en
| An economic calendar is a schedule of upcoming economic events and data releases, like interest-rate decisions, inflation figures, and jobs reports, that can move the markets. Traders use it to know when high-impact news is coming, so they can prepare for the volatility instead of being caught out. Here’s how to read one and use it. |
Markets don’t move at random, a lot of the biggest swings happen around scheduled economic releases. An economic calendar lists those events in advance, so you can see what’s coming, how important it is, and when. Whether you actively trade the news or simply want to avoid being surprised by it, learning to read an economic calendar is one of the most useful habits a trader can build.
What is an economic calendar?
An economic calendar is a tool that lists upcoming economic data releases and events, organised by date and time. For each event it typically shows how important it is and what the market expects, so you can judge which releases are worth watching. It covers things like central-bank interest-rate decisions, inflation data, employment reports, and growth figures, the numbers that shape how currencies, indices, and commodities move.
What’s on an economic calendar?
Most economic calendars show the same core columns:
| Column | What it tells you |
| Date & time | When the event is released (set it to your own time zone). |
| Country / currency | Which economy and currency, the event affects. |
| Event | The data release or announcement (e.g. inflation, interest rate). |
| Impact | How market-moving it’s expected to be, often low, medium, or high. |
| Actual | The released figure (appears once it’s out). |
| Forecast | What analysts expected. |
| Previous | The figure from last time, for comparison. |
The gap between the actual number and the forecast is what usually drives the market reaction, a big surprise moves prices more than the number itself.
The events that move markets most
A few high-impact events are worth knowing by name:
- Central-bank interest-rate decisions (e.g. the US Federal Reserve, ECB), often the single biggest market mover.
- Inflation data (CPI), shapes expectations for interest rates.
- Employment reports (like the US Non-Farm Payrolls, “NFP”), closely watched for the health of the economy.
- GDP, the broad measure of economic growth.
- PMI and retail sales, timely reads on business activity and consumer spending.
How to use an economic calendar, step by step
- Open the calendar and set your time zone. Use a reliable economic calendar and set it to your local time so scheduled release times are clear.
- Filter for relevant events. Narrow the calendar to the currencies or markets you follow and consider the events classified as medium or high impact.
- Review what’s scheduled. Look ahead at the day or week to identify potentially market-moving releases and consider whether you want to remain exposed to the market around those times.
- Check the forecast and previous figure. Compare the current forecast with the previous figure to understand the available market expectations before the release.
- Plan your approach. Consider in advance how you will manage your exposure around the event. Depending on your strategy and risk tolerance, this could include reducing position size, avoiding new trades around the release, or remaining out of the market during periods of heightened volatility.
- Review actual vs forecast and manage risk. Once the figure is released, compare the actual result with the forecast. A significant difference may contribute to increased volatility, but the market reaction is not guaranteed. Spreads may also change during volatile conditions, so follow your established risk-management plan.
Why it matters even if you don’t trade the news
Around high-impact economic releases, prices can move sharply and spreads may change for a short period. Some traders seek to trade around these events, but even if this is not part of your strategy, an economic calendar can help you remain aware of potentially market-moving releases. Some traders choose to avoid opening new positions shortly before major releases or review their exposure and risk-management settings in advance. Understanding when significant economic events are scheduled can help you make more informed decisions about your trading activity.
Using WRPRO’s economic calendar
WRPRO provides a built-in economic calendar that helps keep you informed about scheduled economic and financial events that may affect financial markets. It can be used to review upcoming releases, filter events relevant to the markets or currencies you follow, and incorporate economic events into your trading planning.
If you’re new to the markets, you can also explore our guide, What Is CFD Trading, and use a free demo account to familiarise yourself with the platform and trading tools before trading with real funds.
Frequently asked questions
What is an economic calendar?
It’s a schedule of upcoming economic events and data releases, such as interest-rate decisions, inflation figures, and employment reports, that can move the markets. Traders use it to know when high-impact news is coming and prepare for the volatility.
How do I read an economic calendar?
Look at the date and time (set to your time zone), the country or currency affected, the event, and its impact rating. The forecast and previous figures tell you what’s expected; once the actual number is released, the gap between actual and forecast usually drives the market reaction.
What is high-impact news in trading?
High-impact events are the ones most likely to move markets sharply, typically central-bank interest-rate decisions, inflation (CPI), and major employment reports like the US Non-Farm Payrolls. Economic calendars usually flag these with a high-impact rating.
Should beginners trade around news events?
Trading the moments around major releases is volatile and risky, so beginners should be cautious, many prefer to reduce position size or stay out during high-impact releases while they learn. The calendar is still valuable for knowing when to be careful.
What time zone does an economic calendar use?
Most let you set your own time zone. Always check it’s set to your local time so release times are accurate, a release can appear hours off if the calendar is on a different zone.
Risk Disclaimer
Any information/articles/materials/content provided by WRPRO or displayed on its website is intended to be used solely for educational purposes only and does not constitute investment advice or a consultation on how the client should trade.
Although WRPRO has taken care to ensure that the content of such information is accurate, - it cannot be held responsible for any omission/error/miscalculation and cannot guarantee the accuracy of any material or any information contained herein.
Therefore, any reliance you place on such material is strictly at your own risk. Please note that the responsibility for using or relying on such material rests with the client and WRPRO accepts no liability for any loss or damage, including without limitation, any loss of profit which may arise directly or indirectly from the use of or reliance on such information.
Risk Warning: FX/CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. You should consider whether you understand how FX/CFDs work and whether you can afford to take the high risk of losing your money.
You should make sure that, depending on your country of residence, you are allowed to trade with WRPRO products. Please ensure that you are familiar with the company’s risk disclosure.
