Whether or not you decide to trade around news events, it is vital that you know when they are coming. Always be careful when trading around news events. When figures are released – especially if they are considered very important to the market – prices can become very volatile. Use the economic calendar to help you identify in advance which events in an upcoming day or week are most likely to affect theyou are trading. This may help you find new trading opportunities, flag up the need to protect or adjust existing trades, or simply alert you to times when you should stay out of the market altogether.
To work best, the economic calendar should be set to your local time – the time in the place where you are based. This means that you can instantly see at what time during your own trading day an event will occur. This saves you wasting time – and possibly making expensive mistakes – trying to calculate time differences.
To find out what news events are scheduled for a particular trading day, scroll down to the date you are interested in. Click on that date and a list of news events will open beneath it. Note that the number of news events included will vary from day to day.