In financial world, the economic calendar has very significant role in order to be aware of current market scenarios. You need to just take out few minutes to look at economic calendar every day and it may enhance the fruitful results of every investment you do.
Nobody can predict what holds the data or numbers of order come into the market on its release. Because of this situation, usually traders close the positions few minutes before release of major impact data. It also make traders to avoid taking new trades to reduce the risk in scheduled manner.
Let’s know closely how economic calendar helps traders consistently. In economic calendar, we can look at small to big movements related to financial market in schedule manner. We can check financial events, updated data related to economy, GDP figures, government announcement or many more which impact the financial market. Economic data releases on economic calendar once a week on average or daily in busy weeks.
Every news event can be seen on the economic calendar. Usually in economic calendar we use, every event can be classified into three possibilities- minor, medium and major events. Minor events are events which have very low impact or marking in the market. Medium events which has medium capacity to effect the market and this type events can be found out with yellow mark depending upon the economic calendar we are using. Major events can be seen with red mark and these events has high impact on the market in significant manner.