely influential in terms of the economy’s future direction, even more than the CPI (Consumer Price Index).

Producer Price Index

The Producer Price Index is a weighted price index that is measured at the producer level or at the wholesale level, excluding imports. One of the most important figures in the reports is the Producer Price Index and Industry Index figure which factors in the final stage manufacturing price, minus volatile energy and food components. The report is a valuable indicator of inflation. In addition, it is an encouraging report that has a positive effect on the markets.

Productivity report

The Productivity report plays an important role in measuring the levels of output that have been achieved by organizations per labor unit, using previously released GDP (Gross Domestic Product) and labor figures. Gains in productivity have resulted in gains in actual or real income, increased profitability at the corporate level, and lower inflation. It can prove helpful to investors because it provides answers for complex calculations which can be difficult and time-consuming if done on its own.

Purchasing Manager Index (PMI)

The Purchasing Manager Index is a headline indicator for all the monthly reports issued. It is an indicator that is derived from 5 sub-indicators, namely the Production Level, Supplier Deliveries, New Orders, Employment Level, and Inventories. It is an important indicator for manufacturing as well as the economy in general. A rating of above 50 indicates that the industry and economy are expanding. A rating of above 42 indicates the GDP has a high chance of expanding, while a rate below 42 indicates a recession could be on its way.

The indicator is a timely and leading measure for GDP, especially when used together with more data-driven indicators such as the GDP (Gross Domestic Product) and PPI (Producer Price Index).

How To Read The Live Economic Calendar

Knowing how to read the forex economic calendar properly is important to maximize your trading prior to and following the most important releases. Checking the calendar every morning will allow you to familiarize yourself with the upcoming events that matter.

In default mode, the calendar will show you every piece of economic news coming out for the major economies. For many, that will be information overload, so you may want to customize the look.

Customizing Your Live Economic Calendar View

In order to customize the economic calendar, you can look at events in the past, today, and in the future by clicking on buttons such as ‘Today’ ‘Tomorrow’, and ‘Next Seven Days’. It’s advisable to change the time zone to what you’re most comfortable with; this is done by clicking ‘Time zone’. For most, this will be Eastern Standard Time or GMT-4/GMT-5. Next, click the ‘Currencies’ and ‘Importance’ buttons to look at the events that are most relevant to you.

Final Thoughts

Without an economic calendar, investors would hardly know when to act (and even still, what action to take!) For the budding investors (or long-time traders who want to be sure to stay in touch with the market) pay close attention to the information offered. If you are going to react quickly and effectively to the ever-changing currency markets, you will have to make absolutely sure you know what is happening, and when. It probably is not a bad idea to check a calendar several times a day and record any changes to the market, which would allow the savvy investor to react accordingly.

What do you think about the live economic calendar? Share your thoughts with us using the comment box below

Happy Trading!

Global Financial Economic Calendar 2023

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  1. Некулицы Иван

    Quite right! Idea good, I support.

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  2. I am sorry, this variant does not approach me. Who else, what can prompt?

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