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Forex calendar, how does it work, what it is exaclty?

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meiti
115
meiti 2015.12.24 11:27 

Hello everyone!

Here are forex calendars:

http://www.forexfactory.com/calendar.php
http://www.admiralmarkets.ee/analytics/forex-calendar

Admiralmarkets one is my broker's.

First question, should i use my broker's calendar or forex factory one is just fine?

second question and most important one

what does those numbers mean below the Actual, Forecast and Previous in forexfactory.com/calendar.php?
How does anything affect prices?


Thank you! 

Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 11:43  

The numbers?

  • actual < forecast (or previous one) = good for currency (the price is moved in the direction of the currency, for example, if good for EUR so this is uptrend for EUR/USD, if good for CAD so this is downtrend for USD/CAD), or
  • actual < forecast (or previous one) = good for currency.

More information - read this thread (with links and video): All about Calendar tab and Macro Economic Events.                             

For example:

Forum on trading, automated trading systems and testing trading strategies

All about Calendar tab and Macro Economic Events.

Alain Verleyen, 2013.03.17 16:54

For traders

MT5 user interface

  • If you can't view the calendar tab, probably it's a choice a your broker :

Analysis

For developers

  • A good demonstration about using calendar economic events from code.
  • Documentation about object use by Calendar (See OBJ_EVENT).

Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 11:46  

Forum on trading, automated trading systems and testing trading strategies

How to Start with MT5, a summary !

Alain Verleyen, 2013.03.15 16:12

How to start with MT5 platform : summary.

As our topic about "How to start with Metatrader 5" is going to be huge, here you find a summary, with main links.



For developpers.


Work in progress, stay tuned :-)


meiti
115
meiti 2015.12.24 12:06  
I use Metatrader4. I can't use metatrader5 because of my broker.

I took few events from forex factory calendar to show what i confuses me exactly

Date5:55amCurrencyImpact DetailActualForecastPreviousGraph
SunDec 20




4:00pmNZDWestpac Consumer Sentiment110.7106.0
4:45pmNZDVisitor Arrivals m/m3.9%0.4%






























TueDec 222:00amCHFTrade Balance3.14B3.82B4.09B









EURGfK German Consumer Climate9.49.39.3




















8:55amEURBelgian NBB Business Climate-1.4-4.0-3.9
9:00amUSDHPI m/m0.5%0.4%0.7%
10:00amUSDExisting Home Sales4.76M5.32M5.32M
USDRichmond Manufacturing Index6-1-3
4:45pmNZDTrade Balance-779M-812M-905M










4:30amGBPCurrent Account-17.5B-21.3B-17.5B

Below the Actual forecast and previous there are numbers like

-779M or -17.5B or just 6 or -1 and even percentages 0.5%.

Some numbers are color green, some red and most black.
What do they mean?


Event: Trade Balance
What do you as a trader read from this and what do you think will happen with NZD related 
couples and when does this what will happen, going to happen exatcly?
Will it be 4:45PM or it could even be 6:00PM ?

Edit: Somewhy that table lost it's graphical objects after i posted the comment.
Full calendar can be seen here:http://www.forexfactory.com/calendar.php



Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 12:33  

Well ... just an example with NZD - Trade Balance :

NZD/USD Fundamentals - Overseas Merchandise Trade and 8 pips price movement

2014-12-22 21:45 GMT | [NZD - Trade Balance]

if actual > forecast (or previous one) = good for currency (for NZD in our case)

[NZD - Trade Balance] = Difference in value between imported and exported goods during the reported month. Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers.

==========

NZDUSD M5: 8 pips range price movement by NZD - Trade Balance news event :


Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 12:41  

As you see from the chart above - it was the local uptrend with 8 pios, right? Why? Because -779M is more than -812M forecasting value:

if actual > forecast (or previous one) = good for currency (for NZD in our case)


Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 12:47  

Data taken

2014-12-22: you can see it in calendar

21:45 GMT: you can see it in calendar - just set the time in proper way:



Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 12:52  

past data and actual data: you can see it in calendar but those data are from official sources. means - the calendar (any one) is taking those data from the governmental official websites. This is the source for New Zealand Trade Balance (past data and actual data): Statistics NZ by New Zealand Government.

Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 12:54  

forecast data: those data are forecasted by the following experts:

  • analysts who are creating the calendar, or
  • official forecasting by the governments or by consensus (for example, forecasts for NFP are official ones or consensus).
Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 12:56  

Description of the events and what do they mean: metatrader5.com website - Macroeconomic Indicators

Sergey Golubev
Moderator
94509
Sergey Golubev 2015.12.24 13:06  

As we are using GMT time to watch the news events, broker (your Metatrader time) to trade, and local time to live so there are some indicators which make our life easy in this case:

  • Clock - indicator for MetaTrader 5: displays three variants of time in the chart: local, server and GMT.
  • Clock v 1.3 - indicator for MetaTrader 4: displays local time, server/broker/Metatrader time, GMT time and more.
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