How to use a forex economic calendar

An economic calendar lists scheduled data releases and central bank decisions. These events cause many of the sharpest moves in currency markets, so knowing when they land is part of managing risk even if you never trade the news.

What an economic calendar shows

Each entry gives the time of the release, the currency it affects, an impact rating, the previous figure, the market forecast and, once published, the actual figure. Prices usually react to the gap between the forecast and the actual number rather than to the number itself.

Most brokers and financial news sites publish a free calendar. Check that the times are shown in your own time zone.

The releases that usually matter most

Impact ratings differ between providers, but these events move major pairs most often.

What happens to trading conditions

Around big releases, spreads often widen and liquidity can thin out for a few seconds or minutes. Stop orders can be filled at a worse price than requested (slippage), and prices can gap past your stop. Some brokers raise margin requirements before major events.