The Economic Calendar
Your single most important tool as a trader
4 sections · 2 quiz questions · ~5 min read
Guided course path
Keep the economic calendar inside the live track.
You are reading a reference lesson. The live course path gives you the lesson order, checks, saved progress, and next step. This live path connects market structure to companies, macro drivers, and earnings context.
Closest track: Stocks, ETFs, and Equities MacroFirst lesson: What a share actually represents
What It Is
An economic calendar is a list of upcoming economic data releases. Free ones on Forex Factory, Investing.com, and Myfxbook. You should check it every single morning before you trade — same as checking the weather before you leave the house.
Reading Impact Levels
Calendars mark events as low, medium, or high impact. HIGH impact (red) can move the market 50+ pips in seconds. Watch out for: NFP, CPI, FOMC decisions, GDP, rate decisions. Low impact (yellow) barely moves anything — ignore.
Forecast vs Actual
Each event shows a "forecast" (what analysts expect) and an "actual" (what comes out). The market reacts to the DIFFERENCE, not the number. A beat = actual better than forecast = currency usually strengthens. A miss = opposite.
The Golden Rule
NEVER open a new trade within 15 minutes of a HIGH impact event. NEVER let an existing trade stay open through one without tightening your stop. Nothing kills accounts like "I forgot NFP was today." Check. The. Calendar.
Quick check
Did it stick?
Try to answer each one before you peek at the explanation.
1
Which of these is typically HIGH impact news?
2
If the actual number matches the forecast, the market usually has a big reaction.