Taking A Look At The Forex Calendar
A Forex calendar is a document that has all the important economic indicators and events. The document helps you in keeping track of the Forex estimates made by Forex experts. As a trader, you will find all the information that you need in order to predict the future.
Where to Find A Forex Calendar
There are many calendars provided by different brokers and financial organizations. All you need to do is to go online and find these calendars. If you are working with a professional broker you will definitely find a calendar on the broker's website.
You can also make your own calendar. Here you need to visit the online calendars and choose the most important indicators and paste them into your document. You should then choose the ones that are of importance to you and save. This will help you to act accordingly.
Indicators Found On the Economic Calendars
Indicators are the ones that give you information about a given survey or occurrence. Some of the notable indicators that you will find on the calendars include:
Consumer credit report: popularly known as CCR, this is a report that aids in estimating the changes in the dollar amounts brought about by the issuance of unsecured loans aimed at purchasing consumer goods.
Although, the indicator isn't a big market mover, it will help you in predicting the future spending levels of the consumers-if more loans have been given it means that consumers have more money to spend. The report also aids in informing you on the position that you should take when trading the retail sales and personal consumption reports.
Consumer confidence index (CCI): it's usually released at 10am EST of every Tuesday of each month. It's usually a survey of over 5,000 US households and it intends to show the spending power, financial health and confidence of the average American consumer.
The survey comes with three headline figures: the index of consumer sentiment, current economic conditions and index of consumer expectations. This survey is usually a big market mover since the confidence of the consumer is of great importance for the performance of the country as a whole.
How to Read The Forex Calendar
It's very easy to read the calendar as all the information you need to know is given to you in black and white. The information comes in different colors where red is the most important, orange is less important while yellow shows the information is not important at all.2
