Get To Know The Forex Factory Site And Its Benefits For Traders – Forex Factory is one of the most popular forex brokers on the internet today. Their calendar provides great information for all types of traders. Using it will help you understand the impact of news on the market, which can show an increase in your account revenue.
So how do you use the Forex Factory calendar? To use the Factory Forex calendar, you will need:
Get To Know The Forex Factory Site And Its Benefits For Traders
Since there are not many articles that show how the Forex Factory calendar works, we have created this guide to help you. Below, we’ll explain how to use this tool, what each column means, and how to configure everything, including time zone, event filter, and news filter.
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The Forex Factory Calendar provides a list of press releases that affect the global economy. The lineup includes important news such as:
Different press releases were sent to different countries at different times and dates. You’ll see them on the calendar:
One of the best things about Forex Factory is that you don’t need to download anything to your computer to use the calendar. Then all you have to do is go to the Forex Factory Calendar website here.
Once you’ve done that, let’s look at the different calendar columns so you can customize them to suit your needs.
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The right part of the screen is the search area. Inside you will notice useful things. The first is the current month. If you wish to select a date from this month, you will be redirected to the area where the next forex news data program will be available.
You can also select previous days and you will see news and information posted on that day.
If you click on these links, they will give you today’s news or the news schedule:
In the currency column, you will see information about currency payments that will be affected by the publication of certain currency information. For example, let’s say the UK has decided to declare interest. This means that the British pound and other currencies will be affected.
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The impact column looks at the potential impact forex news will have on a particular currency and its peers. Here are the four colors used:
There is nothing very important in this column. In this column, you will see a list of news that should be published and their schedule.
The Details list displays a yellow folder icon. Selecting this icon will bring up a section with more information about a specific event. You can use this article to access more information on things like:
The actual column represents current issues that were recently published or updated. So if you look at the actual numbers, including US jobless claims, and the press release that says US jobless claims are 6,606,000, you should see that number in the actual column.
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After the actual column, you will notice the forecast column. This column shows what people were speculating before the news broke. You will see if these predictions are correct or not, and this is compared to the “real” information displayed in the real column.
It is important to understand both estimated and actual columns. Most traders look at the difference between these two lists and analyze them. For example, let’s say experts predict that the Reserve Bank of Australia will cut the interest rate by half a second to half a percent or two percent per month, if this is predicted, then traders can make decisions business or adjust their strategies. AUD. the actual number is output.
By clicking on the previous column, you will see previous issues of the news you are looking for.
The charts list is accessible by clicking on the chart icon. Once you have done this, you will see the best comparisons and forecasts based on news events and dates suitable for your needs. It can help to get an idea of the performance of a particular economic indicator over a period of time.
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One of the best things about the Factory Forex calendar is that you can customize the calendar according to your time. This way you will find current events based on your location, which is very helpful when it comes to organization. To do so, follow these steps:
You don’t have to worry about setting your time zone when you start using Calendar Factory Forex. This is because you must have a platform in your time zone. This way you will have a great time for every event. Once you’ve set your time zone, it should remain in your settings until you decide to change it again. That way, you won’t have to do this every time you use your calendar.
While it’s nice to see all the information, you’ll probably feel overwhelmed with all the data the forex calendar has to offer. So it’s best to stay organized and have the information you need right away. To avoid wasting time scrolling through news that you don’t like, you should consider setting up an event filter.
Using the events filter in the Forex Factory calendar will give you the ability to limit the news you see so that you can be informed of your preferences. If you only focus on certain currency pairs as a trader, you will want to set up your event filter to avoid being overwhelmed with unnecessary event information.
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Another thing you can do to save time is to only select news from the countries you want to follow. However, we recommend looking at all major economies as it is important to know what is happening and how major currency pairs may be affected.
You can access the latest news when you need it to have new information that can impact your business. To do that, follow the following steps.
The best way to interpret economic news is to have a weekly/future trading plan. Knowing what data to track is a great advantage in the market. The problem is that everyone is looking at the same data. However, not everyone makes money in the Forex market. Another way to be successful is to use the FX trading calendar correctly. Keep in mind that fundamental analysis in forex trading is just as important as technical analysis.
Any discussion of Forex volatility and its causes begins with the USD. As the world’s reserve currency, it affects all Forex panels like any other currency. Due to the dollar, currency pairs form two types: majors and crosses. Any major pair has USD in its sector. So it doesn’t matter.
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Only by separating pairs in such a simple way can traders avoid Forex volatility around major economic events. For example, one way to avoid wild swings in a trading account is to trade cross pairs during US news. After the Bretton Woods conference, the USD became the pillar of the global financial system. After all, Nixon’s shock in 1970 knocked it off the gold standard.
From then on, it was just a matter of trusting the US dollar for foreign investors to buy it. Today, the USD remains the currency of choice when countries accumulate foreign exchange reserves. This is a great privilege enjoyed by the USD, and other countries envy the status of the USD.
The Forex news calendar outside of the US is one of the busiest of all. Due to the role of the dollar, the entire market depends on the state of the US economy. In addition, coordination between markets means that the dollar will not only move in the Forex market, but also in other markets. other markets such as bonds, stocks, options. , etc. It is therefore a question of interpreting economic news.
In finance, everything is a question of interest rates. Consequently, interest rate announcements and Federal Reserve press conferences move the dollar. And, the Forex market. The Fed meets every six weeks. On Wednesday, after the London close, the Fed releases the FOMC (Federal Open Market Committee) statement, a document that sets out monetary policy.
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Once per quarter, or every two sessions, a press conference follows the FOMC statement. The Fed has never raised or lowered the fed funds rate without a press conference to follow.
Therefore, the Federal Funds Rate is the Forex news to watch. Generally, the higher the interest rate, the stronger the dollar. Forex market volatility increased dramatically during the Fed’s press release. Questions were asked by media representatives around the world. And, the president/president responds. Nobody knows the questions. And no one knows what the answer will be. Therefore, the USD makes big swings all over the charts. Ideally, it goes as well with long pants as with short pants.
Inflation refers to changes in the price of goods and services over a period of time. Generally, inflation or the Consumer Price Index (CPI) is released monthly. it is a much appreciated
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