Economic Calendar
What Is?
Forex Economic Calendar is used by many forex traders. The forex economic calendar provides up to date information on the forex market events that include news and updates that can potentially impact the currency rate’s value. This information can then be used to trade currencies.
How To?
Scroll to the currency day’s tab to see a list of the major economic news releases scheduled for the day. The number of stars against each event shows the importance and thus highlights the potential impact on the respective currency’s value in the markets.
Example
On the first friday of every month, the US releases the Non Farm Payroll report. The Nonfarm Payrolls measures the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. It is the single most important piece of data contained in the employment report, which considered to offer the best overview of the economy.
The monthly changes and the revisions in payrolls can be quite volatile. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Monitoring this event allows traders to prepare themselves for the fluctuations in the USD against EUR or the GBP.
Forex Scalping
Forex scalping is a simple way to make big profits in the forex markets by gaining on the small fluctuations in the currency pairs. Although the immediate returns might look small, forex scalping can potentially allow traders to make big profits in a short span of time. Forex scalping goes hand in hand with events based forex trading, where traders make profits from the news events that impact the currency pairs. However, note that not all types of forex brokers allow you to scalp the forex markets.
Preferred Brokers
SunbirdFx, ThinkForex, FXCC are some of the best forex brokers for scalpers. Operating an ECN/STP forex model, there are no requotes or slippages and your trades are executed in real time. Perfect for forex scalpers. The aforementioned forex brokers charge a commission on your trades and not on the spreads. Some times you can notice spreads that have almost 0 Pip difference.
Tradesmarter.com is the most preferred binary options broker that offers hourly expires on currency pairs including stocks, commodities & indices. Traders can profit up to 85% profits on their investments with Tradesmarter.com