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If your Forex trading method has you taking part in news trading, there is no question that an up to the minute FX calendar is a required tool. Fortunately, while there are daily Forex calendars that you can pay a premium price for, the Forex Factory news calendar is completely free for any trader. In this graphic, you can see how cleanly the new events and releases are laid out. You can see that the calendar at Forex Factory is probably one of the best Forex calendars you will find for free on the internet. In order to take full advantage of the benefits of Forex news, you should know how the economic calendar is laid out.
Let’s start on the left side of the image and cover what each column represents. The date column ensures you are looking at the proper economic events for your trading day. Because you can look weeks into the future, ensure this date is the date you are trading. You need to know when the economic release is happening and this calendar shows that time and can be customized to fit your own time zone. Not every release matters to every currency pair. Here you will see which currency will be affected by the release.
Forex Factory calendar represent news events that can shake the FX market. You should know the name of the report and eventually you will know that news releases such as Non-Farm Payroll and unemployment rate can rock the market and you won’t need the impact section of the economic calendar. Learn what each report means through the detail section. You can also view past economic releases for you news trading junkies.
Actual means the actual number, such as unemployment rate, that has occurred. Forecast is what was being expected. Previous is where you can compare the current news event with the last one. This can indicate whether things are getting worse or are improving. Graph simply plots out previous releases so you can visually see the decline or incline.